 |
Jonathan KoonChinese-American entrepreneur, artist and designer who became a millionaire at age 16.
Country:
 USA |
Biography of Jonathan Koon
Jonathan Koon, a Chinese-American entrepreneur, artist, and designer, became a millionaire at the age of 16. He was born in 1983 in Queens, New York to immigrant parents from Hong Kong.
At the age of 15, Koon started his own company called 'Extreme Performance Motorsports' while studying at Stuyvesant High School. The company specialized in importing car tuning parts from Asia. By his sixteenth birthday, Jonathan had opened large bank accounts and established relationships with Asian suppliers, supplying custom scales, wheels, stereos, and other specialty equipment. He described his business as a "virus that spreads" in Bloomberg Businessweek Magazine. His company became one of the major suppliers for the popular TV show 'Pimp My Ride'.
During his studies at Georgetown University, Koon decided to close his business. He graduated with a degree in International Business and Management. In 2004, he ventured into entrepreneurship again and patented several auto accessories, including mobile phone holders and air ionizers, which gained attention from music executives and rappers.
Koon transitioned from reselling to manufacturing overseas, leading him to sign contracts with clothing manufacturers. He founded 'Koon Enterprises' where he produced headwear for brands such as 'Rocawear', 'Honda', 'Costco', 'Federated Private Label', and more. In 2008, he acquired the streetwear brand '8732' from rapper and businessman Jay-Z. Together with hip-hop artist Young Jeezy, Koon opened 'Young Jeezy 8732 Apparel Ltd.', which became one of the most successful streetwear brands in the USA, generating over $40 million annually.
Currently, Koon's company is under the management of 'Tykoon Brand Holdings', located in Queens, New York. The company employs 27 people, and Koon claims that its total value is $80 million. In 2010, he collaborated with Italian designer Domenico Vacca to create the 'Domenico Vacca Denim' line. Their partnership allowed Koon to provide the designer with a customer base, while Vacca shared his experience in sports apparel production.
In April 2013, Koon opened 'Private Stock', a clothing label and store on 76 Worcester Street in New York, previously the home and studio of Andy Warhol. The New York Times praised the design of the store, stating that Koon knows how to present his merchandise and describing it as magnificent. On June 7, 2013, Koon's flagship store was recognized as the 'Most Extravagant Store in New York' by the fashion website Refinery29.
Koon is the owner of an extensive clothing collection, with over 2000 pairs of jeans. In 2014, he partnered with 'The Fabergé Big Egg Hunt', a charity fundraising company, to host the largest egg hunt in New York. The event required participants to find and submit keywords from various eggs displayed as sculptures by artists from around the world. The funds raised from the event went to 'Studio in a School', an organization founded by Agnes Gund in 1977, which provides art education to New York City children. The event also aimed to raise awareness for the 'Elephant Family' wildlife fund, dedicated to protecting endangered Asian elephants.
For his own egg sculpture, Koon acquired two exquisite Chinese antique vases from the mid-20th century. He shattered the vases into fragments and covered a large fiberglass egg (30 x 22 inches) with 24k gold leaf, allowing the gold to shine through the cracks. Koon named his creation 'The Golden Child Egg', symbolizing the fusion of past and future, culture and artistic form.
'The Golden Child Egg' was selected as one of the 20 pieces auctioned by Sotheby's on April 22, 2014.
When asked about his attractiveness as a business partner and his competitive advantages, Koon emphasized his ownership of factories in China, fluency in Cantonese and Mandarin, and his global travels. He emphasized the importance of broadening one's perspective beyond the US fashion scene and understanding the global market to succeed.
Overall, Jonathan Koon's entrepreneurial journey showcases his ability to successfully navigate various industries and create successful businesses.
