After launching his streetwear apparel brand, Spergo, three years ago, 15-year-old Trey Brown set his sites on the entrepreneurial TV show, Shark Tanks, with hopes of taking his business to the next level. He wouldn’t leave empty-handed. During his appearance on the show, the young Philly native was offered a $300K investment deal from none other than Daymond John, the founder of the iconic FUBU brand. John will receive a 20% stake in Spergo in exchange for his investment CNBC reports.
“Obviously, I relate to this,” John said. “I started a clothing brand, and my mother was—and is—a huge inspiration in my life.”
Like John, Trey launched his clothing brand with the help of his mother. The brand sells apparel like socks, T-shirts, hoodies, and sweatpants with a price range between $12 and $98.
John initially hesitated to invest in Spergo, commenting that Spergo is already successful without outside investment. However, when another Shark on the show, Mark Cuban, offered Trey $300K for a 25% stake, John decided to throw his hat in the ring.
During the episode’s taping, Trey said Spergo is on pace to pull in $2.2 million in 2021 sales. He also noted that he recently opened a second clothing store in The Pentagon City Mall in Washington, D.C. and that he’s scored a deal with the Philadelphia 76ers. The young entrepreneur’s first store was opened in Philadelphia after Trey received a $25,000 business grant from Diddy last year.
Needless to say, Trey is excited about his partnership with John, mentioning that for him it was like a “full circle moment”. Trey aims to be a billionaire by the age of 21..
