Digital Brands Group Inc

Digital Brands Group, Inc. engages in the manufacture and sale of apparel. It operates through the following segments: DSTLD, Bailey, Harper & Jones, and Stateside. The DSTLD segment offers stylish high-quality garments without the luxury retail markup valuing customer experience over label. The Bailey segment combines beautiful, luxe fabrics, and on-trend designs to create sophisticated ready-to-wear capsules for women on-the-go. The Harper & Jones segment provides hand- crafted custom fit suits. The Stateside segment includes classic t-shirt offering. The company was founded by Corey Epstein, Mark T. Lynn, and Kevin Morris on September 17, 2012 and is headquartered in Austin, TX.

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Digital Brands Group Inc reports improved margins and strategic growth plans

Digital Brands Group Inc's Q1 2024 performance showcased improved gross margin profitability and effective cost management, despite revenue challenges from shipment delays.
The company's strategic focus on operational enhancements, expansion plans, and shareholder value optimization positions it for future growth and profitability.
While facing short-term revenue constraints and operational challenges, Digital Brands Group Inc remains optimistic about achieving positive net operating income and navigating market dynamics.

Digital Brands Group Inc reports revenue growth and cost efficiencies

DBGI's Q3 performance focused on revenue growth and cost management, with strategic partnerships driving improvements in digital revenues and operational efficiency.
While facing challenges in gross margins and net loss, the company's strengths lie in reducing expenses, clearing debt, and positioning for future growth opportunities.
Opportunities in expanding marketing channels and leveraging partnerships underscore DBGI's potential for sustained growth and profitability in the coming quarters.

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Digital Brands Group, Inc. engages in the manufacture and sale of apparel. Its portfolio brands include Bailey 44, DSTLD, Harper and Jones, Stateside, and Sundry. The company was founded by Corey Epstein, Mark T. Lynn, and Kevin Morris on September 17, 2012 and is headquartered in Austin, TX.

AUSTIN, Texas , Oct. 26, 2022 /PRNewswire/ -- Digital Brands Group, Inc. ("we", "us", "DBG"or the "Company")  (NASDAQ: DBGI), a curated collection of luxury lifestyle, digital-first brands, announced today, pursuant to the vote of its shareholders on October 13, 2022, a 1-for-100 (1:100) reverse split of its Common Stock. Beginning on November 4, 2022, the Company's stock will trade on the Nasdaq Capital Market on a split adjusted basis.

DBGI Announces 1-for-100 Reverse Stock Split Effective November 4, 2022

The stock price of Digital Brands Group (DBGI) fell by 26.27% in the most recent trading session. This is why.

Digital Brands Group (DBGI) Stock: Why It Dropped 26.27%

AUSTIN, Texas , Oct. 13, 2022 /PRNewswire/ -- Digital Brands Group, Inc. ("we", "us", "DBG"or the "Company") (NASDAQ: DBGI), a curated collection of luxury lifestyle, digital-first brands, today announces that the Company and Sunnyside, LLC ("Sundry") revised their previously disclosed definitive acquisition agreement to require less cash and equity to close the transaction. The Company believes the transaction should close in November.

DBGI Finalizes New Agreement for $20M revenue Sundry Acquisition Scheduled to Close in November

AUSTIN, Texas , Oct. 3, 2022 /PRNewswire/ -- Digital Brands Group, Inc. ("DBG")  (Nasdaq: DBGI), a curated collection of luxury lifestyle, digital-first brands, today announced that the Company has entered into a debt-for-equity exchange agreement with its senior lender, Black Oak Capital, to repay and retire approximately $6.25 million in principal debt of the Company. "This debt exchange puts DBG's balance sheet in a strong position to pursue acquisitions and growth.

DBGI Announces Debt-For-Equity Exchange with Its Senior Lender

Digital Brands Group, Inc. (NASDAQ:DBGI ) Q2 2022 Earnings Conference Call August 15, 2022 8:30 AM ET Company Participants Hil Davis - CEO Conference Call Participants Operator Greetings and welcome to Digital Brands Group, Inc. Second Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode.

