StageIPO | IPO
Date of IPO5/14/2021
About Digital Brands Group
Digital Brands Group (NASDAQ: DBGI) is a Los Angeles, California-based online apparel company that focuses on designing fairly priced, direct-to-consumer modern staples, such as jeans, tops, outerwear, and accessories in a fundamental color palette: black, white, and denim. The company's products are made with sustainable materials, natural dyes, and eco-friendly practices.
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Expert Collections containing Digital Brands Group
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Digital Brands Group is included in 3 Expert Collections, including Direct-To-Consumer Brands (Non-Food).
Direct-To-Consumer Brands (Non-Food)
Startups selling their own branded products directly to consumers through owned e-commerce channels, rather than relying on department stores or big online marketplaces.
Apparel & Accessories
Consumers are increasingly shopping online, making it the fastest growing channel across many sectors. This has led to the creation of online brands with limited or no physical retail presence. This collection include fashion startups with strong online component, including cloth
Latest Digital Brands Group News
May 24, 2023
US' Digital Brands Group's net revenues soar 48.4% in Q1 FY23 24 May '23 Insights US-based Digital Brands Group has reported net revenues of $5.1 million in Q1 FY23, an increase of 48.4 per cent, with gross margins increasing by 113.9 per cent to $2.4 million. Despite a rise in general and administrative and sales and marketing expenses, the company's operational loss narrowed to $3.6 million from $5.6 million YoY in Q1 FY23. Digital Brands Group, a curated collection of luxury lifestyle, digital-first brands, has reported a substantial 48.4 per cent increase in net revenues for the first quarter of the fiscal 2023 (Q1 FY23), rising from $3.4 million in the same period a year ago to $5.1 million. The company reported a gross margin growth of 113.9 per cent in Q1 FY23 compared to the same period last year. Rising from $1.1 million a year ago, gross margin reached $2.4 million in Q1 FY23. This leap can be largely attributed to the increase in gross profit margins, which significantly jumped from 33.2 per cent to 47.9 per cent year-on-year (YoY). US-based Digital Brands Group has reported net revenues of $5.1 million in Q1 FY23, an increase of 48.4 per cent, with gross margins increasing by 113.9 per cent to $2.4 million.Despite a rise in general and administrative and sales and marketing expenses, the company's operational loss narrowed to $3.6 million from $5.6 million YoY in Q1 FY23. In Q1 FY23, the firm saw a rise in general and administrative expenses by 8.4 per cent to $4.6 million compared to $4.3 million during the same quarter of the previous year. However, the general and administrative expenses as a percentage of revenue improved significantly, falling from 124.6 per cent a year ago to 91 per cent, the company said in a press release. Sales and marketing expenses also saw an uptick of 7.2 per cent in Q1 FY23, reaching $1.1 million compared to the $1.0 million reported a year ago. Despite this, the ratio of sales and marketing expenses to revenues improved, decreasing from 30.3 per cent to 21.9 per cent YoY. Hil Davis, chief executive officer of Digital Brands Group, said: "Our business is completely different now than it was in 2022. We lost a year due to the market decline in 2022, which delayed our acquisition of Sundry. We knew this acquisition was the critical step in our path to build a company with scale, positive EBITDA and positive cash flow. Now that the Sundry acquisition has closed, we are well on our way to achieving our initial goals." We are also excited for the forecasted monthly free cash flow that we will generate this fall associated with the transition to positive EBITDA coupled with the end of our MCA payments in early October. We should generate over $500,000 in free cash flow monthly starting after our last MCA payment." Digital Brands Group reported a decline in operational loss for the quarter. Compared to a loss of $5.6 million in the corresponding quarter a year ago, Q1 FY23 saw the loss from operations shrink to $3.6 million. Fibre2Fashion News Desk (DP)
Digital Brands Group Frequently Asked Questions (FAQ)
When was Digital Brands Group founded?
Digital Brands Group was founded in 2013.
Where is Digital Brands Group's headquarters?
Digital Brands Group's headquarters is located at 537 Broadway, Los Angeles.
What is Digital Brands Group's latest funding round?
Digital Brands Group's latest funding round is IPO.
How much did Digital Brands Group raise?
Digital Brands Group raised a total of $14.45M.
Who are the investors of Digital Brands Group?
Investors of Digital Brands Group include SeedInvest, Wavemaker Partners, Paige Craig, Baroda Ventures, Dennis Phelps and 9 more.
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