Daymond John, ‘Shark Tank’ Star, Talks New Season, FUBU And Technology’s Impact On Fashion

by Brennan Williams
February 2, 2012 | 4:01 pm ET

How was it transitioning from a multibillion dollar company like FUBU to a reality television series?

It’s fairly easy. FUBU — the beauty of it is that it was always based off of an entertainment type of structure, whether it was LL [Cool J] being the face of it, or all of our product integration into reality shows. That’s what we do often. The first couple years of the Kardashians being on the air, I managed to put Coogi and some of my other brands in there. So we always dealt in that space, which made for a pretty easy transition.

Do you still have a stake in FUBU, or have you branched off into your other brands such as Drunken Monkey and Coogi?

We all [I and my FUBU partners] have a stake in all of our brands, because we licensed the brands in other territories. FUBU is pretty well licensed out in China and Asia. In America it’s a little more of a challenge, obviously, because it’s a branded sport. Now we’re doing a great job in Walmart with footwear. But I’m still in charge of licensing, and it’s the same format as “Shark Tank.” Basically, I’m cutting deals with Asia and other countries to distribute the product at a certain cost. And that’s basically the hustle.

How do you set yourself apart from other fashion moguls in your space who are also trying to broker deals in domestic and foreign markets?

Being in this space going on 25 years, as something I really know well, any line that I decide to put out, it has a great chance of being successful. I’ve made a million mistakes; I know what not to do. But even if you look at the vice president of Sean John [Jeffrey Tweedy], who’s a very good friend of mine, I suggested him for the job. I used to distribute Russell Simmons’ Phat Farm in Europe, so we’re close knit. And actually what I’ve been doing now is, I’ve been setting up a lot of artists and stars with their own brands. They come to me to develop it. So I’m working right now with Vanessa Simmons, Selita Ebanks. I have about four artists a month that I’m usually advising and putting together their brands and products so they can take it out to the world.

What do you consider to be the most challenging aspect of prospering in business?

It’s always going to be staying relevant. How do you make your product new and sexy enough to where you can have somebody buy it? But secondly, at a price where it can make you some money? That was always the challenge, ‘How do you stay cool?’ And that’s what I kind of do now with all the products, brands and companies that I work with. I try to make them cool and stay cool enough to be hip. And that’s a big challenge.

» Watch the interview on 98.7 Kiss FM

Daymond John: Investing in America

by Mike Green
January 30, 2012 | 10:35 am ET

As the founder, president and chief executive officer of FUBU apparel, Daymond John is no small fish when it comes to offering his expertise on ABC’s hit reality show “Shark Tank.” The multimillionaire mogul appears as one of five executives on the Mark Burnett-produced show who help aspiring entrepreneurs launch their companies.

In a recent interview with The Huffington Post, John discussed the Season 3 debut, his current status with FUBU, his plans for integrating his brands into television, and his thoughts on today’s urban apparel.

What was your reaction to the recent debut of “Shark Tank: Season 3″?

It was definitely exciting. The numbers came in great, and that means that people are actually starting to like to see smart TV instead of other things that they tend to watch.

Would you consider your approach to viewing business pitches this season to be different?

No, not really. I guess I learned over the seasons, after you see the deals going on TV, how to close on a deal the quickest, or move on and not close the deal because it may not be everything that it’s cracked up to be.

With you attaining a wealth of business knowledge throughout your career, what are some experiences that you bring to the show?

I’ve learned, like with anything else, business is only as good as your connections and your resources. And some of the resources that I have are the fact that I work with huge artists. So that’s a large equity play. A lot of times I can put a product together with a distributor when I go into my Rolodex for distributors. I can then put it together with a face, such as an artist. And then I can go into my databank of retailers and people that I’ve been working with through the years of retail, and then also manufacturing. So once I get that done, there’s usually a good chance that we’re going to have some success.

What inspired you to join the show in 2009? Did Mark Burnett reach out to you?

[Executive producer] Clay Newbill reached out to me, along with Mark Burnett. They saw me on shows such as Donny Deutsch. They understood when they saw me getting elevator pitched on these shows, they understood that I could pretty quickly break down a business and see all its holes or assets — and exploit either one.

» Read the full interview on HuffingtonPost.com

Babson MBA Students Serve As Consultants For Shark Daymond John Work With Shark Business, EzVIP

Babson College MBA students served as consultants to Shark Tank host Daymond John last semester.  Based in part on their analysis, John as well as fellow Shark Mark Cuban, invested in EzVIP during a show broadcast Friday night.  View the show here: (http://abc.go.com/watch/shark-tank/SH559076/VD55164942/week-1).

