Teen entrepreneur and SPERGO owner Trey Brown appeared on Shark Tank and won $300,000 for his business. FUBU owner Daymond John offered the 15-year-old the deal while Brown appeared on the show with his mother, Sherell Peterson, on Nov. 5.
The Shark Tank appearance won Brown $300,000 for SPERGO from the FUBU owner, and John will take a 20 percent stake in the company with the deal. Brown is the creator and CEO of the Philadelphia-based luxury streetwear brand SPERGO,
The teenager was successful in negotiating John down from 25 percent. Brown had initially wanted to sell a 10 percent stake in his clothing line.
Brown began the Philadelphia-based luxury streetwear brand with his birthday money when he was 12-years-old with the help of his seamstress mother.
The young entrepreneur began the company with $178, and by 2021, he had earned more than $2 million, and Peterson was able to retire.
Shark
“Obviously, I relate to this,” said John. “I started a clothing brand, and my mother was — and is — a huge inspiration in my life.”
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The young entrepreneur said that it hadn’t yet sunk in that John was partnering with him in his company and noted that he used to bring John’s book to school with him.
“I used to bring Mr. Daymond’s book to school and I would read it any time I would finish my work,” said Brown. “Now, to be partnering with [him], it’s still soaking in right now.”
He posted a photo on Instagram of his Shark Tank appearance with a caption.
“THE MOMENT HAS ARRIVED. Trey and Sherell in the tank. Caption this moment below!”
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Brown began his company by selling t-shirts at local Philadelphia retailers by going door-to-door. His goal was to start a business to give himself and other kids more options in life. After receiving a grant from Sean Combs for $25.000, he hired his brother and four friends to work with him at the Odunde Festival.
The luxury brand now sells socks, sweatpants, sweatshirts, t-shirts, hats and other apparel. Brown says that he wants to be a millionaire by the time he is 21-years-old, and we believe he will succeed.
