Solo Brands Posts Wholesale Growth in Q2, DTC Business Down
August 3, 2023
Solo Brands, parent company of Solo Stove, Oru Kayak, Isle, and Chubbies, posted a significant gain in its wholesale business for the second quarter of the year. Wholesale revenues increased 57% to $31.3 million for the quarter ended June 30.
Solo’s wholesale growth and momentum is coming primarily from the Chubbies and Solo Stove brands, said John Merris, CEO of Solo Brands, in a conference call with investors Thursday morning.
However, direct-to-consumer revenues decreased 14.2% to $99.7 million, leaving the Grapevine, Texas-based company with a decline in net sales of 3.7% to $130.9 million. The Daily Outdoor Retailer