What Happened to SPERGO Clothing After Shark Tank?
What is SPERGO Clothing?
SPERGO is a clothing line that combines lifestyle and fashion. Hoodies, caps, socks, headbands, sweatshirts, and sweatpants are all part of SPERGO’s Streetwear and Sportswear range.
Furthermore, in order to make its products more accessible, the luxury lifestyle firm launches pop-up stores around the country.
At recent months, SPERGO established permanent sites in the King of Prussia Mall and the Pentagon City Mall.
Their website is separated into sections for men, women, and children, as well as one for unisex clothes. Surprisingly, despite its dedication to superior quality and craftsmanship, the company has managed to keep its prices low.
Who is the founder of SPERGO Clothing?
Trey Brown, 15, is the founder and CEO of SPERGO, a cutting-edge Streetwear and lifestyle firm situated in Philadelphia, Pennsylvania.
Trey founded the company when he was 12 years old, with $178 from his birthday money. He established the company in response to growing concerns about crime in his community.
SPERGO was the answer to his need to keep himself and his friends off the streets. The name is a mash-up of SPorts, hERoes, and GO.
Trey spent $178 on printing 16 shirts, which he sold directly to clients at local barbershops. He reinvested the earnings in more shirts and continued to do so throughout the process.
In his first year, he sold $40,000 in shirts, but he was only getting started. In 2019, sales totaled $176, 000. Trey worked so hard to create his company that he was hospitalized for four months in 2020 due to exhaustion. Regardless, sales for 2020 reached $825,000. In 2021, sales are predicted to exceed $2 million.
He began to attract the attention of black athletes and celebrities. On The Ellen DeGeneres Show, he was surprised with a $25,000 reward from Sean “Diddy” Combs.
Trey used Ditty’s money to start a brick-and-mortar firm and a small warehouse. Eeek Mill, Tierra Whack, Da Baby, Eric Thomas, Shaquille O’Neal, Charles Barkley, Grant Hill, Gherbo, and Ed Mylett are among the celebrities who wear and promote his clothing.
He also received a $200,000 grant from the Philadelphia 76ers’ Buy Black campaign. This gave him free exposure during game broadcasts, on the Wells Fargo Center marquee, and on digital advertising displayed on the game floor.
Superior quality socks, tee shirts, sweat shirts, hoodies, sweatpants, and shorts are included. Prices vary from $12 to $95.
What Happened to SPERGO Clothing at Shark Tank pitch?
Trey Brown, 15, and his mother Sherrill Peterson make an appearance on Shark Tank episode 1306 in search of a match for SPERGO, Trey’s high-end designer garment firm. The young entrepreneur is searching for a Shark to help him scale the firm and dramatically develop the brand.
Trey and his mother entered the Shark Tank seeking for $300,000 in return for a 10% stake in their firm, which was valued at $3 million.
He was a tyrant. He describes how he got started and how happy he is that he was able to retire his mother and hire her as his first employee. The Sharks all have samples, and Daymond remarks on their outstanding quality.
When asked about the price, Sherrill says the Leo Sweat suit is made for $21.50 and retails for $170. Sherrill stated that he used to go out on Saturdays and sell things until he ran out, which the Sharks liked.
His personal Instagram account has 89,000 followers, while the business account has 71,000. Sales in 2018 totaled $40,000, $170,000 in 2019, $745,000 in 2020, and they were completed in 2021. 939,000 dollars (during the pitch) estimates a $2.2 million profit for the year.
Their three storefronts and multiple pop-up businesses produced 70% of their sales. The remaining 30% of sales are made online.
Trey’s meeting with P Diddy was described in full by Sherell. A customer in a barbershop where Trey was working was so smitten with him that he gave him P Diddy’s phone number.
A year later, he received the $25,000 contribution from P Diddy. After paying themselves, they will make $313,000 on the $2.2 million in sales in 2021. They want to utilize the Shark funding to hire designers and digital marketers.
Lori realizes she isn’t the best match for them and leaves. Kevin admires Trey and his story, but he is not a clothes person; rather, he was a non-clothes person. Robert’s whole clothing business is run exclusively online. He’s not afraid of the 70% retail number.
Mark has indicated that he does not invest in clothing companies, but rather in rising talents. He offers $300,000 in return for 25% ownership of the company.
He asks Daymond if he wants to be a part of the arrangement, but Daymond rejects. Daymond then responds with $300,000 for a 25% stake in the company.
Trey responds with a 20% investment, which Daymond accepts. They left the pitch with a deal.
What Happened to SPERGO Clothing After Shark Tank?
In the five days after the first air date, the company processed over 1000 online orders. They receive between 40 and 60 online orders per week on average.
They plan to open a third physical site in Arlington, Virginia’s Pentagon City Mall in November 2021. Trey also hinted at the potential of creating his own footwear line.
Sales are expected to reach $2.5 million in 2021. The Daymond deal is now undergoing due diligence, and the business will remain functioning until January 2022.
Competitors of SPERGO Clothing
The SPERGO competes with RtA Clothing, Paper Street Clothing, Neoprene Clothes, MADE Clothing, and LRG.
Net Worth of SPERGO Clothing
During the pitch, the firm was valued at $3 million, and it was at $1.5 million thereafter, the company net worth might have been higher.
SPERGO Clothing FAQs
What exactly is SPERGO Clothing?
SPERGO is a lifestyle and fashion apparel business. SPERGO’s Streetwear and Sportswear collection includes hoodies, hats, socks, headbands, sweatshirts, and sweatpants.
Who is the originator?
Trey Brown is the brand’s originator and genius.
How much did they want for their Shark Tank pitch?
They were looking for $300,000 in return for a 10% stake in the company, which was worth $3 million.
Who won the deal with SPERGO Clothing?
Daymond put up $300,000 in return for a 20% share in the company.
Is SPERGO Clothing still in operation?
The firm is still operating in the same capacity as before the Shark Tank pitch.
Where can I find SPERGO Clothing?
SPERGO Clothing is headquartered in Philadelphia, Pennsylvania.
Who is the company’s CEO?
Trey Brown is the CEO of SPERGO Clothing.
What are SPERGO Clothing’s products?
Hoodies, hats, socks, headbands, sweatshirts, and sweatpants are among the many designs and things available in the apparel range.
How long do SPERGO Clothing items last?
An SPERGO Clothing product has an average lifespan of 1-2 years.
Is SPERGO Clothing available online?
The apparel company offers an online store that can be visited through the official website.
What exactly is the SPERGO Clothing website?
The website for SPERGO Clothing is www.SPERGO.com, and it offers all of the required information about the firm, its products, and its creator.
What are the SPERGO Clothing Sizes?
Small to triple x-large sizes are available.
Is it possible to get SPERGO Clothing online?
Customers may use their credit card to buy from their online store, and their product will be mailed directly to them.
How long will it take for my SPERGO Clothing purchase to be shipped?
Orders are sent within one to three business days.
What is the shipping policy for SPERGO Clothing?
Shipping rates range from $10 to $50 depending on location, however every delivery includes free shipping inside the continental United States.
Is it possible to return an item purchased from SPERGO Clothing?
Yes, buyers may return any item for a full refund within ten days after delivery. Custom-made products or those that have been worn, cleaned, or damaged in any manner are the sole exclusions.
Is SPERGO Clothing profitable?
The company has been in operation for three years, and its sales have gradually risen throughout that time.
What materials are used to produce SPREGO clothing?
They make use of a moisture-wicking, high-performance fabric.
Where is SPERGO Clothing manufactured?
SPERGO Clothing is produced in the United States.