Digital Brands soared nearly 80% after it launched on Amazon Prime

Digital Brands Group shares soared nearly 80%  as the digital-first clothing retailer launched on Amazon Prime.

Digital Brands chose to undergo a longer on-boarding process to receive approval for Amazon Prime.

"We believe the extra time and work it took to qualify for Amazon Prime will result in much higher short and long-term value versus just selling as a third party on Amazon's site," said Laura Dowling, Chief Marketing Officer of Digital Brands Group.

Furthermore, in the next three days, DSTLD's Brand Store will launch on Amazon, which will include DSTLD's own videos and branded content.

'We are excited to finally move into our growth phase, and believe these programs will show the power of our platform and the growth opportunity for Q4 of 2021 and 2022," said CEO Hil Davis, adding that the company intends to grow through acquisitions.

Digital Brands is guiding for 350% revenue growth for its FY 2022.