LA's Digital Brands Group seeks listing on London's AIM
Digital Brands Group, the Los Angeles-based direct-to-consumer, digital first brand house, is seeking a listing on London's junior stock market AIM in the first half of this year.
The group, which is currently crowdfunding on Crowdcube, is the parent of premium denim brand DSTLD, which is set to launch in the UK early in 2019.
Digital Brands Group has so far raised £5.8m from US investors and its Crowdcube campaign, launched at the end of last year, has raised around £1.6m with 15 days yet to run. The money raised will be used to launch DSTLD (a contraction of the word "distilled") in the UK with a further brand, a luxury sportswear label called Ace Studios, set to follow.
According to The Telegraph, Digital Brands Group, will be valued at £27m when it launches on AIM and its chief executive Hill Davis told the newspaper that the group had elected to float in London as it believes that its US revenues will provide an attractive currency hedge for investors.
"[...] despite the macro-economic uncertainties in the UK market, particularly in the retail sector, we see tremendous opportunities for the group," Davis said.
"We believe that we will offer a unique opportunity for investors as a digital-led retailer, with a portfolio of unique brands, and a significant bias towards US dollar-denominated revenue," he added.