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Chubbies’ Parent Company Files For IPO

Chubbies’ Parent Company Files For IPO

Chubbies' Parent Company Files For IPO

Solo Brands, the parent company of Solo Stove, which is the largest maker of camping stoves and fire pit products, has filed for an initial public offering in an effort to pay down its debt and acquire more brands.

In 2021, the company acquired several emerging outdoor brands such as Chubbies, Oru Kayak and Isle Paddle Boards. The acquisitions have helped the company significantly boost its revenue and become profitable.

The company credits its success to its direct-to-consumer business model across its portfolio of brands. Solo Stove, for one, saw net sales of $133 million in 2020, while Chubbies brought in $44 million in sales. Isle and Oru, meanwhile, saw net sales of $21 million and $12 million, respectively.

“Our DTC model enables us to communicate directly with our customers, which provides real-time customer insights, control of pricing and brand messaging, and helps cultivate a loyal following,” the company said in its S-1 filing. “Our expertise with data and our expansive digital infrastructure position us as an agile, fast-moving leader in the DTC lifestyle marketplace.”

Solo Brands is backed by private equity firm Summit Partners, which will continue to have significant sway over the company for the foreseeable future, according to the company’s SEC filing.

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