SHOPPE BLACK

FUBU Founders on the Past and Future of a Legendary Brand

8 mins read
fubu

FUBU, short for “For Us By Us,” was founded in 1992 by Daymond John, J. Alexander Martin, Keith Perrin, and Carlton Brown as a hat company.

fubu

During the 1990s, it became a popular fashion choice in the street-wear scene and by the early 2000s, it had gained worldwide recognition. The company’s revenues grew significantly during this time, with FUBU becoming one of the most successful urban fashion brands in history.

According to Forbes, FUBU reached $350 million in annual sales at its peak in 1998, and by 2004, the company was worth an estimated $6 billion.

We caught up with Carlton E. Brown, J. Alexander Martin, and Keith Perrin, to share their memories and thoughts about the future of FUBU.

Carlton E. Brown

What role did you play at the company at its inception?

Daymond and I have been together building this business from its conception. We thought of the name FUBU together. Outside of designing I have worn pretty much every hat to date. 

What moment in time during the height of FUBU’s success is most memorable and special to you? 

The word “height” depends on one’s perspective. For me, the most memorable moment was setting up our first retail store Montego Bay in Jamaica Queens. Once I saw our goods on a T-rack and saw the people buy what we had created, I knew there was no stopping us. 

What are your current aspirations for the FUBU brand? 

Global branding and distribution. 

You are currently involved in real estate development. Can you tell us how you got involved in real estate and share your plans for hotelFUBU? 

I grew up watching my grandfather build an impressive real estate portfolio. He started as a junk collector, then a vacuum cleaner sales rep to one of the most successful real estate investors in Jamaica queens throughout the 80s and 90s. 

The goal for HotelFUBU and FUBUvillage is to create lodging, market rate, and affordable housing catering to the needs of the next generation.

FUBU

J. Alexander Martin

What role did you play at the company at its inception?

I came home from Desert Shield from the US Navy with the desire to be in fashion. Luckily my childhood friend created the fundamental steps by creating a tie top hat and the name Fubu. I used my stipend of $5000 and my GI Bill to turn Fubu into the brand it is today. 

What moment in time during the height of FUBU’s success is most memorable and special to you?

When I was steadfast on creating a brand with the fundamentals of forusbyus, I worked diligently every day. I worked at Macy’s and was written up for something I did not do. So I quit and said the next time I walked into Macy’s I would be selling to them. The next time I did we were in the Macy’s window, something that has never been done. 

What are your current aspirations for the FUBU brand?

My aspirations have never wavered. I’ve always wanted Fubu to be a legacy brand. It’s been over 30 years and I hope to continue for 30 plus more years. 

You currently serve as CEO of the ForUsByUs Network. Tell us more about this venture.

Forusbyusnetwork is a streaming service for urban content. The Forusbyusnetwork has taken the spirit of excellence and created a streaming service to highlight the culture.

We set out to bring the African American consumer engaging content of all genres. We know that in fashion, distribution is key so we’ve set out to be on all platforms OTT, CTV, AVOD, SVOD, or Linear.

We want to be the destination portal for all content providers and urban channels. From the For Us By Us award show aimed to highlight our greatness to informative content via podcasts, documentaries, and our original series & reality shows. The Forusbyusnetwork will bring our original niche movies to cinemas around the globe. 

FUBU

Keith C. Perrin 

What role did you play at the company at its inception?

I started off as a salesman then I moved into marketing where I became the person in charge of product placement. I placed the brand in movies, commercials, videos, photoshoots, etc. 

What moment in time during the height of FUBU’s success is most memorable and special to you?

For me, it had to be meeting Nelson Mandela at his home in South Africa. I couldn’t believe he knew who we were and called us to come meet him. What an experience.

fubu

What are your current aspirations for the FUBU brand? 

I’d like to see it last as long as some of the brands that have been around 40-50 years and maybe pass it down to our kids and see what they do with it. For me being in this business for 30 years is a feat we never knew we’d reach. You can’t mention Hip Hop without mentioning FUBU. 

You currently serve as CEO of FUBU Radio. Tell us more about this venture.

