Digital Brands Group Appoints New Board Member

Rhea-AI Summary

Digital Brands Group, Inc. (NASDAQ: DBGI) has appointed Lucy Doan to its Board of Directors. With over 25 years of experience in finance and strategy within the consumer sector, Doan has served on various boards, including Grunt Style. CEO Hil Davis expressed confidence in her ability to guide the company through the evolving retail landscape that requires a blend of direct-to-consumer and wholesale approaches. Doan emphasized her excitement about contributing to the company's vision amid significant retail changes.

Positive

• Appointment of Lucy Doan adds 25 years of financial and strategic expertise.
• Doan's experience in both direct-to-consumer and wholesale channels may enhance company strategy.
• Leadership transition could bring fresh perspectives to navigate retail evolution.

Negative

• Concerns about potential continuity and experience gaps in the board with new member addition.

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: invest@digitalbrandsgroup.co
Phone: (800) 593-1047

Related Links
https://www.digitalbrandsgroup.co

View original content:https://www.prnewswire.com/news-releases/digital-brands-group-appoints-new-board-member-301421903.html

SOURCE Digital Brands Group, Inc.

FAQ

What are the qualifications of Lucy Doan joining Digital Brands Group's Board?

Lucy Doan brings 25 years of experience in finance and strategy within the consumer industry, having served on various boards, including Grunt Style.

What is the significance of Lucy Doan's appointment to DBGI?

Her expertise is expected to aid DBGI in navigating the evolving retail landscape, which increasingly blends direct-to-consumer and wholesale models.

How might Lucy Doan's experience impact DBGI's future?

Doan's background in strategic financial oversight may enhance decision-making and help drive company growth amidst retail changes.