Business
DBGI Announces State of the Union Investor Call Post The Sundry Acquisition
AUSTIN, Texas, March 2, 2023 /PRNewswire/ -- Digital Brands Group, Inc. ("we", "us", "DBG"or the "Company") (NASDAQ: DBGI), a curated collection of luxury
About this update from Digital Brands Group, Inc.
[{"type":"text","content":"AUSTIN, Texas, March 2, 2023 /PRNewswire/ -- Digital Brands Group, Inc. (\"we\", \"us\", \"DBG\"or the \"Company\") (NASDAQ: DBGI), a curated collection of luxury lifestyle, digital-first brands, announced today that it will host a conference call on Tuesday, March 7 at 10:00 a.m. ET to discuss the State of the Union post our Sundry Acquisition.\nThe live conference call can be accessed by dialing (866) 605-1828 from the U.S. or internationally. The conference I.D. code is 13736884 or via the web by using the following link: https://bit.ly/3mlPrve. \nThe conference call will cover the following topics:\nAn update on the Sundry integration;The strategic repositioning of Sundry and the positive wholesale response to this repositioning; Strategic changes to e-commerce and the positive initial results driven by this data first approach;Strategic initiatives launching from April through September, including a membership program, a licensing deal with a major retailer, and a direct sales affiliate program, and An update on how we plan to achieve positive ebitda starting in July and going forward.About Digital Brands Group We offer a wide variety of apparel through numerous brands on a both direct-to-consumer and wholesale basis. We have created a business model derived from our founding as a digitally native-first vertical brand. Digital native first brands are brands founded as e-commerce driven businesses, where online sales constitute a meaningful percentage of net sales, although they often subsequently also expand into wholesale or direct retail channels., Unlike typical e-commerce brands, as a digitally native vertical brand we control our own distribution, sourcing products directly from our third-party manufacturers and selling directly to the end consumer. We focus on owning the customer's \"closet share\" by leveraging their data and purchase history to create personalized targeted content and looks for that specific customer cohort. We have strategically expanded into an omnichannel brand offering these styles and content not only on-line but at selected wholesale and retail storefronts. We believe this approach allows us opportunities to successfully drive Lifetime Value (\"LTV\") while increasing new customer growth. \nForward-looking Statements\nCertain statements included in this release are \"forward-looking statements...