I started Fubu Radio with my business partner Demetrius Brown. We don’t cater to any particular playlist, we play hits from back in the ’90s to the current year. I have a strong and dedicated team that produces some great content. I’m gearing up for my own Mr.Keeyzo’s radio show with Chrys Childs coming Spring of 2023.

We shot 12 episodes of our first TV show Midday with Shay McCray which will launch at the beginning of 2023. We partnered with You42 Network and I’m looking forward to doing some great things with them. We have a lot in store. Tap in. We’re on all platforms.

by Tony O. Lawson

 

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Equity Crowdfunding: A $5 Million Opportunity for Black Entrepreneurs and Investors

2 mins read
Equity Crowdfunding

In recent years, equity crowdfunding has grown in popularity as a way for entrepreneurs to raise capital and for investors to gain access to a wider range of investment opportunities.

This is good news for Black founders, as it offers an alternative to traditional funding sources such as bank loans and venture capital, which have often been difficult for them to access due to systematic biases and discrimination.

According to reports, the percentage of venture capital invested in Black founders decreased from 1.3% in 2021 to 1% in 2022.

Through equity crowdfunding, Black founders can bypass traditional gatekeepers and directly pitch their ideas to a larger audience. As permitted by the JOBS Act, founders can potentially raise up to $5 million in one year through crowdfunding offerings.

Additionally, equity crowdfunding can provide Black investors with opportunities to build wealth by allowing them to invest in early-stage companies that may not otherwise be accessible to them.

Many Black investors may lack the resources or connections to participate in conventional venture capital or angel investing, but equity crowdfunding allows them to invest as little as a few hundred dollars in a company they believe in.

This not only provides the opportunity to potentially earn a return on their investment but also allows Black investors to support and empower other Black founders and entrepreneurs.

Equity crowdfunding is not without its risks and challenges, however. As with any investment, there is no assurance of a return, and there is an inherent risk of loss.

Before committing to a campaign, both founders and investors must carefully consider the terms of the investment and conduct their due diligence.

Equity crowdfunding provides Black founders and investors with a chance to generate wealth, foster each other’s success, and increase diversity within the startup industry through mutual support.

It is important to consult with a legal professional when considering equity crowdfunding as the rules and regulations can be complex and vary from country to country.

 

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Network = Net Worth: Leveraging Social Capital for Black Business Success

3 mins read
Social Capital

The term “social capital” describes the networks, norms, and trust that enable cooperation and coordination within a society.

Social capital is often mentioned as the secret to business success, particularly for Black business owners who may encounter additional obstacles and difficulties related to discrimination and bias.

Social capital is crucial for the success of Black businesses in part because it gives access to opportunities and resources that might otherwise be difficult to obtain. Strong social ties, for instance, can give access to information about job openings or funding opportunities as well as introductions to potential customers, suppliers, or partners.

Social capital not only facilitates resource access but also fosters a sense of support and community among business owners. In order to get advice, mentorship, and emotional support during trying times, Black entrepreneurs need to be able to develop strong networks and relationships within the Black community. For Black business owners, who may experience discrimination and other difficulties that can make it more difficult to succeed in the business world, this sense of community can be particularly crucial.

Building social capital can be challenging for Black entrepreneurs, though, as they might encounter difficulties joining certain social networks or feeling left out of particular business associations or events. Finding and actively participating in groups and networks that are inclusive of and supportive of Black business owners is one strategy for overcoming these obstacles. This could entail becoming a member of professional organizations or a business incubator or accelerator program that supports diversity and inclusion.

Active involvement in the community and a commitment to civic and social causes are two other important ways to increase social capital. Black business owners can develop trust and credibility by taking part in community activities and giving their time and resources to causes that are significant to the area. This can result in stronger social ties and more opportunities for success.

Building strong social networks and connections can help to provide access to resources, support, and opportunities that can help to overcome some of the challenges that Black entrepreneurs may encounter. Social capital is, in summary, a crucial component of success for Black businesses.

Black business owners can develop the social capital required to thrive in today’s hyper-competitive business environment by being actively involved in, making a contribution to, and developing relationships with a wide range of mission-aligned people and organizations.

