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DBGI Completes Acquisition of Sundry

Retrieved on: 
Friday, December 30, 2022
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AUSTIN, Texas, Dec. 30, 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 it has completed its previously announced acquisition of Sundry.

Key Points: 
  • AUSTIN, Texas, Dec. 30, 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 it has completed its previously announced acquisition of Sundry.
  • "The Sundry acquisition is expected to contribute significant revenue scale and operating leverage," said Hil Davis, Chief Executive Officer of DBG.
  • "We believe adding Sundry to our Bailey Shop, which is our multi-brand e-commerce site ( www.bailey44.com ) will contribute revenue immediately.
  • Additionally, we are also excited about the large opportunity to expand the Sundry brand into other verticals.

DBGI Experiences 436% Increase in Revenue over the Black Friday/Cyber Monday Promotion Period

Retrieved on: 
Wednesday, December 7, 2022
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The site (www.bailey44.com) offers products across DBG's women's brands --Bailey 44, Stateside, and dstld – providing our customers a single destination through which they can purchase our women's products, rather than having to shop each brand's dedicated websites separately.

Key Points: 
  • Hil Davis, DBG's Chief Executive Officer, stated "We continue to see how this multi-brand website is driving new and repeat customers who are buying products across all our brands.
  • We believe this could also work in different formats, such as retail stores and catalogs.
  • We offer a wide variety of apparel through numerous brands on a both direct-to-consumer and wholesale basis.
  • Forward-looking statements are made based on our expectations and beliefs concerning future events impacting DBG and therefore involve several risks and uncertainties.

DBGI Expects Closing of Sundry Acquisition In Next Two Weeks

Retrieved on: 
Friday, December 2, 2022
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"The Sundry acquisition is expected to contribute significant revenue scale and operating leverage," said Hil Davis, Chief Executive Officer of DBG.

Key Points: 
  • "The Sundry acquisition is expected to contribute significant revenue scale and operating leverage," said Hil Davis, Chief Executive Officer of DBG.
  • "We believe adding Sundry to our Bailey Shop, which is our multi-brand e-commerce site( www.bailey44.com )will contribute revenueimmediately.
  • We offer a wide variety of apparel through numerous brands on a both direct-to-consumer and wholesale basis.
  • Certain statements included in this release are "forward-looking statements" within the meaning of the federal securities laws, including statements regarding the acquisition and the ability to meet the closing conditions required to complete the acquisition.

Digital Brands Group Reports Third Quarter 2022 Financial Results with a 58% Increase in Revenues

Retrieved on: 
Monday, November 14, 2022
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AUSTIN, Texas, Nov. 14, 2022 /PRNewswire/ -- Digital Brands Group, Inc. ("DBG") (NASDAQ: DBGI),a curated collection of luxury lifestyle, digital-first brands, today reported financial results for its third quarter ended September 30, 2022.

Key Points: 
  • AUSTIN, Texas, Nov. 14, 2022 /PRNewswire/ -- Digital Brands Group, Inc. ("DBG") (NASDAQ: DBGI),a curated collection of luxury lifestyle, digital-first brands, today reported financial results for its third quarter ended September 30, 2022.
  • "Additionally, we launched the Bailey shop in October, which is a single e-commerce destination that features all our brands.
  • Net Sales were $3.4 million versus $2.2 million in the year ago quarter, an increase of 58.3% year over year.
  • We slowed our digital advertising spend in the third quarter in advance of our Bailey Shop rollout in October.

DBGI Launches Multi-Brand Website, Experiences 462% Increase in E-commerce Revenue

Retrieved on: 
Monday, October 31, 2022
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The site (www.bailey44.com) offers products across DBG's women's brands --Bailey 44, Stateside, and dstld – providing our customers a single destination through which they can purchase our women's products, rather than having to shop each brand's dedicated websites separately.

