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GOODWILL AND INTANGIBLE ASSETS (Tables)
12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
SCHEDULE OF GOODWILL ATTRIBUTABLE TO EACH BUSINESS COMBINATION

The Company recorded goodwill from each of its business combinations. The following is a summary of goodwill by entity for the years ended December 31, 2023 and 2022:

 

   2023    2022  
   December 31, 
   2023    2022  
Bailey  $3,158,123   $3,158,123 
Stateside   2,104,056    2,104,056 
Sundry   3,711,322    3,711,322 
Goodwill  $8,973,501   $8,973,501 
SCHEDULE OF INFORMATION RELATING TO THE COMPANY’S IDENTIFIABLE INTANGIBLE ASSETS

The following table summarizes information relating to the Company’s identifiable intangible assets as of December 31, 2023 and 2022:

 

December 31, 2023  Gross
Amount
   Accumulated
Amortization
   Carrying
Value
 
Amortized:               
Customer relationships  $8,634,560   $(4,494,223)  $4,140,337 
   $8,634,560   $(4,494,223)  $4,140,337 
                
Indefinite-lived:               
Brand name   5,841,880        5,841,880 
   $14,476,440   $(4,494,223)  $9,982,217 

 

December 31, 2022 

Gross

Amount

  

Accumulated

Amortization

  

Carrying

Value

 
Amortized:               
Customer relationships  $9,734,560    (2,670,202)  $7,064,358 
    9,734,560    (2,670,202)   7,064,358 
                
Indefinite-lived:               
Brand name   5,841,880        5,841,880 
   $15,576,440   $(2,670,202)  $12,906,238 
SCHEDULE OF FUTURE AMORTIZATION EXPENSE

Future amortization expense at December 31, 2023 is as follows:

 

     
Year Ending December 31,    
2024   2,474,177 
2025   1,666,160 
 Carrying value  $4,140,337