Daymond John
๐ค SpeakerAppearances Over Time
Podcast Appearances
The most successful product in all of Shark Tanks, if you see my underachiever fellow sharks, just remind them, is Bomba Socks.
My investment, it's socks.
You don't know, it's usually, it always is, very honest, the entrepreneur, and then you back in to how they're making good, manufacturing it, delivering it, and then you go into the numbers.
anything that you need several different aspects and several different components you know what listen when I first started I was making Guatemala and then I was making the Korea that shifted over to China but then China these factories are opening and closing just as fast they're owned by the government right then I moved over to Turkey and India so if you're having different components right and so that's why you know I had reached out to find somebody like the Kareem I actually found Kareem because I
I don't have time to deal with all that, right?
And that's the problem when you are somebody who's building a brand.
You start a brand and you want to solve a problem or bring somebody joy, but all of a sudden now you have to learn manufacturing, shipping, finance, social media, and all this other stuff.
So again, somebody like Kareem who has 2,000 factories at their fingertips are the ones that you want to go to because there is no one answer.
Tariffs, quota, it's illegal to make a product over here,
government change, war, it's all over the place.
Well, you know, we saw the shift where you can buy things directly from the maker.
At the end of the day, now when you're buying it overseas, you're getting, you know, 20%, 30%, 50% increase.
But if you're dealing with big box stores and buyers, they say...
I am not making, I'm not selling this to my consumer more than $9.99.
That's your problem.
And if you don't want to do it, I'm going to find somebody else is going to do it cheaper with a bigger smile.
So they don't want to pass that on to the consumer at the end of the day when you're dealing directly with big box retailers or retailers in general.
I don't think I've been ever asked because.
What's your because?
So I guess my why, like you said, would be family, but what?