The students were part of a semester-long MCFE consulting class for with Entrepreneur-In-Residence John, who is Shark Tank cohost and FUBU founder.

Students worked with John throughout the semester, analyzing businesses, competitors, and the overall industry and made recommendations to John for investment decisions concerning Shark Tank contestants.

Students have continued their work since John invested in EzVIP. They assisted EzVIP with:

• Expansion plans into Las Vegas, New York, Los Angeles
• Feedback and guidance on the functionality and look & feel of their website redesign
• Social Media strategy
• EzVip efforts marketing to women
• Creating sales pitch decks for nightclubs, corporate partners, concierges, and general sponsors.

One MCFE student, Clifford Worley M’12, is currently working for EzVip as an Account Executive. “I found the company so interesting during the semester that I decided to see if I could help them expand over my Christmas break. I spent a week in Miami learning more about the company and now I am in New York signing up the Top 10 nightclubs to use the EzVip service, while the CEO is signing up the top 10 nightclubs in Las Vegas. Daymond John was so kind to let me work out of his office while I am here in New York. Thus far it has been a great experience and I hope to continue to work for them during the school year and post-graduation.”

» Read the article on Babson News

Daymond has teamed up with Edison Nation, and award-winning PBS television series Everyday Edisons, to invest up to one million dollars in your ideas. If you have a creative invention or prototype that you want to take to the next level, visit EdisonNation.com to learn more about how Edison Nation can bring it to market.

Edison Nation’s team brings your voice and ideas to major U.S. companies in need of innovation and inspiration. Learn more about their $25 Million Innovation Fund and their Daymond John Open Innovation Search to see how you can give your ideas a shot at success.

Edison Nation provides a powerful education resource for inventors and entrepreneurs through it’s blog, industry magazine, videos and lively forum community.

Watch Daymond talk about the challenge below:

Daymond sits with HOT97′s Angie Martinez to talk about the season premiere of Shark Tank and how it works using Angie’s example of… fluorescent water!

» Watch the conversation on HOT97

ABC’s Shark Tank is a highly popular reality TV series where budding entrepreneurs pitch their business idea, product or service to a panel of five wealthy entrepreneurs ready to sink their toothy jaws and business prowess into a potentially profitable business venture. Some contenders survive the shrewd tactics of the predators, others don’t. The innovative ones who’ve done their homework are offered up to $10 million in investment capital and have gone on to create and expand businesses on a national level.

Returning for a third season, Daymond John, founder of clothing manufacturer FUBU and star of the hit TV show, shares there’s a simple formula to a successful business: having a strong base. Here he offers eight tips to boost your business know-how.

1. “You should know who your customers are.”

A customer is the recipient of your goods, services, product or idea. Knowing who will buy your product will determine the success or failure of your business.

2. “What is your goal? Past accomplishments? Milestones?”

Your goal will only be effective if you have a clear vision of what you want to achieve and how you will do so. Outlining past accomplishments and milestones are essential to your success in securing investors and making progress toward achieving your goal.

3. “In your industry, who are your targets?

It’s the first step to a successful marketing strategy. Don’t make assumptions about who will or who won’t buy from you.

4. “How are you positioned?”

Know who your customer is so you can direct your marketing efforts and dollars toward them.

5. “What is your price point?”

Determine the total production cost, take into account what your competitor is charging, then add a profit margin.

6. “What are your weaknesses? What are your strengths?

These are the fundamental elements of strategic planning. Once they have been identified, they will offer powerful insight.

7. “Have you identified your strategic alliances?”

They have become an essential driver for growth. You can partner with a business and work toward a common goal without losing your individuality while reaping the rewards of a team effort.

8. “What are your financial [statements]? You need to know what your losses and gains are and understand profit margin. You need to know them down to a tee.”

Self-explanatory.

» See the full article on RollingOut.com

Daymond John is honored to be the brand ambassador of Shopify, a powerful e-commerce solution that includes everything you need to create an online store.

When Daymond started his career as a young entrepreneur, e-commerce didn’t exist. When he made his first sales of those tie-top hats you hear about, in front of the old New York Coliseum, he relied entirely on oldschool word of mouth marketing. Things certainly have changed. Now, in addition to Shark Tank and FUBU, Daymond is advising clients all over the world with his company Shark Branding, and will be helping entrepreneurs start their business online with Shopify.

Start Your Business with Shopify Today!

Daymond and the rest of the Sharks will be back in the boardroom listening to pitches from budding entrepreneurs hoping to turn their product or company into a reality. The new season kicks off tonight at 8 / 7pm CT on ABC.

Entertainment Weekly reports Shark Tank as its favorite underdog show. Watch its exclusive trailer for the third season here: