FUBU is a worldwide known clothing brand company that has sold millions of merchandise. Among the merchandise that the company has sold includes eyewear, casual wear, belts, sports apparel, shoes and suit collection. This company has seen immense growth in its operations and has been ranked among the best highest selling companies in the world. The company has been under the able leadership of four people: Keith Perrin, Daymond John, Carlton Brown and J Alexander Martin. Here is a quick summary of the net worth of FUBU in 2020.
The company was created in 1992, and its headquarters are in the United States of America. When it was founded, it was only making hats in John’s House which was located in Hollis, Queens. According to this company website, John had to mortgage his own house for $100,000, and using the proceeds he and his friends turned half of his own house into the factory while the other was his living place.
In 1995, a South Korean Company. Samsung did invest in the company. This capital injection boosted the number of materials that the company was producing.
By 1998, the company has accumulated gross sales amounting to $350 million in their annual sales. FUBU Company has been honored with several entrepreneurial awards including Congressional Awards, NAACP Awards, and Pratt Institute Award. In the year 2003, the company left US market and decided to concentrate its hard work overseas and took some apparel brands.
In the year 2009, the annual revenue of this company was $200 million. In 2010, the company launched its rebranding session where it was renamed FB Legacy. In 2018, the company has worked together with PUMA to create some shoes as well as apparel. FUBU collection normally consists of T-Shirts, jerseys, baseball caps and Denim Jeans.
FUBU has expanded to launch various new lines such like Platinum FUBU, the FUBU footwear for the men and women and swimwear. From the year 2001 to 2003, the company established a recording label where it released its first compilation dubbed ‘The Good Life.’
FUBU Company has been honored with several entrepreneurial awards including Congressional Awards, NAACP Awards, and Pratt Institute Award. Also, the company has enjoyed massive growth even beyond the United States where they have a huge following.
Net Worth & Earnings
FUBU company has a valued net worth of over $7 billion. The fortune of this company has been created from several sources including their major source which is creating various apparel wear. The company is estimated to be making an annual return of over $200 million from the sales. It has signed a deal with various companies and organizations.
Despite the company starting from a humble beginning, it has positioned itself as one of the best companies when it comes to making different types of clothes. They concentrate on quality and innovative designs, and these are some of the factors that have made them stand out.