This man failed 12 businesses, but now he is running a $850 million empire.
ANOTHER DAY—ANOTHER STARTUP STORY
Successful people don't want you to know this…
The secret to generational wealth is hidden in plain sight.
In 2017, this man thought he'd never escape poverty.
Today? He runs a $850,000,000 empire.
His story will teach you more than 1000 business books:
Meet Davie Fogarty
At just 28 years old, Davie is the youngest judge on Shark Tank Australia and the founder of The Oodie, a brand that has sold millions of wearable blankets worldwide. But before all the success, he was just another struggling entrepreneur with a string of failures.
Davie was into business ever since school.
He had tried everything:
Tried a clothing business as a teen.
Sold headphones and gym wear.
Flipped Instagram pages.
Even launching a Vietnamese roll shop.
None of them worked.
Yes, he failed 12 businesses.
He thought he'd be broke forever.
Each failure pushed him deeper into self-doubt, forcing him to question if he was even meant for business.
But little did he know he was about to discover something that'd change his life forever.
Lesson 1: A gap in the market.
In 2017, Davie came across a Facebook post about weighted blankets.
At first, it seemed like just another viral trend.
But the comments told a different story—hundreds of people were asking where they could buy one.
That's when it hit him.
He saw an opportunity—a massive gap in the market.
There was strong demand but no major suppliers.
So, he began researching and realized that while weighted blankets were popular in the U.S., they weren’t widely available in Australia.
That was his entry point.
That gap? It became the foundation of his multi-million-dollar business.
Davie moved quickly, working with manufacturers to create his own version of the product—Calming Blankets was born.
The result?
Within a year, Davie’s weighted blankets made over $10,000,000 in sales.
$1,500,000 in profit in Year 1.
$2,500,000 in profit in Year 2.
It was clear—he had found his breakthrough.
But just as he started to scale, he made a mistake that almost cost him everything.
Lesson 2: Lack of focus.
Success can be dangerous.
Early wins made Davie want to expand.
With money flowing in, Davie became overly ambitious.
He launched multiple brands, expanding into everything from pet products to home goods.
His mindset was simple: More products = more sales = more profit.
But instead of scaling smoothly, his business became chaotic.
The rush to expand led to:
His brand’s identity got diluted.
Customers were confused.
Operations became a mess.
Marketing efforts were stretched thin.
And then, sales started to drop.
Be he quickly learned: → chasing hype leads to chaos.
That’s when he had to step back and ask himself:
What do I want my brand to stand for?
He realized that instead of trying to dominate every market, he needed to refine his strategy. That led him to his next big shift—one that would take The Oodie from a successful product to a household name.
Here, Davie explains the impact that making a lot of money had on him:
Lesson 3: Strategy and positioning matter more than products
Learned from the mistake, Davie had a crucial realization: the most successful brands aren’t just selling products; they’re selling an experience.
Davie rushed into product launches, thinking more products = more sales.
But it backfired. His brand lost focus, products confused customers, and cheaper alternatives watered down his value.
Then, he paused and asked himself: “What do I want my brand to stand for?”
The answer? Strategy and positioning.
Rather than offering dozens of random products, he narrowed his focus to one thing—cozy, high-quality loungewear. He invested in premium materials, improved product designs, and doubled down on his marketing strategy.
Instead of competing on price, he built The Oodie as a premium brand. Customers responded, and the brand exploded.
And guess what? — It worked.
Within three years, his business had scaled to $150 million in revenue.
Today, Davie continues to thrive with Oodie, leading the charge in both innovation and strategic growth.
He's not selling products anymore—he's creating a movement, a lifestyle that resonates with millions.
Final thoughts
Davie Fogarty’s story proves that …
Success isn’t about avoiding failure.
It’s about learning from it.
For early-stage founders, I hope you keep these lessons in mind because they could be your blueprint for lasting success.
THANKS FOR READING!
- Gracie from What A Startup
Inspiring success story !
Awesome 🙌