Last year in November, Snoop Dogg shared a post on his IG stating that he's 'giving up smoke', taking the internet by literal storm.
“After much consideration and conversation with my family, I’ve decided to give up smoke,” he wrote on Instagram.
"Please respect my privacy at this time".
Although it surprised many, he did get the support by fans, and people were also convinced that he was opening a new vape business.
But nah, turns out it was a marketing campaign for a smokeless fire pit. He was giving up some other smoke.
The former CEO told The Daily, that the collaboration with Snoop brought the page 60K new followers.
However, at the end of the day, they do want sales, and apparently, it fell short of its US $520-$540 million yearly revenue stream, resulting in a change of CEO.
“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,” interim CFO Andrea Tarbox told The Daily.
“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.”
The 2024 targets for the company have been adjusted and the new CEO has to now achieve revenue targets ranging between US $490 million and $500 million.
Not sure who has a spare $500 to spend on some smokeless fire pit, but hey good luck with that!
