UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date
of report (Date of earliest event reported)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
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| Item 2.02 | Results of Operations and Financial Condition. |
Digital Brand Group, Inc.'s press release dated November 11, 2021, which reports its financial results for the nine months ended September 30, 2021, is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information furnished pursuant to Item 2.02, including Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise subject to the liabilities under such section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except to the extent specifically provided in such a filing.
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On November 8, 2021, Digital Brands Group, Inc. (the “Company”) appointed Lucy Doan to its Board of Directors (“Board”).
Ms. Doan will serve on the Audit Committee, the Nominating Committee, and the Compensation Committee of the Board.
In connection with her appointment to the Board, Ms. Doan was granted non-qualified stock options (“Options”) under the Company’s 2020 Omnibus Incentive Plan to purchase 20,000 shares of the common stock of the Company, in accordance with the terms and conditions of the award agreement to be entered into with Ms. Doan.
| Item 7.01 | Other Events. |
On November 11, 2021, Digital Brands Group, Inc. issued a press release announcing the appointment of Lucy Doan to its Board of Directors. A copy of the press release is furnished as Exhibit 99.2 to this Current Report on Form 8-K.
The information reported in this Item 7.01, including the press release attached as Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit No. | Exhibit |
| 99.1 | Press Release, dated November 11, 2021 |
| 99.2 | Press Release, November 11, 2021 |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| DIGITAL BRANDS GROUP, INC. | ||
| Date: November 12, 2021 | ||
| By: | /s/ John Hilburn Davis IV | |
| Name: | John Hilburn Davis IV | |
| Title: | President and Chief Executive Officer | |
Exhibit 99.1
Digital Brands Group to Report Third Quarter 2021 Financial Results on Thursday, November 11, 2021
AUSTIN, Texas, Nov. 11, 2021 /PRNewswire/ -- Digital Brands Group, Inc. ("DBG") (NASDAQ: DBGI), a curated collection of luxury lifestyle, digital-first brands, will report financial results for the third quarter ended September 30, 2021 on Thursday, November 11, 2021 at 5:30 p.m. ET.
Management will host a webcast on Friday, November 12 at 8:30 a.m. ET to discuss the results. The live conference call can be accessed by dialing (866) 605-1828 from the U.S. or internationally. The conference I.D. code is 13725121 or via the web by using the following link: https://tinyurl.com/efyarha2.
About Digital Brands Group
We offer a wide variety of apparel through numerous brands on a both direct-to-consumer and wholesale basis. We have created a business model derived from our founding as a digitally native-first vertical brand. Digital native first brands are brands founded as e-commerce driven businesses, where online sales constitute a meaningful percentage of net sales, although they often subsequently also expand into wholesale or direct retail channels. Unlike typical e-commerce brands, as a digitally native vertical brand we control our own distribution, sourcing products directly from our third-party manufacturers and selling directly to the end consumer. We focus on owning the customer's "closet share" by leveraging their data and purchase history to create personalized targeted content and looks for that specific customer cohort. We have strategically expanded into an omnichannel brand offering these styles and content not only on-line but at selected wholesale and retail storefronts. We believe this approach allows us opportunities to successfully drive Lifetime Value ("LTV") while increasing new customer growth.
Digital Brands Group, Inc. Company Contact:
Hil Davis, CEO
Email: [email protected]
Phone: (800) 593-1047
Exhibit 99.2
Digital Brands Group Appoints New Board Member
AUSTIN, Texas, Nov. 11, 2021 /PRNewswire/ -- Digital Brands Group, Inc. ("DBG" or the "Company") (NASDAQ: DBGI), a digitally first portfolio company, today announced Lucy Doan has been elected to the Digital Brands Group, Inc. Board of Directors. Doan brings 25 years of financial and strategic experience in the consumer industry, including several publicly traded companies. She currently serves on the Board of Directors of Grunt Style, an online apparel company.
"We are excited to add Ms. Doan to the Board of Directors as she provides significant accounting, finance and consumer strategic experience in both the direct to consumer and the wholesale channels. She understands that retail is changing and the winner in this new retail world must blend attributes of traditional retail with those of direct to consumer," said Hil Davis, DBG's Chief Executive Officer.
"I am excited and inspired to join the Board of Directors at such a momentous time. Retail is experiencing rapid and significant changes that is blending the direct and wholesale channels together in a new and unprecedented manner. I believe Digital Brands Group not only understands this transition that retail is undergoing, but also has a strong vision and grasp on how retail will evolve through this process. I look forward to supporting and shaping this organization and its teams," stated Ms. Dolan.
Digital Brands Group, Inc. Company Contact
Hil Davis, CEO
Email: [email protected]
Phone: (800) 593-1047