Digital Brands Group

Revolutionizing the holding company model. Portfolio of high-growth 'digital first' apparel brands.

Analytics

Raised to Date: $741,974

Aggregate Commitments $
Platform

Wefunder

Start Date

11/11/2020

Close Date

12/21/2020

Min. Goal

$50,000

Max. Goal

$760,250

Min. Investment

$100

Security Type

Convertible Note

Funding Type

RegCF

Series

Series A

Valuation Cap

$52,841,157

Discount Rate

30%

Rolling Commitments $
Status
Funded
Reporting Date

12/31/2020

Days Remaining
Funded
% of Min. Goal

1,484%

% of Max. Goal

98%

Likelihood of Max
Funded
Avg. Daily Raise

$18,549

# of Investors

494

Momentum
Funded
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Location

Los Angeles, California

Industry

Apparel & Fashion

Tech Sector

Non-Tech

Distribution Model

B2C

Margin

Medium

Capital Intensity

Low

Business Type

High Growth

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

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Summary of Crowdfunding Raises
Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
12/21/2020 Wefunder $52,841,157 $741,974 Convertible Note Confirmed Closed 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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