Tony O. Lawson

Exploring the Roots of Africa’s Underdevelopment in Walter Rodney’s ‘How Europe Underdeveloped Africa’

3 mins read
how europe underdeveloped africa

“How Europe Underdeveloped Africa” was released in 1972. In his book, author Walter Rodney asserts that Europe, both during and after colonial rule, deliberately stunted Africa’s economic, political, and cultural development through a variety of means.

The first part of the book provides an overview of Africa’s pre-colonial history, stressing that the continent was not a “blank slate” when Europeans began colonizing it. Rodney goes on to discuss the many ways in which Europe stole wealth and resources from Africa, including the slave trade, land expropriation, and the exploitation of natural resources.

The author makes the central claim that European development was built on the underdevelopment of Africa. According to Rodney, the wealth and resources extracted from Africa were critical to the Industrial Revolution and the subsequent economic growth of Europe. Moreover, he claims that the structural adjustment programs of the IMF and World Bank, along with other European economic policies imposed on Africa, have hampered the continent’s progress.

Rodney elaborates on the cultural effects of colonialism in Africa, highlighting the imposition of European ideologies and the denigration and suppression of African cultures. He argues that many Africans’ lack of self-assurance and self-determination can be traced back to Europe’s cultural dominance, which in turn has contributed to the continent’s ongoing underdevelopment.

The history of Africa and its relationship with Europe is explored in “How Europe Underdeveloped Africa,” which is a powerful and thought-provoking book as a whole. Rodney’s critique of Europe’s marginalization and exploitation of Africa is compelling and well-supported by historical evidence. Those curious about Africa’s past and present will find this book to be essential reading.

THE AUTHOR

Born in Guyana in 1942, Dr. Walter Rodney was a scholar, politician, and historian. After finishing his undergraduate degree, he went on to earn a Ph.D. in African History from the School of Oriental and African Studies at the University of London.

Additionally, he took part in liberation movements in the Caribbean and Africa.

He was only 38 years old when he was assassinated in Guyana. Decades after his passing, people continue to honor his contributions to politics and history.

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Conscious Consumerism & Racial Justice: The Importance of Supporting Black-Owned Businesses

5 mins read
Conscious Consumerism

The term “conscious consumerism” refers to the practice of being conscientious of the effects of one’s purchasing choices on both a personal and societal level.

This can include a range of factors like supporting marginalized communities, fair labor practices, and environmental sustainability.

Supporting Black-owned businesses is one aspect of conscious consumerism that we are particularly passionate about.

Supporting Black-owned businesses has the potential to empower the Black community economically as well as combat systemic racism and advance social justice.

Black entrepreneurs have been disproportionately affected by the history of systemic racism and discrimination in the United States, which has also restricted access to funding, customers, and other resources.

The National Bureau of Economic Research estimates that in 2017, the revenue disparity between Black-owned and non-Black-owned companies was around 23%. Even after accounting for variables like business size, industry, and location, this gap still exists. Customers can directly support the reduction of this gap and the advancement of economic equality by choosing to patronize Black-owned businesses.

Supporting Black-owned businesses can help address issues of representation and visibility in addition to economic empowerment. Many Black business owners have struggled to get their goods and services recognized and publicized in the general market. By making the decision to patronize Black-owned businesses, customers can contribute to boosting the visibility and voices of these business owners as well as drawing attention to their goods and services.

Customers can actively support Black-owned businesses in a number of ways, both online and in their own neighborhoods. One of the most effective ways is to simply choose to spend your money with these companies rather than with big, established corporations. Simple examples of this include choosing to eat at a Black-owned restaurant rather than a national chain or buying food at a farmers market run by Black people as opposed to a chain store.

Customers can also look for sources and directories that highlight businesses in their area that are run by Black people. Lists or directories of Black-owned businesses have been compiled by numerous cities and organizations, and they can be a useful place to start when looking for companies to support. Many options are available for searching for and buying products on websites like ours.

Customers can support Black-owned businesses by recommending them to their friends, family, and followers on social media in addition to making purchases from them. Word-of-mouth advertising has a lot of power, and a quick social media post or recommendation can do a lot to promote a Black-owned company and bring in new clients.

