Digital Brands Group To Open First Retail Store In First Half Of April In Dallas, Texas; Store Forecasted To Generate Over $1.5M In Annual Revenue And $500,000 In Annual Cash Flow
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Digital Brands Group, Inc. (DBGI) announced plans to open its first retail store in Dallas, Texas, in the first half of April. The store, located at the Simon Premium Outlet Mall in Allen, is forecasted to generate over $1.5 million in annual revenue and $500,000 in annual cash flow. This move is part of DBG's strategy to clear excess inventory, particularly from its Sundry acquisition, at higher margins than selling into the off-price channel. DBG's CEO, Hil Davis, highlighted the importance of retail stores in the company's growth strategy alongside wholesale and e-commerce.
February 27, 2024 | 1:48 pm
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Digital Brands Group, Inc. (DBGI) is set to open its first retail store in Dallas, Texas, with expectations of generating over $1.5 million in annual revenue and $500,000 in annual cash flow.
Opening a retail store represents a significant step in DBG's growth strategy, aiming to enhance brand visibility and sales. The forecasted revenue and cash flow indicate a positive outlook for the store's financial performance. The strategic use of excess inventory from the Sundry acquisition to achieve higher margins could improve DBG's overall profitability. However, the actual impact on the stock price will depend on the store's performance and its contribution to DBG's total revenue and profitability.
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