The Oodie founder Davie Fogarty is looking for a new CEO to take it ‘to the billion-dollar milestone’
Looking for a job where you can be in your comfort zone all day long? Maybe chief executive of The Oodie is the job for you.
Online retailer The Oodie is looking for a new chief executive, with founder Davie Fogarty putting out a call for someone to step into the top job.
The Oodie went from a standing start in 2018 to be a $200m a year business by 2021, with the overarching Davie Group selling Oodies – oversized plush hoodies – calming blankets and a number of other consumer items online.
In mid-2021 the Adelaide-based company was talking up the prospects of listing on the Australian Stock Exchange and was reportedly canvassing investors for $20m in pre-initial public offer funding in May last year.
READ MORE: The story behind The Oodie
The company hit a road bump in March this year, laying off a rumoured 40-plus staff as sales dropped in the wake of a pandemic-inspired sales surge.
Mr Fogarty, who has put his company’s success down to his expertise in online marketing – tips which he shares regularly via his YouTube channel – was the central region finalist in EY’s Entrepreneur of the Year Awards for 2021.
He said on his LinkedIn profile this week that the company was looking for someone to succeed him in the top job.
“We are looking for a new CEO that can take The Oodie to the billion dollar milestone,’’ he said.
“To be clear, I will always be involved in the brand and I see more potential than ever, however I will always do what’s best for the company.
“There is potentially a better CEO out there than myself for our current stage.
“If anyone has any recommendations (regardless of location) please reach out and we will get in touch.’’
Much of the success of Mr Fogarty’s companies has been down to their social media and marketing strategies, with the company testing new products online and quickly moving on if they don’t gain traction.
The Oodie has more than 250,000 followers on Tiktok with their social media manager Linda Huynh having 213,000 followers alone, with her videos liked more than 4.8 million times.
The company has been contacted for further details.
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