The shares of Digital Brands Group Inc. (DBGI) are up 54.06% at $4.67 at the start of the regular session on Thursday. DBGI stock finished last trading session at $3.03. Trading volume for DBGI stock was 32.5M shares, which is much higher than the average daily trading volume 2.32M shares for the past 50 days. In the last five days, shares of DBGI have fallen -2.57%; however, they have lost -13.92% in the last month. This year, DBGI has lost -10.88 percent so far and has shed -41.39% over the past three months. DBGI’s stock has risen since it launched on Amazon Prime.
DBGI has shared what?
In addition to direct-to-consumer sales, Digital Brands offers wholesale products through numerous brands. DBGI is a digitally native brand that was founded as a vertical brand in the digital space. First-generation digital brands are e-commerce-driven companies, with a significant proportion of sales originating online, although their sales are subsequently also propagated through wholesale or direct retail channels. Digitally native vertical brands control their own distribution, sourcing products directly from third-party manufacturers and selling directly to the end consumer, as opposed to typical e-commerce brands.
Today, Digital Brands launched its affiliate program across all its brands, as well as DSTLD on Amazon Prime. As of today, DSTLD’s product will be available on Amazon Prime. This marks the end of the “on-boarding” phase.
- In the short and long run, DBGI believes that complying with Amazon’s Prime requirements will result in high short- and long-term value vis-à-vis simply selling on Amazon’s site as a third party.
- On top of that, DSTLD’s branded content and own videos will be available in DSTLD’s Brand Store on Amazon within the next few days.
- Statistics from statista.com and eMarketer show that 63 percent of online shoppers begin their product search on Amazon, which DBGI believes will increase brand awareness and customer acquisition.
- A new affiliate program is also being launched by DBGI across all of its brands.
- The affiliate programs are the first of their brands to launch affiliate programs.
- Through its affiliate programs, DSLTD has historically generated substantial revenues and customer acquisitions.
DBGI will grow because of this, how?
In Q4 of 2021 and 2022, Digital Brands Group Inc. (DBGI) is excited to move into its growth phase, and believes these programs will demonstrate the strength of its platform and the growth potential. As DBGI continues to grow through acquisitions, we expect to continue to add new companies this year, with most of these requiring PCAOB audits in accordance with GAAP. Consequently, the acquisition timeframe will be pushed towards the end of 2021 because these audits take time.