This 15-year-old entrepreneur just landed a $ 300,000 Shark Tank contract for his clothing brand

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Fifteen-year-old entrepreneur Trey Brown finds new business opportunities so quickly that even the most experienced homeowner should heed.

Three years after the launch of Philadelphia-based streetwear clothing brand Spergo, Brown got $ 300,000 this month. Shark aquarium investment agreement of John daymond, the founder of clothing company FUBU, in exchange for a 20% stake in Spergo, CNBC reported.

“Obviously I identify with that,” John said. “I started a clothing brand and my mom was – and is – a huge inspiration in my life. “

Like John, Brown launched his startup in early 2018 with the help of his mother, Sherell Peterson, a retired seamstress who is now a full time COO of Spergo. The brand sells clothing like socks, t-shirts, hoodies, and sweatpants for $ 12, $ 45, $ 80, and $ 98, respectively.

(Image: Instagram / ceotreybrown)

Now Trey Brown said last week on ABC Shark aquarium recording the episode, Spergo is set to generate $ 2.2 million in sales in 2021. He recently opened a second clothing store at the Pentagon City Mall in Washington, DC, and signed a deal with the Philadelphia 76ers. The store’s first store opened in Philadelphia after the teenager received a $ 25,000 business grant from Diddy last year.

During Brown’s last deal, John was initially reluctant to offer an investment. He pointed out that Spergo had already succeeded on his own. But when my compatriot Shark Marc Cuban offered Brown $ 300,000 for a 25% stake in the business. John decided to match him. Brown then negotiated with John up to 20%. Peterson assured John that the money would help Spergo grow faster.

Sherell Peterson said John’s investment will go towards hiring a fashion designer, upgrading the startup’s e-commerce technology, and advancing future production.

For Trey Brown, his goal is to become a billionaire by the age of 21. But, he noted, a partnership with John already feels like a full time.

“I used to bring Mr. Daymond’s book to school and read it every time I finished my job,” Brown said. “Now, to be in partnership with [him], he’s still imbibing himself right now.


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