Davie Fogarty never gives up.
He started with an iPhone case business, tried his hand at personal training, before attempting a seasoning business.
There was even a Vietnamese roll shop.
He finally landed on ‘The Oodie’, the wearable blanket brand that has capitalised on Covid-19 lockdowns across the world that left millions stranded on their couch.
‘I think most successful people in business have a fear of failure,’ he told Daily Mail Australia.
Davie Fogarty (pictured) from Adelaide, launched the The Oodie in 2018 while selling weighted blankets and furniture
The Oodie is a cosy, wearable blanket with a warm sherpa fleece interior and front kangaroo pocket (pictured)
The university drop out, from Adelaide, has opened up about how he built his global business with $500 before turning it into a $280million brand that is looking at expanding across the world.
‘Every failure or mistake can be used as a learning experience to improve upon and find success down the track,’ he said about his strings of hits and misses.
‘By not becoming blinded by hubris, you will not overextend and take on unjustified risks.
‘When I first started, I was really strategic and had learnt from the mistakes I made in previous business ventures that had ultimately failed.
‘We’re also exploring new markets, such as Japan.’
The young entrepreneur launched the brand in 2018 while selling weighted blankets and furniture.
When millions of people were stuck at home due to ongoing lockdowns, The Oodie skyrocketed.
The 27-year-old now owns 10 brands that have brought in more than 3.9million unit sales to date with more than $200million in annual revenue.
‘Fortunately the Oodie has been a much-loved product since the beginning and we’ve been able to build a strong brand and following, mainly through social media,’ he said.
Mr Fogarty’s first product, Calming Blankets, a line of weighted blankets designed to reduce stress and improve sleep, was launched in 2018 several months before The Oodie
Mr Fogarty didn’t study business at university and left a marketing and mining engineering degree during his first year
His first product, Calming Blankets, a line of weighted blankets designed to reduce stress and improve sleep, was launched in 2018 several months before The Oodie.
Other brands including Pupnaps, a range of calming beds for pets, generated more than $1million in revenue in its seventh month,
He also founded Australian Furniture Warehouse with his parents, which sells furniture through warehouse sales.
Mr Fogarty didn’t study business at university and left a marketing and mining engineering degree during his first year.
But he does have experience launching different brands and working for companies to grow their social media presence.
‘I started out growth-hacking Instagram accounts after I finished high school and grew Instagram accounts for different businesses to around 600,000 followers,’ he said.
More than 20,000 Victorians purchased Oodies that month before sales increased to 85,000 by the end of October
Davie’s top business secrets to success:
1. Have a product idea that solves a problem
2. Have strong digital marketing skills and developing creative video content
3. Plan a pre-sale strategy
4. Take every opportunity to learn and build your skills
5. Stay on top of trends
‘From there, I discovered my interest in marketing and social media and taught myself the algorithms and systems behind major social media platforms.
‘My motivation is always learning and solving complex problems – eCommerce is a fast emerging industry and you need to constantly be learning to stay ahead.’
Mr Fogarty said with Covid lockdowns and restrictions forcing Australians into their homes, customers turned to The Oddie as a source of comfort during the difficult time.
‘Loungewear in particular has grown in popularity since the pandemic and we found there was a strong appetite for Oodies and other items over the last 18 months,’ he said.
Sales of The Oodie spiked in Victoria in July 2020 during the prolonged lockdown.
More than 20,000 Victorians purchased Oodies that month before sales increased to 85,000 by the end of October.