By Exec Edge Editorial Staff
Solo Brands, Inc. (NYSE: DTC), a portfolio of direct-to-consumer lifestyle brands, said net sales jumped on improved demand in its wholesale and direct-to-consumer sales channels.
Net sales rose 47.1% to $102.2 million in three month period ended Sept. 30, 2022, the company said in a statement.
Direct-to-consumer revenues increased 48.6% to $86.3 million, it said.
“Both existing and new customers responded positively to the innovation we introduced in the third quarter, which enabled us to expand and extend our deep connection with consumers,” said John Merris, CEO of Solo Brands. “We expect to mitigate current macro-economic headwinds and demonstrate the advantage of our differentiated Solo Brands’ model which emphasizes the experiences enabled by our iconic products.”