Digital Brands to open 50 retail stores over next several years

Digital Brands Group announces that it plans to open 50 retail stores over the next several years, which will be funded by its internal free cash flow. DBG has been reviewing store locations and leases with several large-scale retail developers. DBG believes retail stores will drive significant brand awareness, lower cost customer acquisition and higher average basket size and customer retention. Based on the store metrics in these developments, DBG forecasts the stores to generate over $1.5M annually per store with positive store level cash flow. Based on the 50 store openings, DBG forecasts the fleet of stores should generate over $75M annually in revenues and meaningful store level cash flow.