Spergo Shark Tank Update: Up to 2023 & Beyond
Spergo is a luxury streetwear and lifestyle brand founded by Trey Brown, a 15-year-old entrepreneur from Philadelphia, US. On Shark Tank in November of 2021, mother and son duo Trey Brown and Sherell Peterson pitched their business idea. But what’s the Spergo Shark Tank update now?
Well, since then, Spergo has increased its sales from $745,000 in 2020 to $2.2 million in 2021 and $3 million in 2022. Also, it has received a $200,000 grant from the Philadelphia 76ers. In essence, Spergo has grown its sales, exposure, and partnerships and has become a global brand.
Want to know more about the Spergo update? See below!
Spergo Shark Tank Profile
Here are the key insights of Spergo:
| Company Name | Spergo |
| Founder | Trey Brown |
| Founded | In 2018 |
| Product | Unisex luxury designer clothing line |
| Requested for | USD 300,000 with 10% equity |
| Closing agreement | USD 300,000 with 20% equity |
| Shark who took the deal | Daymond John |
| Spergo Shark Tank Episode | Season 13, Episode 5 |
| Airing Time of Year | November 5, 2021 |
| Business Situation as of 2023 | Ongoing and growing |
| Website | www.spergo.com |
| Headquarters | Philadelphia, Pennsylvania, United States |
| Lifetime Worth (Sales) | $6.5 million (estimated) |
| Watch On | Amazon Prime |
How Was Spergo On Shark Tank?
In Shark Tank, Trey Brown and Sherell Peterson presented their brand to the Sharks: Mark Cuban, Lori Greiner, Kevin O’Leary, Robert Herjavec, and Daymond John.
They explained that Spergo stands for “Sports Heroes Go-getters,” and their mission is to empower people to achieve their goals and overcome obstacles. Trey and his mother, Sherell, pitched to the Sharks, asking for 300,000 USD in return for 10% of their company. This had $2.2 million in projected sales for 2021.
They showed their products and a video of Trey receiving a grant from Sean “Diddy” Combs. Three Sharks dropped out, while Mark Cuban and Daymond John offered $300,000 for 25%.
Trey then negotiated with Daymond and got him to lower his stake to 20%. He accepted Daymond’s offer and rejected Mark’s. Trey hugged and thanked Daymond.
Spergo Shark Tank Update: What Happened To Spergo After Shark Tank?
After appearing on the show, Spergo received a lot of positive feedback and support from customers and fans. It happened to such an extent that the company’s website crashed due to high traffic and orders.
Trey said that they received over 1,000 orders within a week of the episode airing. Spergo additionally got another significant boost from the Philadelphia 76ers NBA team. The team awarded Trey a 200,000 USD endowment grant as part of their Buy Black Program, which supports Black-owned businesses in Philadelphia.
The NBA team also featured Spergo’s products on their website and social media platforms. They also invited Trey to attend one of their games and meet some of the players.
After the Shark Tank, Trey says that he is grateful for the opportunity to work with Daymond John and learn from his mentorship. He says that Daymond is helping him with branding, marketing, distribution, and scaling strategies.
He also says that Daymond is connecting him with other influential people in the industry. One such example is the connection with Steve Madden, the founder of the Steve Madden shoe company.
As told by Trey himself, he is now showing youngsters that anything is possible with hard work and dedication.
He says he’s now working to give back to his community by supporting youth education, anti-violence, and mental health.
Spergo Net Worth Now
According to the deal that Trey and Sherell made with Daymond John on Shark Tank, Spergo was valued at $1.5 million in 2021. This means that Daymond’s 20% equity stake was worth $300,000, and Trey and Sherell’s 80% equity stake was worth $1.2 million in 2021.
However, since then, Spergo’s net worth has likely increased due to the growth in sales, exposure, and partnerships that the company has achieved. Based on the estimated sales data for 2021 and 2022, Spergo’s net worth now could be around $3.65 million as of 2023.
Spergo Sales Data
Here is a table that shows the (estimated) sales data for Spergo from 2018 to 2023:
| Year | Sales |
|---|---|
| 2018 | $40,000 |
| 2019 | $130,000 |
| 2020 | $745,000 |
| 2021 | $2.2 million |
| 2022 | $3 million |
| 2023 | $5.54 million (estimated) |
Note:
- The sales data for 2018 to 2020 are based on the information that Trey and Sherell provided on Shark Tank.
- The sales data for 2021 are based on the projection that Trey gave on Shark Tank.
- The sales data for 2022 are based on a conservative estimate of a 36% (average) growth rate from 2021.
Is Spergo Profitable Now?
Spergo is most likely profitable now, based on the sales data and the cost structure of the company.
Trey and Sherell said on Shark Tank that their products have a high-profit margin of around 70%. This means that they make about $70 in profit for every $100 in sales.
Assuming that their profit margin has remained consistent, Spergo would have made about $1.54 million in profit in 2021 and would make about $2.1 million in profit in 2022.
The company does not have any debt or inventory issues. As Trey and Sherell said, they do not use loans or credit cards to finance their business. And they also produce their products on demand.
Therefore, Spergo is most likely profitable now and will continue to be profitable in the future.
Spergo Future Plans
Spergo has several goals and plans to achieve in the future. For example:
- To become a global brand that reaches millions of customers around the world.
- To expand its product line to include more categories, such as shoes, bags, jewelry, etc.
- To collaborate with other brands and celebrities to create exclusive collections and campaigns.
- To become a billionaire by age 21.
Conclusion
Simply put, after Shark Tank, Spergo has now skyrocketed its business, customer outreach, brand value, and collaborations. Needless to say, it has become a global brand for sure.
Spergo today is an inspiring example of how a young entrepreneur can turn his passion into a successful business. It is now more than just a clothing brand. It is a lifestyle that celebrates sports heroes and go-getters.
