Digital Brands Group Signs Letter of Intent to Open First Retail Store in March

January 17, 2024

https://www.prnewswire.com/news-releases/digital-brands-group-signs-letter-of-intent-to-open-first-retail-store-in-march-302034071.html

DBG forecasts the store to generate over $1.5 million in annual revenue and $500,000 in annual cash flow

AUSTIN, Texas, Jan. 16, 2024 /PRNewswire/ — Digital Brands Group, Inc. (“DBG”) (NASDAQ: DBGI), a curated collection of luxury lifestyle, digital-first brands, today announces that is has signed a Letter of Intent to open its first retail store in March. The Company forecasts the store to generate over $1.5 million in annual revenue and over $500,000 in annual cash flow based on the historical metrics and performance of this store, and excess Sundry inventory prior to the acquisition.

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