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How is FUBU going mainstream
By Marcy Bruch
It started with four buddies from Queens, N.Y., who set out to make easy money by selling tie-top caps on the streets, and grew into one of the top-20 brands among Gen Xers and teens.
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The FUBU team: (l. to r.) Daymond John, Keith Perrin, J. Alexander Martin, and Carl Brown |
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That's how Daymond John, Keith Perrin, Carl Brown, and J. Alexander Martin became known as the FUBU team. The brand launched in 1992 after Daymond John took out a $100,000 second mortgage on his house and transformed half of his home into a working factory. There, John, Perrin, and Brown all lived and worked under one roof spinning out a small line of tops and hats. When their fourth childhood friend, J. Alexander Martin, returned from military duty after Desert Storm he observed what was going on and pushed his friends to take the next step, saying, "Hey guys, get a name for this venture and a business plan. Let's take this to the next level."
And so they did. How did the budding company get its name? "At the time we started our company, there were brands out there that appealed to our generation--the Gen Xers--but the figureheads of those brands weren't exactly rubbing elbows with their customers on a daily basis," John says. "We had our pulse on that market because we were all under 30 years old at the time and living among those who wanted what we sold." Fittingly, the name FUBU is an acronym: For Us By Us.
The foursome produced a line of T-shirts, rugby shirts, and baseball caps, showing them at the Black Expo and MAGIC exhibitions and earning an $800,000 order.
"At that point we realized we had a business and it was no longer just about making extra cash. In order to make it work, we really had to work it," recalls John.
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FUBU's line now includes eyewear. Shown: Style FB108 |
Once the FUBU quartet found their niche, word of the successful sportswear collection got out. Investors came calling and soon the partners found themselves backed by Samsung America, which became the manufacturer and distributor of FUBU. Soon after, licensing agreements followed, including an ophthalmic and sunwear line licensed through New Millennium Eyewear Group.
Since John wears prescription eyewear, the FUBU CEO has made this latest product license his baby. "I know exactly what I look for when I buy eyewear, so I've applied that criteria towards our eyewear collection," he says. "First, the frames have to be comfortable and lightweight. Second, the design has to be streamlined. And third, they have to be sold at a reasonable cost."
The FUBU eyewear collection is comprised of 17 ophthalmic frames and 11 sun styles that retail for $110 to $150. All frames are made in Italy and the sunglasses feature polycarbonate lenses that offer 100 percent UV protection.
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FUBU's CEO takes a special interest in eyewear. Shown: Style FB55181 |
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Since John prefers wearing tinted lenses in his prescription frames, colored lenses abound in the collection. "Just like there was a void in the men's apparel market when we started our company in 1992, there's a vacancy in eyewear that I believe FUBU eyewear can fill," he says.
Given the FUBU track record, that could very well be. Today the brand posts more than $350 million in annual retail revenues and has a loyal following in Korea, France, and Germany. "FUBU is ranked the number-one street brand in France," John says.
While the company founders have not forgotten their roots, John says that the FUBU brand isn't strictly for Gen Xers anymore. His reason: "Given our diverse licenses in categories that run the gamut from kid's apparel to tuxedos and home furnishings, our products appeal to those ranging from five years old to 50. Today, FUBU is truly a global brand that appeals to all ages."