Finally, customers can help Black-owned businesses by supporting laws and policies that are advantageous to them. Supporting legislation that gives Black-owned businesses access to funding and resources or making an argument for their inclusion in government contracts and procurement procedures are two examples of this.

It’s crucial to understand that promoting social justice and battling systemic racism involve more than just supporting Black-owned businesses. Other actions that consumers can take include taking part in demonstrations and advocacy campaigns, giving financial support to organizations that promote racial equality, and educating themselves about racial and racist issues.

However, consumers can make a difference and help bring about positive change by patronizing Black-owned businesses, which is a concrete and effective way to do so. Customers can support Black entrepreneurs’ economic empowerment by choosing to patronize these companies and recommending them to others, as well as by encouraging representation and visibility for this group of business owners.

Individual consumer choices can have an impact and help build a more just and equitable society in today’s increasingly interconnected and globalized world.

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New Year, New Brands: Black-Owned Brands To Start Your 2023 Right

4 mins read
Black-Owned Brands To Start Your 2023 Right

As the new year begins, it’s important to consider the brands that we choose to support. Not only do our purchasing decisions impact our own lives, but they also have a ripple effect on the world at large.

In this article, we will discuss some Black-owned brands that are worth supporting in January and beyond. If you’re interested in shopping smarter this year and surrounding yourself with excellent products, we’ve got you covered.

Black-Owned Brands To Start Your 2023 Right

The Glamatory

Black-Owned Brands To Start Your 2023 Right

The Glamatory is a vegan makeup line founded by Mimi J – well-known for her work as a professional makeup artist and beauty influencer.

Her mission is to provide products that enhance a woman’s natural beauty and confidence, no matter her skin color, making The Glammatory the perfect Black-owned brand to shop from if loving yourself more is one of your #2023goals.

 Frances Grey

Frances Grey was founded by Debbie Lorenzo, a Jamaican-American born and raised in Queens, New York. Her great-grandmother, Frances Grey, was a seamstress whose history and dedication inspired Debbie’s pursuit of millinery and the creation of her own custom, luxury hat brand.

If you want to upgrade your wardrobe with aesthetic, sophisticated pieces, then shop Frances Grey. 

Silver & Riley

Black-Owned Brands To Start Your 2023 Right

Silver & Riley is a women-led luxury bag brand created by Lola Banjo. She takes pride in producing high-quality travel and fashion accessories in the same factories, with the same premium materials, as other high-fashion labels, and sells them at a fraction of the cost.

Shop smart, shop Black, and elevate your travel this year when you utilize Silver & Riley products.

Nurilens

In 2020, Dr. Juliette Nelson created Nurilens, an environmentally friendly eyewear brand. The company specializes in hand-crafted wood frames with polarized, high-index lenses that include blue light and UV protection. Nurilens empowers you to protect your eyes and the environment, all while looking chic.

Best Life Organics

Shadora Martin created Best Life Organics along her personal journey into elevated self-love. She started making natural, non-toxic, cruelty-free body-care products in her own home and continues to handcraft each of the products she shares with the world today. Best Life Organics allows you to support a small, Black-owned business and support yourself at the same time. 

Mercia Moore 

Black-Owned Brands To Start Your 2023 Right

Art and culture collide at the Mercia Moore artisan studio. Merica, the founder, and creator behind the brand shares her studio creations through the shop and lends her skill via her active social media. Find African-inspired jewelry and homeware, and take up a new artistic hobby with your own Mercia Moore silicone molds.

Dressed in Joy

Black-Owned Brands To Start Your 2023 Right

Be bold, and step out in statement-making style this year when you wear Dressed in Joy apparel. The founder, Mikaela Pabon, wanted to create an apparel brand that makes customers feel like they’re adorned in the personification of joy. The brand focuses on athleisure, inspiring comfortable confidence.

Instead of “new year, new you”, these Black-owned brands aim to elevate the unique qualities you already have.

With this list, we empower you to adorn yourself with culture, history, and joy and carry yourself with confidence and excellence everywhere you go. 

