DBG Announces its First Acquisition
Digital Brands Group Announces Acquisition of Bailey 44
Digital Brands Group (DBG) is pleased to announce that it has completed its first acquisition, which is Bailey 44. Bailey 44 is a Women’s contemporary brand sold in specialty retail, major department stores and online. They also own sister brand Ali & Jay, a millennial contemporary brand sold primarily at department stores and online.
DBG is revolutionizing the corporate holding company for direct to consumer and wholesale apparel brands by focusing on a customer’s "closet share" and leveraging their data to create targeted and personalized content. The group’s value proposition is completely driven by the consumer and approaching them with complete looks determined by their style preferences across multiple brands and categories.
“Today marks a new path forward for us,” stated David Lazar, Bailey 44’s Chief Executive Officer. “We have moved from being two single brands, to now being the first brands under the DBG umbrella. This will enable us to leverage the shared marketing services and databases exposing us to new customers as well as more importantly showcasing all of the different styling options that will be seen through the newly created cross-merchandised content. An example of this is one of our Bailey 44 tops paired with DSTLD denim.”
Greg Seare of Black Oak Capital, a lead investor in Digital Brands Group, added “Given the financial and industry challenges traditional and DTC retail is facing, the holding company model DBG has developed is the first of its kind, and one that we believe will create tremendous value for customers and shareholders. We continue to invest in the company business model as well as its impressive, and growing, leadership team, and are excited for what’s ahead.”
“The future of retail is evolving daily which is why we are seeing such drastic changes going on in the market as we all strive together to establish the “new shopping normal.” However, even though the “what, where, why and how have changed in this proposition the “who” which is the customer still remains to be the absolute constant. That is why our entire portfolio strategy is built around their mind-set and actual purchasing habits versus the traditional marketing archetype and that is how our approach cuts through since it is completely audience-driven.” stated Digital Brand’s Group Chief Marketing Officer, Laura Dowling.
DBG continues to expand upon its vision for a modern holding company. Over the next four to eight weeks they expect to finalize additional apparel brand acquisitions to strengthen their portfolio. Not only expanding their brand ownership but also diversifying their customer base allowing for deeper and more meaningful cross marketing opportunities, smarter data targeting and unique custom content building. They are excited to pioneer the path forward in this space.