The young Aussie founder behind the globally popular portable hooded blanket ‘The Oodie’ has made more than $400 million since launching his brand four years ago at just 23 years old.
Davie Fogarty, from Adelaide, South Australia, said he dreamed of starting his own business from an early age – even selling cookies to teachers and students at school to earn some extra cash.
The university’s marketing dropout said he launched his global business with his last $500.
Now, at just 27 years old, he owns 10 brands – including Calming Blankets and pet care brand Pupnaps, all of which are part of his Davie Group company.
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Davie Fogarty (pictured) founded ‘The Oodie’ in 2018 and owns nine additional brands
The brand launched in 2018 but surged in sales in 2020 as Covid swept Australia, forcing millions into their homes during ongoing lockdowns
From an early age, Davie Fogarty, from Adelaide, South Australia, dreamed of starting his own business and selling biscuits to teachers and students at school to earn some extra cash
The brand was launched four years ago, but sales exploded in 2020 when Covid swept Australia, leaving millions of people working, playing and languishing at home during lockdowns.
The instant nation of homebodies meant that Australians were spending more money on cozy outfits to wear around the house; The Oodie is a cozy, wearable blanket with a warm sherpa fleece interior and a kangaroo pouch front pocket.
On TikTok, Mr. Fogarty shared a video after feeling humiliated by his incredible success.
The Oodie is a cozy, wearable blanket with a warm sherpa fleece interior and a kangaroo pocket at the front (pictured)
“The money will come back, but I will never turn 23 and grow Australia’s largest oversized wearable blanket store,” he wrote.
He’s also known for sharing business tips, finding “winning” products, and what he would do differently if he could do it all over again.
In a separate video, Mr Fogarty said he would change his approach and “general mindset” about both life and business.
“I was so determined to be successful and make as much money as I could, and not only missed a lot of opportunities, but probably I wasn’t as happy or enjoying life as much as I could have been,” he said.
“If I could change one thing, it would be my mindset to find peace of mind instead of trying to be something I didn’t have to be.”
In a separate video, Mr Fogarty said he would change his approach and “general mindset” about both life and business. He told FEMAIL that the brand has made more than $400 million in revenue to date (pictured, a spreadsheet from last year)
But his first few business attempts were unsuccessful.
He started out with an iPhone case brand, tried personal training, before trying an herbal company. There was even a Vietnamese deli.
He eventually landed on ‘The Oodie’, the wearable blanket brand that cashed in on the Covid-19 lockdowns around the world.
Fogarty’s first brush with success came with the 2018 launch of his Calming Blanket franchise, a tool to reduce anxiety.
He then developed the idea of making 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, months before The Oodie
“Any failure or mistake can be used as a learning experience to improve and find success later,” he said of his string of hits and misses.
‘By not allowing yourself to be blinded by overconfidence, you will not exaggerate and take unjustified risks.
“When I started out, I was really strategic and had learned from the mistakes I made in previous business ventures that had ultimately failed.
‘We are also exploring new markets, such as Japan.’
Mr. Fogarty has no university degree in business administration and has a marketing and mining degree in 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 line of calming pet beds, generated more than $1 million in revenue in its seventh month,
He also founded Australian Furniture Warehouse with his parents, which sells furniture through warehouse sales.
Mr. Fogarty has no university degree in business administration and obtained a marketing and mining degree in his first year.
But he does have experience launching various brands and working for companies to increase their social media presence.
“I started hacking Instagram accounts after graduating from high school and grew Instagram accounts for various businesses to about 600,000 followers,” he said.
More than 20,000 Victorians bought Oodies that month before sales rose to 85,000 at the end of October
“From there, I discovered my interest in marketing and social media and taught myself the algorithms and systems behind the major social media platforms.
“My motivation is always learning and solving complex problems – eCommerce is a rapidly emerging industry and you need to constantly learn to stay ahead.”
Mr Fogarty said that 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 that over the past 18 months there has been a strong need for Oodies and other items,” he said.
Sales of The Oodie peaked in Victoria in July 2020 during the extended lockdown.
More than 20,000 Victorians bought Oodies that month before sales rose to 85,000 in late October.