Welcome to our dedicated page for Digital Brands Group news (Ticker: DBGI), a resource for investors and traders seeking the latest updates and insights on Digital Brands Group stock.
Digital Brands Group, Inc. (NASDAQ: DBGI) generates news across eCommerce, fashion, collegiate apparel, and technology-enabled brand services. As a company that offers a wide variety of apparel through multiple brands on both a direct-to-consumer and wholesale basis, its updates often cover developments in lifestyle brands, campus programs, and digital commerce initiatives. The company also reports on its efforts to use customer data and purchase history to personalize apparel offerings and content for specific customer cohorts.
Recent announcements highlight Digital Brands Group’s expansion in the collegiate and name, image, and likeness (NIL) apparel space through its AVO brand, including capsule collections and game-day activations with organizations such as The Grove Collective and Yea Alabama. News items describe private label manufacturing agreements, playoff capsule launches, and campus events that support student-athlete funds, particularly initiatives directed to female student-athletes.
Digital Brands Group also issues news on its technology and AI partnerships. Releases have detailed collaborations with SECUR3D Inc. for AI-powered brand and intellectual property protection, including the deployment of the AssetSafe platform, and with Aha (formerly HeadAI) to automate influencer marketing campaigns across its consumer and collegiate segments. Additional coverage includes partnerships with brands such as Herschel Supply Co. for AI-driven brand protection.
Investors and followers of DBGI can use this news page to review company press releases on strategic agreements, marketing collaborations, financial results, and capital markets activity, including SEC registration statements and index inclusion. The feed provides context on how Digital Brands Group combines apparel, collegiate programs, and AI-enabled tools in its ongoing business activities.
Digital Brands Group, Inc. (NASDAQ: DBGI) has announced the anticipated closing of its acquisition of Sunnyside, LLC (Sundry) on December 9 or December 16, 2022. CEO Hil Davis stated that this acquisition is expected to provide significant revenue scale and operating leverage. The integration with DBG's e-commerce platform, Bailey Shop, aims to generate immediate revenue and presents opportunities for market expansion and cross-merchandising across brands.
Digital Brands Group, Inc. (NASDAQ: DBGI) announced the closure of its public offering of 1,818,181 shares at $5.50 each, alongside Class B and C Warrants. The gross proceeds reached approximately $10 million, intended for funding its Sundry acquisition, repaying promissory notes, and general corporate purposes. H.C. Wainwright & Co. served as the exclusive placement agent. This offering was made pursuant to SEC registration, with details available in the final prospectus.
Digital Brands Group (DBGI) announced a public offering of up to 168,000 shares at $5.50 each, plus warrants to purchase additional shares. The offering aims to raise approximately $10 million before expenses, with proceeds allocated for the Sundry acquisition, repaying notes, and other corporate purposes. Class B and Class C Warrants are also included, with respective exercise prices of $5.25. The offering is set to close around December 1, 2022, pending customary conditions.
Digital Brands Group (DBGI) reported a 58.3% increase in net revenues for Q3 2022, totaling $3.4 million, compared to $2.2 million a year prior. The company experienced a gross profit margin decline to 48.3% from 55.9% due to deferred revenue accounting and fabric costs. Despite a net loss of $4.9 million or $9.26 per diluted share, significant improvements included a reduction in general and administrative expenses and interest expense. The Bailey Shop launch showcased promising consumer trends, laying a foundation for future brand expansions.
Digital Brands Group, Inc. (NASDAQ: DBGI) will announce its third-quarter financial results for the period ending September 30, 2022, on November 14, 2022, at 5:30 p.m. ET. A conference call will follow at 6:00 a.m. ET on the same day to discuss these results. The company focuses on a digitally native business model that leverages customer data to personalize apparel offerings. Further details about the call can be accessed through their website.
Digital Brands Group, Inc. (NASDAQ: DBGI) reported a significant 462% increase in e-commerce revenue following the launch of its new multi-brand website on October 23, 2022. The platform showcases products from its women's brands, including Bailey 44, Stateside, and dstld, enabling customers to shop across multiple brands seamlessly. Key performance metrics include a 36.5% increase in average order value, reaching $280 per order, and an absence of revenue declines from dedicated brand websites. The company plans to expand its brand portfolio, enhancing consumer engagement and profitability.
Digital Brands Group (NASDAQ: DBGI) announced a 1-for-100 reverse stock split effective November 4, 2022. This decision follows a shareholder vote on October 13, 2022. Post-split, the company's stock will trade on a split-adjusted basis on the Nasdaq Capital Market. Further details can be found in the definitive proxy statement filed with the SEC on September 14, 2022. The Company focuses on digital-first luxury lifestyle brands and aims to enhance customer engagement through personalized marketing strategies.
Digital Brands Group (NASDAQ: DBGI) has revised its acquisition agreement with Sunnyside, LLC (Sundry) to reduce cash and equity requirements for closure, expected in November. The acquisition is significant, with Sundry having generated $22.8 million in revenue in 2021, and it's projected to be immediately accretive to EBITDA. The revised deal includes $7.5 million in cash, $1 million in equity, and $5.5 million in debt for Sundry's members. This strategic move aims to enhance DBG's revenue scale and cash flow.
Digital Brands Group, Inc. (Nasdaq: DBGI) announced a debt-for-equity exchange with Black Oak Capital to retire approximately $6.25 million in principal debt. This move strengthens DBG's balance sheet, enhancing its potential for acquisitions and growth. Black Oak Capital will serve as a long-term shareholder, with terms limiting monthly conversions to $500,000 or 10% of trading volume. Executive statements highlight optimism for future shareholder value and operational flexibility, alongside a caution regarding forward-looking statements.
Digital Brands Group (DBGI) reported Q2 2022 net revenues of $3.7 million, up 273% year-over-year, with a gross profit margin of 58.1%, marking a 450% increase. The net loss attributed to common stockholders was $9.5 million, down from $10.7 million YOY. Excluding non-cash changes, net loss was $3.6 million. The company anticipates continued growth, especially as they enter their peak selling period, and expect EBITDA to be flat to negative $500,000 for the latter half of 2022.
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