Trey Brown Spergo Net Worth – SPERGO founder Trey Brown returned to FOX Business to give an update on the success of his clothing line, which Brown started when he was just 13.
“The business is off to a great start,” Brown said on Friday’s “Making Money with Charles Payne” on FOX Business. “I retired my mom when I was 13. I told my mom, like, ‘Mom, it’s time, we’re building an empire.’
Trey Brown Spergo Net Worth
In his previous interview with Charles Paine of FOX Business in 2019, Brown discussed using Instagram to expand his urban luxury active line and capture celebrity attention.
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Athletes and celebrities have highlighted SPERGO, including rapper Meek Mill, producer DJ Khaled and rapper Sean “Diddi” Combs.
SPERGO is a fashion brand designed to empower and inspire the youth of nearby Brown, Philadelphia. In a 2019 interview, Brown recalled the time when news of a 14-year-old’s arrest for the murder of a 13-year-old led him to create his clothing line to show young people an alternative to violence.
Brown started the fashion line in 2018 with $178 (his birthday money) and 16 shirts, selling them to his family and local barbershops. He would take the profits made from these sales and reinvest them in the small business.
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Brown is not just in the clothing industry anymore, he is becoming a business consultant who speaks to children around the world about entrepreneurship, as well as founding the non-profit Tree Cares. Trey Brown, 15, opened mall stores in the King of Prussia area of Washington, D.C., after launching his Spergo clothing line at barbershops in Philadelphia.
Trey Brown, center, with his mother, Sherrell Peterson, and grandfather, Stephen Hite, at Spergo clothing store in the King of Prussia Mall. Trey, a 15-year-old African American student, runs the Speargo clothing line and King of Prussia store. He appeared on Shark Tank. His mother is a former teacher in Philadelphia. Read more JOSÉ F. MORENO / Team Photographer
Top Young Bosses barber and hairdresser in North Philadelphia was one of Trey Brown’s first stops to sell lion shirts. Worried about the 12-year-old, store co-owner Nell Moore filmed him on her phone. “My name is Trey Brown. I started my own clothing line”, says the young man in the video. “The name of my clothing line is Spergo and Spergo is a catchy name that I came up with. I have a lion here because he is the king of the jungle and I am a kid .”
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Hip-hop-influenced streetwear is making a comeback, and Trey, now 15 and CEO of clothing brand Spergo, is making money. Spergo has opened two mall stores this year, including one in King of Prussia, runs an e-commerce site and closed a $300,000 investment deal in ABC’s Shark Tank in November. In the reality show, entrepreneurs present their ideas to a panel of famous investors.
Daymond John, founder of clothing company FUBU, agreed to invest the money in a 20% stake in the brand, valuing Spergo at $1.5 million. Trey said on the set of his episode that Spergo is on track to hit $2.2 million in sales this year.
Trey, who lived with his mother, Sherrell Peterson, and younger brother, Amir, in southwest Philadelphia when he founded the company three years ago, started with $178 in birthday money, hiring a custom clothing printing company based in in Philadelphia for his first T-shirt shop. Media companies rejoiced in the African-American teenager’s gripping story of the precocious entrepreneur – “don’t let anyone get hold of your talent or your mind. With a lion’s heart,” he says in the ad campaign.
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Peterson, who drove Trey around Philadelphia, pulling sweatshirts out of the trunk of his limo, describes Spergo’s clothing venture as something he took off. Trey researched clothing lines, plowed the profits back into the business, and built up his confidence. Sean “Diddy” Combs publicly endorsed it. Now, the mother-son duo – Trey is CEO and Peterson is COO – are faced with the daunting task of taking Spergo to the next level in the fashion-driven streetwear market.
“Since we’ve done so much on our own, we need a team, a solid team,” said Peterson, 38, who holds a BA in accounting from West Chester University and an MA in education from Eastern University. “So not only are you looking forward to getting a financial investment, but you’re also looking forward to partnering with people who already have systems in place and can connect you with people who can get you where you need to go.”