Submit a brand for an upcoming list

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Home for All: A New Approach to Homelessness in Birmingham

3 mins read
Home for All

On Tuesday, Jan. 10, the City of Birmingham will propose a new pilot program called “Home for All” before the city council. The goal of this program is to provide safe and dignified sleeping alternatives for the city’s chronically unhoused residents through the purchase of micro-shelters, also known as “Pallet” sleeping units. The Home for All pilot program will be a community-wide partnership that aims to provide not only shelter, but also a number of wraparound services for those in need.

The issue of chronic homelessness has long been a concern in the City of Birmingham, and this new pilot program aims to address this issue in a comprehensive and holistic way. The Pallet sleeping units, which are small and portable shelters made of wooden pallets covered with a waterproof tarp, will provide temporary housing for individuals and families experiencing homelessness. These units are designed to accommodate up to four people and are intended to be a short-term solution while more permanent housing options are being pursued.

In addition to the Pallet sleeping units, the Home for All pilot program will also include a number of wraparound services to support the needs of chronically unhoused individuals and families. These services may include access to healthcare, mental health services, substance abuse treatment, job training and placement, and other support services. The goal of these wraparound services is to address the root causes of homelessness and to provide the resources and support needed for individuals and families to achieve long-term stability and self-sufficiency.

The Home for All pilot program will be a community-wide partnership, with involvement from a variety of local organizations and stakeholders. This includes non-profit organizations, faith-based groups, government agencies, and private businesses. By bringing these diverse groups together, the pilot program aims to create a network of support and resources for those experiencing homelessness in the City of Birmingham.

The City of Birmingham is confident that the Home for All pilot program will be a successful and effective solution to addressing chronic homelessness in the city. However, it is important to note that the pilot program is just one piece of the puzzle. Addressing homelessness requires a multifaceted approach that includes not only temporary housing solutions, but also addressing the underlying social and economic factors that contribute to homelessness. The City of Birmingham is committed to working with its community partners to address homelessness in a comprehensive and sustained way.

 

 

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Veteran Has Raised Over $7M For WiGL, Patented Wireless Charging Technology

1 min read
wigl

Wireless-electric Grid Local Air network (WiGL) is developing a new technology that enables users to log onto an electrical power “WiGL” network and power or recharge their devices wirelessly.

Dr. Ahmad Glover is the founder and interim CEO of WiGL Inc. As a 30+ year member of the U.S. military, he directed and managed large-scale energy transfer programs.

He also worked as a strategic technical advisor for the Federal Aviation Administration, where he oversaw multibillion-dollar space and special operations programs.

In this episode, Dr. Glover discusses:

  • The problem WiGL technology is created to solve
  • Making history after raising $5 million via equity crowdfunding
  • His current and pending patents
  • Safety concerns related to cell phone radiation and wireless frequencies.
  • How he envisions this technology being used in the near future

Check our WiGL’s equity crowdfunding campaign here.

DISCLAIMER: This Reg. A+ offering is made available through StartEngine Primary, LLC, member FINRA/SIPC. Please read the Risk Factors disclosure before investing. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.

 

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Angel Investing 101: A Guide to Startup Investing

5 mins read
Angel Investing

In this article, we will be exploring the world of angel investing, a type of financing where individuals invest their own money into early-stage companies.

If you are new to the concept of angel investing, or if you are simply looking to learn more about this exciting and potentially lucrative area of the financial market, then this article is for you.

Angel Investing 101

Angel investing entails investing your own funds in a startup in exchange for equity in the business. Angel investors come from a variety of backgrounds and often invest during the early stages of a company’s development.

Often, these businesses have no customers or revenue. They may only have a good business plan, have finished a beta test, or have built a “minimum viable product.” An angel investor’s money is often used for research and development, to help the company figure out what products and services to offer, to come up with a business plan, or to figure out who their target market is.

Angel investors can work independently, as a team in an angel network, or through intermediaries like equity crowdfunding platforms and syndicates.

Historically, angel investors have been wealthy individuals who contributed funds directly from their own wealth, as opposed to a venture fund or institution. Angel investing was primarily conducted through direct relationships between private investors and startups for the majority of its existence. Non-accredited investors were excluded from these opportunities.

However, angel investing has evolved over time to include third parties such as equity crowdfunding platforms. This is an exciting development for both founders and potential investors, as it expands the pool of potential investors who have the capital to deploy but are not accredited.

