On Shark Tank this month, Trey Brown, the founder, and CEO of clothing firm Spergo, scored a $300,000 investment deal with Daymond John, the founder of apparel company FUBU. According to Black Business, Brown got the investment arrangement from John in exchange for a 20% share in Spergo.
According to Sherell Peterson, Trey’s mother and the company’s COO, the funds will be used to hire a fashion designer, upgrade the brand’s e-commerce platform, and prepare for increased production.
Brown, who is now 15, founded the company when he was only 12 years old, with the help of a $178 birthday present. Following that, Diddy gave him a $25,000 grant, which he utilized to open the first of Spergo’s three stores in Philadelphia.
Sweatsuits, hoodies, boxer briefs, and accessories from his line mix luxury with urban sportswear. He was motivated to start his own business at such a young age because he wanted to change the course of his town, which had turned violent.
His goal was to encourage other youngsters his age, as well as adults, to stay out of trouble and pursue their aspirations.
“There’s a lot of violence in my neighborhood.” Children are being murdered, and children are murdering children. “I founded Spergo to provide another option for myself and my pals,” he told PhillyMag. “Spergo keeps me occupied and away from the streets.”
Meek Mill, Diddy, and Tierra Whack have all expressed interest in his company since its inception in 2018. Eric Thomas, Shaquille O’Neil, Charles Barkley, Grant Hill, GHerbo, Da Baby, and Ed Mylett are among the celebrities who support his business.
Brown has sold over 30,000 units of clothing and has made over $200K in sales for multiple months in a row, according to the company’s website.
Spergo has also established a number of wholesale agreements. The Philadelphia 76ers are one of his most recent contracts. Brown told Baller Alert about the agreement, “I began Spergo three years ago, and I would never have anticipated that I would be officially certified a 76ers partner by my home basketball team.”
Brown has become one of the most sought-after adolescent speakers in addition to being a teenpreneur. He’s given talks to high schools, youth clubs, and summits for young people. He was featured in a Times Square ad and was also chosen to appear in an ad for investment management business Invesco.