From lobster to shark is not that much of a leap — they both live in water — and if Wiki is accurate about Daymond John's being Pisces, his path from serving crustacean to corporate world jaws may have been in the stars.
The founder and CEO of FUBU, the clothing company reportedly worth $250 million, who's become even more recognizable as star of ABC's "Shark Tank," spoke recently at the Minneapolis Urban League's 87th annual gala. Before the speech he talked to media about the trouble of finding major department store acceptance for an urban brand inspired by hip-hop music.
"Prior to [J.C. Penney selling FUBU], department stores had said, We don't want that customer in our store because they are either going to be shooting each other or stealing the clothes. We responded by continuously selling to the 'hood stores." When sales in urban stores skyrocketed and those proprietors began expanding, other department stores decided they'd better "get some FUBU in here," John said.
FUBU is an acronym for "For Us By Us," but John noted that "FUBU was not created solely for African-Americans. FUBU was created for people [who] love this music, this genre's hip-hop, and they love [what's] energized and created by African-Americans." John doesn't want to be guilty "of the same racism" committed by those critical of what rappers and inner city kids wear.
If John hasn't already graced "Best Dressed" lists, it's just a matter of time. Although FUBU originally was influenced by hip-hop, John's answer to my question about whether he's ever worn sagging pants is no surprise. There is something deadly serious about John that does not radiate from those who wear pants in such a way as to purposely expose their underwear.
Q What's the short answer to the question of how you went from a waiter at Red Lobster to FUBU?
A A lot of failures and then learning and understanding that I needed to do something that I loved and was fascinated with, regardless of if I made a dime — that is, would have [given] me some form of fulfillment. Persevering and just moving on and keep trying until it worked.
Q You experienced a lot a rejection while building your brand. Do you ever have a pang of recollection when you are rejecting people making pitches on "Shark Tank"?