Soroff On
Daymond John
The fashion marketing guru talks about LL Cool J, Bethenny Frankel and the secret to branding success.
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Clothing mogul Daymond John is the founder of FUBU and a pioneer in marketing hip-hop culture. A native of Hollis, Queens, he entered the apparel business when he wanted a hat he’d seen in a music video but couldn’t find one at an affordable price. Having picked up sewing from his mother, he started making his own. Broadening the line to include jerseys, sweatshirts and T-shirts, his business reached a tipping point when LL Cool J wore FUBU for a promotional campaign. Two years ago, John signed on with the ABC show Shark Tank, on which he and four other prominent businesspeople hear pitches from contestants hoping to launch their brands. John is a consultant, speaker and the author of Display of Power and The Brand Within. This fall, he’ll serve as Babson College’s “Entrepreneur in Residence.” He lives in New York.
Should Hollis, Queens, officially be named the birthplace of hip-hop?No. The Bronx could be considered the pilgrims, and then we could be seen as the settlers. Pioneers get slaughtered, and the settlers prosper. The guys in the Bronx started things, and we colonized it.
The free ones. Back then, times were hard, so I would not only work, but I’d have three meals and I’d take home the leftovers.
No, I do not.
Not at all. I’d recommend getting some form of financial intelligence, because before I got my deal I was probably about two months away from being homeless and losing the house and everything else.
Definitely. But we’re talking about the possibility of losing my house, not my massage from last night.
It really does stand for that. The question is: Who was the us?
It sparked from hip-hop culture, but it was a time and an era when this new guy playing basketball named Michael Jordan started wearing shorts past his knees, and a boxer with a gold tooth named Mike Tyson was the youngest in history to attain the title and started listening to hip-hop. It was this culture that even the Japanese kids were picking up on.
Providing the people who aren’t represented with something they can call their own. Sure. The geeks working over at Apple—it became cool to be one of those guys, and they’re part of a movement, for example.
I think he was a very, very important part of my brand. Yes.
By far, Ralph Lauren.
I love them. There are several reasons I think they’re successful. One is that they have very racy ads that either represent alternative lifestyles or a younger culture. The stores set a mood; you think you’re in a club. Their fragrance they’ve skillfully branded in every mall. Whether you know it or not, you smell it and think of them. Their price point is great, and the product is super high-quality. The cut of their clothes is flattering to almost everyone. Great customer service. On many to all levels, they’ve got it down.
I’m really a Dolce & Gabbana fan. I think G-Star has come back around with their denim. And of course, my brand.
Pumps.
A hundred. Give or take.
Oh, man, that’s a tough one! Could be Eric B. and Rakim, or Biggie Smalls. I don’t know. That’s like asking me my favorite child.
Shark Tank
That’s each year.
No. Not yet. I don’t expect to see anything for probably another two years. I think the One Soul deal I did may actually have some returns this year, but just like most businesses, it’s going to take at least three years to start seeing something. And out of those investments, you can only expect maybe 10 percent to really do anything.
It all depends on the involvement. For the most part, pornography isn’t something I want to be involved in.
[Laughs.] Yeah. But for the sake of argument, with someone like Jenna Jameson a couple of years ago, for example, if there was a great apparel line to be done. But no business that jeopardizes people’s safety or dignity. I’d never get involved with tobacco.
Yes.
The price point. Old Navy is a product where the consumer has a need for it but no desire or ability to spend a lot of money on it, whereas FUBU is going to be more about a lifestyle, as well as better quality.
She’s done an amazing job. She’s shown that being focused and having a clear strategy is great. Developing a team around you, and a concept that no one else is addressing, is great. That not just A-list celebrities are the successful ones. People relate to people who are going through everyday challenges.
Yes. To some extent.
No. I’m sure there are plenty of others.
Not bigger than hers, but bigger than most.
Pitbull.
Yeah. I can’t tell you how many times I’ve been with him and a woman walks up with either his name or face tattooed on her body.
I like every single one of them, but for different reasons. I love [Mark] Cuban, who he is, his attitude. And because of his extreme wealth, I can find ways to snake deals from him. I love Kevin O’Leary, because whether you like what he says or not, he’s telling the truth in some way.
No. Mark Cuban is. I love Barbara [Corcoran] because she’s crazy, sexy and cool. I like every one of them for certain reasons, and I hate every one of them for certain reasons.
Extremely. The challenge is that after the lights go down, you’ve got a dozen green entrepreneurs to deal with, and lawyers, and due diligence and all that. That’s where it becomes real work.
The guy who wanted to surgically implant Bluetooth into people’s necks.
