The young Aussie founder behind the globally popular wearable hooded blanket ‘The Oodie’ has turned over more than $ 400million since launching his brand four years ago at just 23.
Davie Fogarty, from Adelaide, South Australia, said he dreamed of starting his own business from a young age – even selling biscuits to teachers and students at school to make some extra cash.
The university marketing drop-out said he launched his global business with his last $ 500. Now, at just 27, he owns 10 brands – including Calming Blankets and petcare brand Pupnaps, which are all part of his company Davie Group.
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Davie Fogarty (pictured) founded ‘The Oodie’ in 2018 and owns nine additional brands
The brand launched in 2018 but increased in sales in 2020 when Covid swept Australia, forcing millions into their homes during ongoing lockdowns
From a young age, Davie Fogarty, from Adelaide, South Australia, dreamed of starting his own business and would sell cookies to teachers and students at school to make some extra cash
The brand launched four years ago but sales exploded in 2020 when Covid swept Australia, leaving millions working, playing and languishing at home during lockdowns.
The instant nation of homebodies meant Australians were spending more money on cosy outfits to wear around the house; The Oodie is a cosy, wearable blanket with a warm sherpa fleece interior and a ‘kangaroo pouch’ front pocket.
On TikTok Mr Fogarty shared a video after feeling humbled by his incredible success.
The Oodie is a cosy, wearable blanket with a warm sherpa fleece interior and front kangaroo pocket (pictured)
‘Money comes back, but I’ll never be 23 and growing Australia’s biggest oversized wearable blanket business,’ he wrote.
He’s also known for sharing business tips, how to source ‘winning’ products and what he’d do differently if he could do it all again.
In a separate video Mr Fogarty said he’d change his approach and ‘general mindset’ about both life and business.
‘I was so hell bent on becoming successful and making as much money as possible, and not only missed a lot of opportunities, but I probably wasn’t as happy or enjoyed life as much as I could,’ he said.
‘If I could change one thing, it would be my mentality around that and just trying to find peace rather than trying to be something I didn’t need to be.’
In a separate video Mr Fogarty said he’d change his approach and ‘general mindset’ about both life and business. He told FEMAIL the brand has turned over more than $ 400million to date (pictured, a spreadsheet from last year)
But his first few business attempts weren’t a success.
He started with an iPhone case brand, tried his hand at personal training, before attempting a seasoning business. There was even a Vietnamese bread roll shop.
He finally landed on ‘The Oodie’, the wearable blanket brand that cashed in on Covid-19 lockdowns across the globe.
Mr Fogarty’s first brush with success came with the 2018 launch of his Calming Blanket franchise, which is a tool to ease anxiety.
He then developed the idea to create a wearable blanket, using social media marketing to give the Oodie traction.
‘I think most successful people in business have a fear of failure,’ he previously told FEMAIL.
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
‘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 learned from the mistakes I made in previous business ventures that had ultimately failed.
‘We’re also exploring new markets, such as Japan.’
Mr Fogarty did not 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 did not study business at university and left a marketing and mining engineering degree during his first year.
But he does have launching 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 Oodie 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.