Digital Brands Group (DBG), a Texas-based company, has released its ambitious revenue projections for 2024. The company is expecting a significant growth rate of 70% to 90% compared to 2023, with anticipated revenues ranging from $27 million to $30 million. In the first quarter of 2024 alone, DBG predicts revenues of approximately $6 million, based on wholesale bookings of $4.5 million.

DBG also projects an EBITDA (earnings before interest, taxes, depreciation, and amortization) of $1.5 million to $2 million for the entire year of 2024. The company attributes this growth projection to its strategic use of shared services platform and the expectation of increased wholesale bookings.

Additionally, DBG expects to generate between $6 million to $7 million in internal free cash flow throughout 2024. Demonstrating a commitment to shareholder growth, the company is exploring strategic alternatives to maximize value. DBG is currently reviewing options to enhance shareholder value and is taking into consideration its assets and operating forecast relative to its public market value.

Hil Davis, CEO of DBG, expressed excitement about the company’s plans for 2024. He highlighted their commitment to shareholder growth and emphasized their exploration of various strategic alternatives to maximize value. Davis stated that they have several options to pursue in order to enhance shareholder value, especially if the current dislocation in the market remains.

DBG describes itself as a “curated collection of luxury lifestyle, digital-first brands.” In 2023, the company acquired Sundry and currently operates well-known brands such as Bailey 44, known for their contemporary womenswear, and Dstld, a popular denim brand.

With its optimistic revenue forecasts and strategic plans, Digital Brands Group is positioning itself for a successful 2024. As the company continues to expand its portfolio and explore opportunities to maximize shareholder value, the industry will be watching to see how DBG achieves its ambitious goals and solidifies its position in the digital-first luxury lifestyle market.

Useful links relevant to the article:

Digital Brands Group Official Website

Bailey 44 Official Website