The Oodie: Million-dollar a day Aussie business booming during Covid
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Covid has posed an incredible challenge to many businesses but one Aussie brand that’s gone from strength to strength in the past 18 months is Oodie.
The brainchild of 26-year-old Adelaide entrepreneur, Davie Fogerty, its hooded blankets have been snapped up as a lockdown essential as people try to stay as cosy and warm as possible while under stay at home orders.
Fogerty tells Yahoo Lifestyle that the brand started seeing an increase in sales during the first wave of lockdowns in March 2020, but its popularity has only skyrocketed from there.
"Being the perfect stay-at-home product, we naturally experienced significant growth over the past 18 months," he says.
"In March 2020 we made around $1.7 million in sales (and) from July through to August, we experienced some exponential sales figures - $7.3 million - as Aussies turned to Oodies as a source of warmth and comfort."
The brand has maintained steady growth since then and now averages an eye-watering 205,000 Oodie sales a month - with an individual Oodie retailing for around $109.
Recently, Fogerty says they've experienced, "several days where we garner $1 million in revenue".
"We ultimately put our success down to our ability to understand what our customers want and need," he says.
By no means is Oodie the only brand selling hooded blankets - which are basically oversized hoodies made of super soft fleece - in Australia.
Bonds, Cotton On, Adairs, and even Kmart and Big W all having their own version of the Oodie available, and the US brand that originally brought the idea of the hooded blanket to market, The Comfy, also sells its product locally on Amazon Australia.
However, with its range of prints that include avocado on toast, corgis, Harry Potter, The Mandalorian and Frozen characters, Oodie seems to have won the hearts of the TikTok generation.
The social media platform is filled with videos of teens and young people dancing around in their Oodies, which are often worn backwards so the hood completely covers their face.
They've been trending again since the Greater Sydney lockdown was announced two and a half weeks ago, with one teen sharing a video of herself dancing in an Oodie in front of a photo of NSW Premier Gladys Berejiklian, writing, “when daddy gladdy gives me an excuse to live exclusively in my oodie for the next 2 weeks”.
Another posted a video of their dog dressed in an Oodie with the caption, “when you hear lockdown is starting”.
Interestingly, the most popular prints in Australia are the Koala, Avocado and Sloth, while the plain Grey and Navy designs have also been very highly sought-after.
Expanding into trackies and UGGs
On the back of this stratospheric success, the brand has expanded its offering this winter, branching out into UGG boots in a collaboration with UGG Boots Australia, and a line of tracksuit pants - essentially covering the gaps left by the Oodie which reaches from your head to your knees.
Retailing for $199 (currently on sale for $174), the UGGs are Australian-made and come in seven different prints including unicorns, koalas and pandas, that match exisiting Oodie styles.
Meanwhile, the trackies are made of a lightweight combination of rayon and spandex and are available in two unisex sizes.
Unlike the Oodies and the UGGs which come in a range of fun prints, these are a simpler design that this stage are only available in either grey or navy blue, and are currently on sale for $40.
"Launching trackies seemed like a natural next step for our brand," Fogerty tells Yahoo Lifestyle.
"We pride ourselves on our ability to offer Aussies comfortable, long-lasting loungewear pieces. With more Aussies staying home now more than ever and opting for comfortable, casual clothes, offering trackies is a no-brainer for us."
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