Digital Brands Group completes acquisition of Sundry
Digital Brands Group (DGB) Inc announced on Friday that it has completed its previously announced acquisition of Sundry.
The takeover announcement was first announced in January, 2022.
As a result of the transaction, Sundry, a global lifestyle apparel brand, has become a wholly owned subsidiary of DBG.
”The Sundry acquisition is expected to contribute significant revenue scale and operating leverage,” said 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.”
Founded in 2011 by Matthieu Leblan, Sundry is an omnichannel women’s lifestyle apparel brand that offers dresses, shirts, sweaters, skirts, shorts, athleisure bottoms and other accessories.
Texas-based DBG describes itself as a “curated collection of luxury lifestyle, digital-first brands.” It operates denim brand Dstld, as well as luxury performance suiting and sportswear brand Ace Studios.
