Digital Brands Group, Inc. ("Digital Brands Group," "DBG" or the "Company") (NASDAQ:DBGI),a publicly traded company specializing in apparel and e-commerce, today announced that the Company has initiated a review of strategic alternatives in order to explore ways to maximize shareholder value. As part of this process, the Company will evaluate a range of potential alternatives including a sale of the Company, a merger, or another strategic or financial transaction.

Digital Brands Group has not set a deadline or definitive timeline for the completion of the strategic alternatives review process, and there can be no assurance that this process will result in any transaction or particular outcome. The Company does not intend to comment further unless and until its Board of Directors has approved a specific course of action or the Company has otherwise determined that further disclosure is appropriate or necessary.