Russia sees a hike in demand in the outdoor goods market
Russian outdoor brands enjoy a strong rise in popularity, primarily owing to the exit of their foreign competitors from the market and a general upshift in outdoor tourism in the country, Russian outdoor goods retailer Globaldrive reported. “We are witnessing a significant growth in sales [of Russian brands]. This is ...
Solo Brands sets FY23 revenue range
Solo Brands, parent of Oru Kayak, Isle paddleboards, Chubbies apparel, and Solo Stoves, is forecasting 0.5 percent to 4.3 percent revenue growth in FY23 to a range of $520 to $540 million with a corresponding adjusted Ebitda margin of 16.5 to 17.5 percent.
Solo Brands eyes deeper assortments with wholesale partners
The publicly traded Grapevine, TX company, which owns four businesses led by its Solo Stove unit, has a Direct-To-Consumer to Wholesale ratio of 85 to 15, a percentage that is likely to persist given Solo’s extreme focus on its relationship with customers. But Solo has a new partnership with warehouse ...
Three European brands among winners of U.S. Outdoor Sports Retail Performance Awards
The NPD Group today announced the winners of its third annual Outdoor Sports Retail Performance Awards. The awards recognize the fastest-growing brands in U.S. outdoor and snow sports retail, based on in-store and e-commerce sales, according to data from NPD’s Retail Tracking Service.
CLR Outdoor presents folding backpack kayak at German Shark Tank
Berlin-based start-up CLR Outdoor, consisting of founders Constanze Lenau and Daniel Schult, presented their folding kayak VIK 3.8 on the German version of the entertainment show Shark Tank on Sep. 5. Although no deal materialized, the TV appearance helped introduce the product to a broader target audience. The kayak, which ...
Solo Brands generates 53 percent increase in Q2 sales
Solo Brands, a direct-to-consumer-focused company that currently owns four lifestyle brands, reported a 53 percent increase in second-quarter earnings to $136.0 million from $88.7 million for the period ended June 30. The revenue gain was driven by acquired businesses and higher DTC and wholesale channel revenues. DTC sales rose 63 ...
Folding kayak start-up wins Globetrotter as distribution partner
With its kayak VIK 3.8, made of one piece and completely foldable, the German start-up CLR Outdoor GmbH has now secured Globetrotter as its exclusive distribution partner for the 2022 season. Sales start is June 1. As part of its InnoLab start-up support program, Globetrotter had already assisted CLR Outdoor ...
Pelican International acquires GSI Outdoors
Canadian paddlesports supplier Pelican International, Inc. (not to be confused with U.S. specialty case manufacturer Pelican Products Inc.) has acquired a majority stake in Spokane-based GSI Outdoors. The transaction is an important step in Pelican’s growth as it strives to diversify its offerings in the North American and international outdoor ...
Solo Brands with new CFO and new board members
Solo Brands has appointed Somer Webb as CFO, effective May 16. Sam Simmons, the company’s current CFO, will remain with Solo Brands to ensure a smooth transition. Somer brings more than 15 years of financial experience to Solo Brands. She has extensive experience in financial planning and analysis, mergers and ...
Solo Brands records 19% sales increase in Q1
Solo Brands, the U.S. DTC company owning the Solo Stove, Oru Kayak, Isle paddleboards and Chubbies apparel brands, said its sales increased 19.0 percent to $82.2 million in Q1 2022, ended March 31, compared to $69.1 million in the first quarter of 2021. The increase was driven by the acquisitions ...
Solo Brands with very profitable 2021
Solo Brands Inc., the U.S. company that began trading on the New York Stock Exchange in October 2021 and owns several DTC-focused brands, announced its financial results for the three and twelve-month periods ended Dec. 31, 2021. The operating results in 2021 include the activity of Oru Kayak, Isle Paddleboard ...
Johnson Outdoors with new VP global ops & supply chain
Johnson Outdoors Inc, the U.S.-based company with a portfolio of brands in water sports, fishing, diving and camping that includes the Jetboil, Eureka, Ocean Kayak and Scubapro brands, has appointed Terry Troutman as its new vice president, global operations and supply chain. Troutman will report to Helen Johnson-Leipold, CEO, and ...
Solo Brands seeks new CFO
Solo Brands, the U.S. company that began trading on the New York Stock Exchange in October and owns several DTC-focused brands, including Solo Stove, Chubbies, Oru Kayak and Isle Paddleboard, announced that its current CFO, Sam Simmons, will step down later this year. Simmons will remain in the CFO role ...
Kent Outdoors acquires Kona Bicycles
Since its beginnings just over 34 years ago, Vancouver, B.C.-based bicycle manufacturer Kona Bicycles says it has “evolved from a small business in the Pacific Northwest to a far-reaching global brand.” On Jan. 19, the Canadian company announced that it has joined U.S.-based Kent Outdoors (formerly Kent Watersports) “to compete ...
Solo boosts sales with acquisitions, but added expenses weaken income
Solo Brands, the U.S. company that began trading on the New York Stock Exchange in October and owns the Solo Stove, Chubbies, Oru Kayak and Isle Paddleboard brands, reported that net income attributable to Solo Stove Holdings fell 79 percent to $1.2 million from $10.3 million in the third and ...
Big Gear Show in Utah announces dates for 2022
The Big Gear Show (TBGS) has announced the date for its next event. The U.S. multi-category trade show for the paddlesports, cycling, climbing and camping markets with fully integrated demos will return to Deer Valley Resort in Utah on Aug. 2-3, 2022. The debut of TBGS in Deer Valley last ...
Solo Brands announces IPO pricing
Solo Brands, Inc., the owner of the Solo Stove, Chubbies, Oru Kayak and Isle Paddleboard brands, today announced the pricing of its initial public offering of 12,903,225 shares of its Class A common stock at a price to the public of $17.00 per share. In addition, the company has granted ...
OvareVentures expands portfolio of outdoor brands
OvareVentures, a “committed growth initiative” of privately held Los Angeles-based holding company OvareGroup, has acquired Toronto-based Gull Lake Boat Works, a canoe and kayak manufacturer and restorer founded in 2008 by owner-operator Marc Russell. In August, OvareGroup named retail veteran Kara Anastasiadis president of the newly formed OvareGroup Outdoor Division. ...
New paddle trade show in Lyon
With the Covid-related postponement of the first Paddledays canoe show in Kassel, Germany, by one year to September 2022, a new player in the European paddling industry has stepped forward: The Paddle Sports Show in Lyon, France, now wants to replace PaddleExpo in Nuremberg, Germany, which was held for the ...
Solo Stoves re-named Solo Brands after acquisitions
U.S.-based camping stove manufacturer Solo Stove is now Solo Brands after announcing on Sept. 3 the acquisition of apparel company Chubbies Shorts, folding kayak manufacturer Oru Kayak (ISPO Brand New overall winner 2014) and ISLE, a maker of paddleboards for yoga, fishing, touring, surfing and more. The company plans to ...