Digital Brands Group (DBG) unveils an ambitious 2024 growth forecast, anticipating revenues soaring from $27 million to $30 million, signaling an impressive 70% to 90% increase compared to 2023.
DBG, based in Texas, projects first-quarter 2024 revenues at approximately $6 million, backed by confirmed wholesale bookings of $4.5 million. The company strategically leverages its shared services platform, anticipating increased wholesale bookings to drive substantial revenue growth.
For 2024, Digital Brands Group envisions an EBITDA ranging from $1.5 million to $2 million, emphasizing its commitment to sustained growth. The forecast also includes expectations of generating $6 million to $7 million in internal free cash flow throughout the year.
Hil Davis, CEO of Digital Brands Group, states, «We are excited to showcase our commitment to shareholder growth in 2024, exploring strategic alternatives to maximize shareholder value given our assets and operating forecast.»
As a «curated collection of luxury lifestyle, digital-first brands,» DBG, with acquisitions like Sundry and brands like Bailey 44 and Dstld, positions itself for substantial growth in the luxury lifestyle market.
