The CEO of Solo Stove, who launched a campaign with rapper Snoop Dogg late last year, has resigned after the campaign flopped.
Snoop shared on social media that he was “Giving Up Smoke,” which shocked fans but it was later revealed to be a paid campaign to promote the brand.
“While our unique marketing campaigns raised brand awareness of Solo Stove to an expanded and new audience of consumers, it did not lead to the sales lift that we had planned, which, combined with the increased marketing investments, negatively impacted our EBITDA,” Solo Stove Interim CFO Andrea Tarbox said in a statement. “We believe there is a significant opportunity for us to build awareness and that these new campaigns will expand our reach and benefit our brands over the long term.”
Snoop received a bag but it seems the company may have lost money rather than making any.
Former Vista Outdoor CEO Christopher Metz has been announced as Solo Brands’ new president, CEO, and board director, effective January 15.
