Digital Brands Group (DBG) has set the stage for an ambitious 2024 announcing anticipated revenues ranging from US $ 27 million to US $ 30 million, up 70 per cent to 90 per cent compared to 2023.
Revenues for the first quarter of 2024 are expected to be about US $ 6 million. This bullish prediction is based on US $ 4.5 million in confirmed wholesale reservations.
Additionally, the Texas-based business expects its EBITDA for 2024 to be between US $ 1.5 and US $ 2 million. DBG’s strategic use of its shared services platform and the expectation of higher wholesale bookings support this growth prediction.
Similarly, Digital Brands Group projects its internal free cash flow for 2024 to be between US $ 6 and US $ 7 million.
“We are excited to showcase our commitment to shareholder growth in 2024. As part of this commitment, we continue to review strategic alternatives, especially given our assets and operating forecast relative to our public market value,” said Hil Davis, chief executive officer.
DBG describes itself as a “curated collection of luxury lifestyle, digital-first brands.” Last year, it completed the acquisition of Sundry. It also operates contemporary womenswear brand Bailey 44, as well as denim brand Dstld, among others.
