Digital Brands Group Inc., a collection of lifestyle brands offering apparel on a direct-to-consumer and wholesale basis, has purchased Sundry Clothing.
Sundry Clothing is an online shop that sells coastal casual clothing. As a result of the transaction, Sundry has become a wholly-owned subsidiary of DBG.
“The Sundry acquisition is expected to contribute significant revenue scale and operating leverage,” says Hil Davis, chief executive officer of 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.”