Digital Brands Group, Inc. (DBG) reported that it had completed the acquisition of the lifestyle apparel brand Sundry. As a result, Sundry is a wholly-owned subsidiary of DBG.
“The Sundry acquisition is expected to contribute significant revenue scale and operating leverage,” said Hil Davis, chief executive officer, DBG. “We believe adding Sundry to our Bailey Shop, which is our multi-brand e-commerce site, will contribute revenue immediately. Additionally, we are also excited about the large opportunity to expand the Sundry brand into other verticals. We believe that the opportunity to cross-merchandise Sundry and their customers to our other brands, add additional product categories and leverage synergies to reduce expenses will be accretive.”
