SPERGO Clothing Shark Tank Net Worth
During the pitch on Shark Tank, the net worth of SPERGO Clothing was estimated to be $3 million. However, after negotiations with the Sharks, the company’s valuation dropped to $1.5 million.
This means that the initial valuation of the company was considered to be too high by the Sharks, who may have felt that the company’s financials did not justify the initial valuation. As a result, the company had to lower its valuation in order to secure a deal with one of the Sharks.
Despite the drop in valuation, the founders of SPERGO Clothing were able to secure a deal and were able to receive valuable business advice from the Sharks to help grow their company.
What is SPERGO Clothing and Who is the founder of SPERGO Clothing?
SPERGO Clothing is a fashion brand that offers lifestyle clothing. They have a collection of streetwear and sportswear clothing items, such as hats, hoodies, headbands, socks, sweatshirts, and sweatpants.
The company strives to make its items accessible by hosting pop-up stores across the country. They have recently opened permanent stores in the King of Prussia Mall and the Pentagon City Mall.
SPERGO’s website is divided into men, women, children, and unisex clothing categories, and they manage to keep their costs affordable while maintaining exceptional quality and craftsmanship.
Trey Brown, a 15-year-old entrepreneur from Philadelphia, is the founder and CEO of SPERGO Clothing. He started the company with just $178 of his birthday money when he was 12 years old, to keep himself and his friends off the streets in response to rising concerns about crime in his neighborhood.
Trey reinvested the proceeds from the sale of his initial 16 shirts, which he sold directly to customers at local barbershops. In his first year, he sold $40,000 worth of shirts and continued to grow his business over time.
Despite being hospitalized for four months due to fatigue in 2020, Trey’s sales still totaled $825,000 for the year. He has even received recognition from famous black athletes and celebrities, including Sean “Diddy” Combs, who surprised him with a $25,000 award on The Ellen DeGeneres Show.
Trey invested this money in the establishment of a brick-and-mortar business and a small warehouse. Celebrities such as Meek Mill, Tierra Whack, Da Baby, Eric Thomas, Shaquille O’Neal, Charles Barkley, Grant Hill, Gherbo, and Ed Mylett have worn and promoted his apparel.
Trey also received a $200,000 award from the Philadelphia 76ers’ Buy Black initiative, which gave him a free promotion during game broadcasts, on Wells Fargo Center signage, and on digital advertisements displayed on the game floor.
SPERGO Clothing offers a range of clothing items, including socks, tee shirts, sweatshirts, hoodies, sweatpants, and shorts, of superior quality at prices ranging from $12 to $95.
SPERGO Clothing Shark Tank pitch
SPERGO Clothing, a high-end designer apparel brand founded by 15-year-old Trey Brown and his mother Sherell Peterson, appeared on Shark Tank seeking a $300,000 investment in exchange for a 10% stake in their company.
During the pitch, the Sharks were impressed with the quality of the clothing and Sherell’s sales skills, which involved selling on Saturdays until they ran out of merchandise. They ended up striking a deal with Daymond John, who invested $300,000 for a 20% stake in the company.
After the episode aired, SPERGO Clothing experienced a surge in online sales, processing nearly 1000 orders in the five days following the show’s initial airing.
In November 2021, they opened a third brick-and-mortar location in Arlington, Virginia’s Pentagon City Mall, and Trey hinted at the possibility of launching a footwear brand. In 2021, their sales totaled an impressive $2.5 million.
The deal with Daymond is currently undergoing due diligence, and the company remains operational as of January 2022.
Competitors of SPERGO Clothing
The SPERGO competes with the following companies; RtA Clothing, Paper Street Clothing, Neoprene Clothes, MADE Clothing and LRG
Net Worth of SPERGO Clothing
The company valuation was $3 million during the pitch and the company worth $1.5 million after the pitch.
SPERGO Clothing FAQs
What is SPERGO Clothing?
SPERGO is a clothing company focusing on lifestyle and fashion. Hoodies, caps, socks, headbands, sweatshirts, and sweatpants are all part of SPERGO’s Streetwear and Sportswear range.
Who is the founder?
Trey Brown is the founder and mastermind behind the brand.
How much were they seeking on Shark Tank pitch?
They were seeking for $300,000 in exchange for 10% equity stake in the firm, which was valued at $3 million.
Who won the deal with SPERGO Clothing?
Daymond invested $300,000 in exchange for a 20% equity stake in the firm.
Is SPERGO Clothing still in business?
The company continues to operate in the same capacity it did after the Shark Tank pitch.
Where is SPERGO Clothing located?
SPERGO Clothing is based in Philadelphia, PA.
Who is the CEO?
The CEO of SPERGO Clothing is Trey Brown.
What are the products of SPERGO Clothing?
The clothing line includes a variety of different styles and items, such as hoodies, caps, socks, headbands, sweatshirts, and sweatpants.
How long is SPERGO Clothing products last?
The average lifespan of an SPERGO Clothing product lasts up to 1-2 years.
Does SPERGO Clothing have online stores?
The clothing firm has an online store, which can be accessed via the official website.
What is SPERGO Clothing website?
SPERGO Clothing’s website is www.SPERGO.com and it contains all the necessary information about the company, its products and its founder.
What are Sizes of SPERGO Clothing?
Sizes go from small to triple x-large.
Does SPERGO Clothing do online orders?
Customers can order from their online store using their credit card and their order shipped directly to them.
How long will SPERGO Clothing order take to ship?
The firm ships orders within one to three business days.
What is SPERGO Clothing shipping policy?
Shipping fees vary from $10-$50 depending on the location, but each and every package includes free shipping within the continental US.
Can you return an item from SPERGO Clothing?
Yes, customers can return any item within ten days of delivery for a full refund. The only exceptions are custom-made items or those that have been worn, washed or damaged in any way.
Is SPERGO Clothing successful?
The firm has been in business for three years and its revenues have steadily increased over the years.
What is the material use to make SPREGO Clothing?
They use a high-performance, moisture-wicking fabric.
Where is SPERGO Clothing made?
SPERGO Clothing products are made in the USA.
What is the net worth of Trey Brown?
Trey Brown has an estimated net worth of $1.5 million.
