DBG Announces Launch of AVO, A New Direct-To-Consumer Brand, After Successful Beta Test
September 04 2024 - 9:00AM
Digital Brands Group, Inc. (“DBG”) (NASDAQ: DBGI), a curated
collection of luxury lifestyle brands, today announces the launch
of AVO a new direct-to-consumer (DTC) brand (https://shopavo.la/).
As other premium brands have increased retail prices due to
inflation, the Company believes an opportunity has opened to
deliver premium apparel at lower prices by pursuing a DTC model
that also provides significant discounts for bundling multiple
products. This new model creates a value proposition in the premium
segment, similar to how fast fashion created a value proposition in
the mass market segment.
AVO was created to take advantage of this new
opportunity. This market opportunity sits between the price points
of fast fashion and other premium apparel. Our high-quality
garments are handmade in Los Angeles using premium fabrics and
quality craftsmanship, and then sold at price points that are
closer to fast fashion prices. In short, quality does not have to
be expensive.
AVO is a women’s apparel brand whose premise is
“You shouldn’t have to choose between affordability and quality,
and with AVO, you don’t”. AVO launched with premium fabric
t-shirts, and we plan to feature monthly product drops and expand
into additional top and bottom categories.
“Our beta test sell-through results, which
included selling in a retail store, suggests a very compelling
product market fit and strong customer excitement. We believe the
total addressable market of this opportunity is significant,
especially when you look at how other value driven brands have
performed,” said Hil Davis, Chief Executive Officer of Digital
Brands Group.
Forward-looking Statements
Certain statements included in this release are
"forward-looking statements" within the meaning of the federal
securities laws. Forward-looking statements are made based on our
expectations and beliefs concerning future events impacting DBG and
therefore involve several risks and uncertainties. You can identify
these statements by the fact that they use words such as “will,”
“anticipate,” “estimate,” “expect,” “should,” and “may” and other
words and terms of similar meaning or use of future dates, however,
the absence of these words or similar expressions does not mean
that a statement is not forward-looking. All statements regarding
DBG’s plans, objectives, projections and expectations relating to
DBG’s operations or financial performance, and assumptions related
thereto are forward-looking statements. We caution that
forward-looking statements are not guarantees and that actual
results could differ materially from those expressed or implied in
the forward-looking statements. DBG undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, except
as required by law. Potential risks and uncertainties that could
cause the actual results of operations or financial condition of
DBG to differ materially from those expressed or implied by
forward-looking statements include, but are not limited to: risks
arising from the widespread outbreak of an illness or any other
communicable disease, or any other public health crisis, including
the coronavirus (COVID-19) global pandemic; the level of consumer
demand for apparel and accessories; disruption to DBGs distribution
system; the financial strength of DBG’s customers; fluctuations in
the price, availability and quality of raw materials and contracted
products; disruption and volatility in the global capital and
credit markets; DBG’s response to changing fashion trends, evolving
consumer preferences and changing patterns of consumer behavior;
intense competition from online retailers; manufacturing and
product innovation; increasing pressure on margins; DBG’s ability
to implement its business strategy; DBG’s ability to grow its
wholesale and direct-to-consumer businesses; retail industry
changes and challenges; DBG’s and its vendors’ ability to maintain
the strength and security of information technology systems; the
risk that DBG’s facilities and systems and those of our third-party
service providers may be vulnerable to and unable to anticipate or
detect data security breaches and data or financial loss; DBG’s
ability to properly collect, use, manage and secure consumer and
employee data; stability of DBG’s manufacturing facilities and
foreign suppliers; continued use by DBG’s suppliers of ethical
business practices; DBG’s ability to accurately forecast demand for
products; continuity of members of DBG’s management; DBG’s ability
to protect trademarks and other intellectual property rights;
possible goodwill and other asset impairment; DBG’s ability to
execute and integrate acquisitions; changes in tax laws and
liabilities; legal, regulatory, political and economic risks;
adverse or unexpected weather conditions; DBG's indebtedness and
its ability to obtain financing on favorable terms, if needed,
could prevent DBG from fulfilling its financial obligations; and
climate change and increased focus on sustainability issues. More
information on potential factors that could affect DBG’s financial
results is included from time to time in DBG’s public reports filed
with the SEC, including DBG’s Annual Report on Form 10-K, and
Quarterly Reports on Form 10-Q, and Forms 8-K filed or furnished
with the SEC.
About Digital Brands Group
We offer a wide variety of apparel through
numerous brands on a both direct-to-consumer and wholesale basis.
We have created a business model derived from our founding as a
digitally native-first vertical brand. We focus on owning the
customer's "closet share" by leveraging their data and purchase
history to create personalized targeted content and looks for that
specific customer cohort.
Digital Brands Group, Inc. Company Contact
Hil Davis,
CEOEmail: invest@digitalbrandsgroup.co Phone: (800)
593-1047
SOURCE Digital Brands Group, Inc.
Related Links
https://ir.digitalbrandsgroup.co
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