Digital Brands Group launches UK fundraising round through Crowdcube
LONDON: 20, November 2018: Digital Brands Group (the Group), a curated group of digital-first lifestyle brands, is undertaking its first ever round of fundraising amongst international investors through Crowdcube, a UK-based crowdfunding platform. The fundraising is aimed to secure additional funds to accelerate the Group’s continued expansion including plans to establish its flagship brand, DSTLD, in the UK market.
Digital Brands Group’s purpose is to develop and acquire like-minded and fast growing direct-to-consumer brands into one portfolio. The brands leverage shared resources that support and market their products, while maintaining and creating their own unique customer values and identities. This model helps to drive down fixed costs, fuel innovation, support the customer experience and ultimately drive down prices for consumers.
DSTLD (a vowel-less version of “distilled”) is a rapidly growing, LA-based premium denim brand, which has been worn by high-profile celebrities including Alessandra Ambrosio, Sofia Richie and Cara Delevingne. DSTLD designs and delivers premium denim and luxury essentials without retail mark-up thanks to its direct-to-consumer business model. Since its launch in 2014, DSTLD’s total revenue has recently surpassed $17 million as a result of its growing online presence and pop up showrooms. The brand has served more than 77k customers so far.
In addition to DSTLD, the Group is adding its second brand to the portfolio with the launch of ACE Studios, a luxury performance suiting and sportswear brand, in December. ACE will leverage Digital Brands Group’s CEO Hil Davis’s extensive experience which includes founding J. Hilburn, a bespoke tailored clothing brand, which he built to a $55 million company in just six years.
The Group has set ambitious targets for its first ever international fundraising via Crowdcube. The funds will support the Group in executing its build and buy strategy, with a plan to add further new fast growing, digitally-native lifestyle and fashion brands to its platform. All brands on the platform will have a digital-first focus in addition to an omni-channel customer experience, which will include showrooms, pop-ups and partnerships with retail brands and department stores.
Hil Davis, CEO of Digital Brands Group, commented:
“Our first international round of fundraising marks a very exciting milestone for Digital Brands Group as we continue to deliver our ambitious growth plans. We have seen first hand how powerful it can be to raise funds from those who wear, buy, and love our products. We are delighted to be launching funding in the UK as we look to expand our brands and product into new markets.
“The fundraising not only supports our long term brand awareness strategy here in the UK, with DSTLD due to land in the UK in 2019. It also provides the UK public and investors with an exciting opportunity to be part of our growth story from the ground up.
“The world of retail is moving more and more towards e-commerce led and direct-to-consumer models and we already have two very exciting brands in our portfolio. DSTLD is increasingly establishing itself as a disruptive, premium denim brand in the US market with widespread industry and celebrity endorsement.”
The Group will be hosting an investor webinar on the 6 December to discuss November’s trading figures, including sales from Black Friday and Cyber Monday, as well as information on the new supply chain and products. Please see click here for a link to register:
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