Digital Brands Group
Revolutionizing the holding company model. Portfolio of high-growth 'digital first' apparel brands.
Analytics
Raised to Date: $524,991
Aggregate Commitments $
Wefunder
11/11/2020
12/02/2020
$50,000
$760,250
$100
Convertible Note
RegCF
Series A
$52,841,157
30%
Weekly Commitments $
Active
11/25/2020
3
1,050%
69%
$37,499
328
Los Angeles, CA
Apparel & Fashion
Non-Tech
B2C
Medium
Low
Digital Brands Group, doing business as DSTLD, is raising funds on WeFunder. It is the holding company of four direct-to-consumer brands. The brands under Digital Brands Group include DSTLD, ACE Studios, Bailey 44, and Harper & Jones. The brands relate to luxury lifestyle and digital-first. Digital Brands Group was founded by Mark Lynn and others in 2013 and has raised over $15 million since its inception. The proceeds of the current round of crowdfunding, with a minimum raise of $50,000 and a maximum raise of $760,250, will be used for product and inventory, working capital, marketing, and acquisition and IPO fees. Digital Brands Group currently has 1.2 million customers for the four brands it owns and generated revenues of $33.5 million in 2019. The holding company plans to acquire four more brands, including Jack Georges and three that cannot be disclosed.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$3,034,216 |
$3,777,493 |
|
COGS |
$1,626,505 |
$1,656,332 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-5,653,973 |
$-4,725,533 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$40,469 |
$584,481 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$1,282,057 |
$2,244,929 |
|
Short-Term Debt |
$8,424,556 |
$5,971,106 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$8,424,556 |
$5,971,106 |
Summary of Crowdfunding Raises
| Close Date | Platform | Valuation/Cap | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 12/02/2020 | Wefunder | $52,841,157 | $524,991 | Convertible Note | Active | RegCF |
| 04/29/2020 | Wefunder | $52,800,000 | $303,708 | Equity - Preferred | Confirmed Closed | RegCF |
| 11/30/2019 | StartEngine | $35,000,000 | $5,128,496 | Equity - Preferred | Confirmed Closed | RegA+ |
| 08/10/2018 | StartEngine | $0 | $64,586 | Other Security Type | Confirmed Closed | RegCF |
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