Digital Brands Group's (DBGI) CEO Hil Davis on Q2 2022 Results - Earnings Call Transcript

AUSTIN, Texas , Aug. 15, 2022 /PRNewswire/ -- Digital Brands Group, Inc. ("DBG") (NASDAQ: DBGI), a curated collection of luxury lifestyle, digital-first brands, today reported financial results for its second quarter ended June 30, 2022.  Second Quarter 2022 Highlight Compared to Second Quarter 2021 Net revenues of $3.7 million, an increase of 273% or $2.7 million Gross profit margin of 58.1%, an increase of 450%, versus 39.3% Net loss per diluted share of $0.27 versus a net loss of $1.97 Net loss attributable to common stockholders was $9.5 million versus a net loss of $10.7 million The net loss included non-cash expenses associated with a change in the fair value of contingent liabilities of $5.9 million versus $3.1 million Net loss, excluding the non-cash expense associated with a change in the fair value of contingent liabilities, was $3.6 million versus $7.7 million Net loss per diluted share, excluding the non-cash expense associated with a change in the fair value of contingent liabilities, of $0.10 versus a net loss of $1.41 "We delivered strong top line results, which we expect to meaningfully accelerate in the second half of the year as we enter our peak selling period.

Digital Brands Group Reports Second Quarter 2022 Financial Results

AUSTIN, Texas , Aug. 11, 2022 /PRNewswire/ -- Digital Brands Group, Inc. ("DBG") (NASDAQ: DBGI), a curated collection of luxury lifestyle, digital-first brands, will report financial results for the second quarter ended June 30, 2022 on Monday, August 15, 2022 at 8:00 a.m. ET. Management will host a conference call on Monday, August 15 at 8:30 a.m.

Digital Brands Group to Report Second Quarter 2022 Financial Results on Monday, August 15, 2022

The modified agreement requires less cash and equity, and the Company has received several options for financing AUSTIN, Texas , June 21, 2022 /PRNewswire/ -- Digital Brands Group, Inc. ("we", "us", "DBG"or the "Company") (NASDAQ: DBGI), a curated collection of luxury lifestyle, digital-first brands, today announces that the Company and Sunnyside, LLC ("Sundry") revised their previously disclosed definitive acquisition agreement to require less cash and equity to close the transaction. Under the terms of the revised agreement, holders of Sundry membership interests will exchange all such interests for (i) $5.0 million in cash, (ii) $7.0 million paid in either cash or equity, at the option of the Sellers at the Issuance Price, and (iii) $20.0 million in equity valued at the Issuance Price.

DBGI Moves to the Final Stage of Closing the Sundry Acquisition with a Modified Agreement

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Digital Brands Group, Inc. (NASDAQ:DBGI ) Q1 2022 Earnings Conference Call May 16, 2022 5:30 PM ET Company Participants Hil Davis - President and Chief Executive Officer Conference Call Participants Operator Greetings, welcome to Digital Brands Group First Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode.

Digital Brands Group, Inc. (DBGI) CEO Hil Davis on Q1 2022 Results - Earnings Call Transcript

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AUSTIN, Texas , May 16, 2022 /PRNewswire/ -- Digital Brands Group, Inc. ("DBG")  (NASDAQ: DBGI), a curated collection of luxury lifestyle, digital-first brands, today reported financial results for its first quarter ended March 31, 2021.  First quarter 2022 net revenue was $3.4 million versus $0.4 million a year ago, an increase of 740% year over year.

Digital Brands Group Reports First Quarter 2022 Financial Results

AUSTIN, Texas , May 15, 2022 /PRNewswire/ -- Digital Brands Group, Inc. ("DBG")  (NASDAQ: DBGI), a curated collection of luxury lifestyle, digital-first brands, will report financial results for the first quarter ended March 31, 2022 on Monday, May 16, 2022 at 5:00 p.m. ET. Management will host a conference call on Monday, May 16 at 5:30 p.m.

Digital Brands Group to Report First Quarter 2022 Financial Results on Monday, May 16, 2022

AUSTIN, Texas , May 10, 2022 /PRNewswire/ -- Digital Brands Group, Inc., a Delaware corporation ("Digital Brands" or the "Company") (NASDAQ: DBGI), a curated collection of luxury lifestyle, digital-first brands, today announced the closing of its underwritten public offering of 37,389,800 shares of its common stock, $0.0001 par value per share, at a public offering price of $0.25 per share. In addition, the Company has granted the underwriters a 45-day option to purchase up to 5,608,470 additional shares of common stock at the public offering price per share, less underwriting discounts, and commissions, to cover over-allotments, if any.