It’s a win-win situation, as startups now have access to a larger pool of investors, and everyday investors now have access to potentially lucrative startup investment opportunities that were previously reserved only for the wealthy.

How to Become an Angel Investor

Usually, meeting the standards of being an accredited investor is a prerequisite for becoming an angel investor.

Accredited investors must meet at least one of the following criteria:

  • Individual income exceeding $200k for each of the past two years with a reasonable expectation that the $200k threshold will be reached in the current year
  • Joint income with a spouse exceeding $300k for each of the past two years with a reasonable expectation that the $300k threshold will be reached in the current year
  • Personal net worth (excluding the value of a primary residence) exceeding $1M
  • Hold in good standing a Series 7, 65 or 82 license

Due to changes in securities law, however, non-accredited investors (the vast majority of Americans) are now allowed to legally invest alongside accredited investors under certain guidelines.

For example, both accredited and non-accredited investors can invest in private businesses through equity crowdfunding platforms.

Know how to find deals

Many angel investors already have a network of startup founders and entrepreneurs.  Since they communicate with these individuals often, they sometimes hear about startups and can find deals to consider.

If you don’t have access to this kind of network, you can contact a startup founder directly if you find a company with an interesting new business idea that you’d like to learn more about and possibly invest in.

You can also find deals by joining an angel group. This gives you access to a group of angel investors who assess and invest in startups together.

Choosing which startups to invest in

Before investing your hard-earned money, you must do your homework or “due diligence”. This is the process of conducting research on an investment opportunity to determine its potential. Due diligence enables investors to make more informed investment decisions, mitigate risk, and uncover additional valuable information about a company’s chances of success.

Since most startups fail, investors must do thorough and objective research on any startup they might want to invest in to make sure they fully understand the risks and benefits and weigh them against each other.

Angel investing is risky, but potential high returns and satisfaction from nurturing a startup can make it worthwhile.

Interested in investing in Black founders? If so, please complete this brief form.

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Black Owned Electric Vehicle Charging Startup, SparkCharge Has Raised $30M

3 mins read
SparkCharge

There are currently more electric vehicles on the road than ever before — with a record 6.6 million sold in 2021, double the previous year’s total.

However, a recent study found that concerns about the accessibility of nearby charging stations deter more people from buying electric vehicles.

This reluctance is frequently caused by “range anxiety,” the uneasy feeling that prospective buyers or current EV owners experience when they are concerned about having sufficient battery power to reach their destination.

SparkCharge is on a journey to change the way the world charges electric vehicles. Their charging-as-a-Service (CaaS) network, along with their mobile app Currently, enables EV owners to charge whenever and wherever they want.

“We are super excited to bring mobile charging and charging as a service (CaaS) to the next level.” shared Josh Aviv, SparkCharge CEO, and founder. “It’s exactly what is needed right now for America to catch up with electrification of transportation. Mobile charging is a necessity to accelerate the adoption of electric vehicles. Being able to have your EV charged whenever and wherever you’d like takes away the time wasted at chargers and eliminates the worry of finding a charger that isn’t out of order. We’ve focused solely on making charging as easy as possible from building the portable charging hardware to mobilize charging, and the software to make it easy to access.”

sparkcharge

With the click of a button, SparkCharge subscribers in 121 U.S. cities can arrange a charging appointment.

If you don’t want to subscribe monthly, you can still pay for a single one-time charge that will be delivered within 90 minutes, according to the business.

In both cases, a technician delivers mobile Roadie charging stations to your car, which may be parked anywhere—at home, at work, or just about anywhere else.

SparkCharge raised approximately $30 million from investors including Mark Cuban, Tale Venture Partners, and rapper, Pusha-T. Aviv pitched SparkCharge on ABC’s “Shark Tank” in 2020, where Cuban and Lori Greiner invested $1 million for a 10% equity stake in the company.

Aviv told CNBC that the investments currently value SparkCharge at approximately $110 million. He added that the company has already established partnerships with major brands such as Kia Motors, Hertz, and Uber, and is on track to generate $10 million in revenue in 2022.

by Tony O. Lawson

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