Peterson said Shark Tank funds could be used to hire a fashion designer and expand the brand globally.
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Trey’s next steps will be crucial, experts say. Spergo will need to expand its product line while maintaining enough inventory to deliver quickly to customers who don’t want to wait weeks for cool, luxurious clothing. Spergo’s colorful clothing line includes $80 hoodies, $98 hoodies, $90 pants, and $68 women’s dresses.
The two stores aren’t enough to justify the $1.5 million valuation, said Fred Hurwitz, a management professor at Penn State. “Then they will try to take this advice.” My biggest concern is that it’s a fashion item. What is the next generation of the clothing line?”
Sherry Lambert, professor of marketing at Temple University, said that Trey “hit the sweet spot. He has a rapper backing him and he’s on Instagram. increased, may have to be purchased.
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Michael Solomon, professor of marketing at St. Joseph’s University, said that Trey “got lucky, but you have to create your own luck”. The streetwear craze has been building for a while now and he entered that space at the best of times, particularly for a minority entrepreneur.”
Solomon added that with streetwear, “the brand is a story and it’s really useful when you don’t have to make it up.”
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FUBU, a popular clothing line from the 1990s, stands for “for us, by us” – a self-empowerment slogan for the black community. Trey came up with the name Spergo by combining the “sports” and “heroes” parts and finally nailed the “go” for the entrepreneur. Triple Play Sports, a custom canvas, digital printing and embroidery company in South Ninth Street, helped create the logo, based on Trey’s ideas, and produced the first jerseys, Peterson said.
“Everyone is starting a clothing line,” said Jeremy Guida, sales manager at Triple Play Sports. “We’re having fun with it.” Some people who come in have great ideas. It’s really how you sell yourself. We are happy to see your success.”
While Trey was selling T-shirts and hoodies in Philadelphia, VHII ran a story about him in December 2018. INVESCO, an Atlanta-based investment management firm, learned about Trey from a VHII article and featured him in a feature documentary. 2 and a half minutes appeared on CNN in order to enlighten early stage entrepreneurs and market one of their financial products. It was part of Invesco’s “Investing Together in Greater Opportunities” marketing campaign.
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In 2020, Combs announced with Ellen DeGeneres that he would give Trey a $25,000 Endowment for Entrepreneurs. Trey — who invested all of his profits into the business, Peterson said — considered putting the funds into pop-up stores in Texas, North Carolina and other states. But the pandemic destroyed that idea. Instead, Spergo set up shop in Brewerytown. “Philadelphia has given us a lot of love,” said Trey.
Spergo closed the Brewerytown store in September. Peterson said the building was sold. Ali Spergo opened stores in King of Prussia and Pentagon City Mall in Washington. Trey’s grandfather, Stephen Hite, helps out at the King of Prussia store. Peterson said Spergo is considering a store in Atlanta. They now live in Lansdowne.
Trey attends virtual home school, and although he’s almost 16, he’s still too young to get a driver’s license. During an interview at the Spergo store in the King of Prussia Mall, Trey said his initial idea was to get into as many Philadelphia barbershops as possible to sell his Spergo shirts. “We went to different places every time.” There are many barbershops in Philadelphia. They usually turn off the music just to hear me talk.”
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Top Young Bosses co-owner Moore said his barbers, stylists and clients were thrilled when Trey walked into his shop with his bag of T-shirts. Moore even started cutting Trey’s hair after meeting him. And Moore said he’ll see Trey out there, still for sale. “I was driving down the street and I saw him going into stores, and they weren’t even barbershops.”
Trey and his mom covered many, many miles in their black Kia Forte back then. “At the time, payments on the car went up,” Peterson said, “and so did the car.
Reporter since 1993, I have been reporting stories with an emphasis on entrepreneurship,
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