Digital Brands Group, Inc. Announces Closing of $9,347,450 Underwritten Public Offering

AUSTIN, Texas , May 5, 2022 /PRNewswire/ -- Digital Brands Group, Inc. ("Digital Brands" or the "Company")  (NASDAQ: DBGI), a curated collection of luxury lifestyle, digital-first brands, today announced the pricing of its underwritten public offering of 37,389,800 shares of its common stock at a public offering price of $0.25 per share. In addition, the Company has granted the underwriters a 45-day option to purchase up to 5,400,000 additional shares of common stock at the public offering price per share, less underwriting discounts, and commissions, to cover over-allotments, if any.

Digital Brands Group, Inc. Announces Pricing of Underwritten Public Offering

Digital Brands Group's (DBGI) CEO Hil Davis on Q4 2021 Results - Earnings Call Transcript

AUSTIN, Texas , March 31, 2022 /PRNewswire/ -- Digital Brands Group, Inc. ("DBG")  (NASDAQ: DBGI), a curated collection of luxury lifestyle, digital-first brands, today reported financial results for its fourth quarter and 2021 fiscal year ended December 31, 2021.  Results for the Fourth Quarter Net revenues increased 425% to $4.0 million in the fourth quarter of 2021 compared to $0.8 million in the fourth quarter of 2020.

Digital Brands Group Reports Fourth Quarter and Fiscal Year 2021 Financial Results

AUSTIN, Texas , March 29, 2022 /PRNewswire/ -- Digital Brands Group, Inc. ("DBG")  (NASDAQ: DBGI), a curated collection of luxury lifestyle, digital-first brands, will report financial results for the fourth quarter and Fiscal 2021 results ended December 31, 2021 on Thursday, March 31, 2022 at 4:30 p.m. ET. Management will host a webcast on Thursday, March 31, 2022 at 5:00 p.m.

Digital Brands Group to Report Fourth Quarter and Fiscal 2022 Financial Results on Thursday, March 31, 2022

AUSTIN , March 7, 2022 /PRNewswire/ -- Digital Brands Group, Inc. ("DBGI")  (NASDAQ: DBGI), a curated collection of luxury lifestyle, digital-first brands, today announces that e-commerce revenue growth increased a record-setting 776% year-over-year for the months of January and February.  Hil Davis, Chief Executive Officer of Digital Brands Group, stated that "this e-commerce result is well above our plan, and illustrates the power of our portfolio model.

DBGI Announces Record 766% Increase in E-Commerce Revenues for January and February

Digital Brands Group Inc (NASDAQ: DBGI) has agreed to acquire Sundry, a privately-owned global lifestyle apparel brand.  Sundry is an omnichannel women's lifestyle apparel brand inspired by Mattieu Leblan's upbringing and ocean lifestyle.

Digital Brands Acquires Women's Lifestyle Apparel Brand Sundry

AUSTIN, Texas , Jan. 20, 2022 /PRNewswire/ -- Digital Brands Group, Inc. ("we", "us" or the "Company")  (NASDAQ: DBGI), a curated collection of luxury lifestyle, digital-first brands, today announces that it has signed a definitive merger agreement to acquire Sundry, a privately-owned global lifestyle apparel brand.  The transaction is expected to be completed late in the first half of 2022, subject to customary closing conditions and financing.

DBGI Announces Definitive Agreement to Acquire Sundry

AUSTIN, Texas, Jan. 7, 2022 /PRNewswire/ -- Digital Brands Group, Inc. ("DBGI")  (NASDAQ: DBGI), a curated collection of luxury lifestyle, digital-first brands, today announces that it is providing a fourth quarter and fiscal year 2021 net revenue update. Additionally, the company is reaffirming its previous 2022 net revenue and EBITDA guidance.

DBGI Provides Revenue, Bookings and Guidance Updates

AUSTIN, Texas, Dec. 9, 2021 /PRNewswire/ -- Digital Brands Group, Inc. ("DBGI")  (NASDAQ: DBGI), a curated collection of luxury lifestyle, digital-first brands, today announces that it is launching an exclusive branded offer on the Google Pay App; which was just recently relaunched with all new features just this past year. The Google Pay app is consistently leveraged by approximately 150,000,000 people every month across forty countries, and is evenly balanced between Women and Men mainly within the Gen Z and Millennial sector which comprises 18 to 34 year olds.

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