Key Points: 
  • We are extremely excited to see that customers were building outfits and styles using products from multiple brands in their orders.
  • Dowling added, "By focusing our advertising dollars on the new multi-brand site and slowing spend on the dedicated brand websites, we've been able to reduce our total advertising spend.
  • This allows us to drive higher return on our advertising dollars while increasing both our revenues and customer lifetime value."
  • We offer a wide variety of apparel through numerous brands on a both direct-to-consumer and wholesale basis.

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

Retrieved on: 
Wednesday, October 26, 2022
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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.

Key Points: 
  • 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.
  • Additional information about the reverse stock split can be found in the Company's definitive proxy statement filed with the Securities and Exchange Commission on September 14, 2022, a copy of which is also available on the Company's Investor Relations page.
  • About Digital Brands GroupWe offer a wide variety of apparel through numerous brands on a both direct-to-consumer and wholesale basis.

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

Retrieved on: 
Thursday, October 13, 2022
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Sundry generated $22.8 million in revenue in 2021; and

Key Points: 
  • Sundry generated $22.8 million in revenue in 2021; and
    The acquisition is expected to be accretive to EBITDA immediately upon completion.
  • "We are excited about the significant revenue scale and positive cash flow that we will achieve between combining with the Sundry's acquisition," said Hil Davis, Chief Executive Officer of DBG.
  • Please refer to the Company's Current Report on Form 8-K as filed with the Securities and Exchange Commission to review the details and specifics of the acquisition agreement.
  • We offer a wide variety of apparel through numerous brands on a both direct-to-consumer and wholesale basis.

Digital Brands Group Reports Second Quarter 2022 Financial Results

Retrieved on: 
Monday, August 15, 2022
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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.

Key Points: 
  • 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.
  • In addition, our gross margin of 58% expanded significantly both sequentially and year-over-year, which we also expect to continue throughout the second half of the year,"said Hil Davis, Chief Executive Officer of Digital Brands Group.
  • Net Sales were $3.7 million versus $1.0 million in the year ago quarter, an increase of 273% year over year.
  • Our second quarter is our lowest wholesale revenue quarter across all our wholesale brands as these brands only ship two of the three months due to lower wholesale demand during this period.

Digital Brands Group Reports First Quarter 2022 Financial Results

Retrieved on: 
Monday, May 16, 2022
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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.

Key Points: 
  • 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.
  • "Our first quarter 2022 results reflect another quarter of meaningful improvement in our business results,"said Hil Davis, Chief Executive Officer of Digital Brands Group.
  • Net Sales were $3.4 million versus $0.4 million in the year ago quarter, an increase of 740% year over year.

NeoGames Announces First Quarter 2022 Results

Retrieved on: 
Wednesday, May 11, 2022
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LUXEMBOURG , May 11, 2022 (GLOBE NEWSWIRE) -- NeoGames S.A. (Nasdaq: NGMS) (“NeoGames” or the "Company"), a technology-driven provider of end-to-end iLottery solutions, announced today financial results for the first quarter ended March 31, 2022.

Key Points: 
  • First Quarter Revenues and Share of NPI Revenues Interest total a record $22.4 million, up 3.8% year-over-year
    LUXEMBOURG , May 11, 2022 (GLOBE NEWSWIRE) -- NeoGames S.A. (Nasdaq: NGMS) (NeoGames or the "Company"), a technology-driven provider of end-to-end iLottery solutions, announced today financial results for the first quarter ended March 31, 2022.
  • Revenues were $13.2 million during the first quarter of 2022, compared to $13.3 million during the first quarter of 2021, representing a decrease of 0.7% year-over-year.
  • Adjusted EBITDA1 was $8.5 million during the first quarter of 2022, compared to $9.7 million during the first quarter of 2021 representing a decrease of 12.0% year-over-year.
  • NeoGames will host a live conference call and audio webcast on Thursday, May 12, 2022 at 8:30 a.m. Eastern Time, during which management will discuss the Companys first quarter results and provide commentary on business performance.