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Solo Stove CEO Steps Down After Snoop Dogg’s “Giving Up Smoke” Ad Flops Majorly Resulting In Low Sales

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Solo Stove CEO Steps Down After Snoop Dogg’s “Giving Up Smoke” Ad Flops Majorly Resulting In Low Sales

Remember towards the end of last year when Snoop Dog had the whole world thinking he was giving up smoking? Just for it to be a smoke-less fire-pit ad? Well, it looks like the hype from the ad didn’t add up to sales, so the CEO is being replaced.

According to The Daily, Solo Stove recently appointed a new CEO after the previous one didn’t take the company where it was expected to go.

Snoop Dogg’s ad made national news due to people assuming that the rapper was giving up smoking weed due to his cryptic “giving up smoke” post. Then, days later, Solo Stove dropped the ad with Snoop Dogg showing off a smokeless fire pit to give clarity on the “giving up smoke” post.

Though the ad was viral and garnered the company over 60,000 more followers on social media, the sales didn’t match the online attention. Revenue for the year of 2023 is expected to be between $490 million and $500 million compared to its previous guidance of $520 million to $540 million.

That’s a 30 million dollar drop off! Interim CFO Andrea Tarbox says despite the underwhelming year, with the newly appointed CEO, they plan to make up for their losses.

“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,” Tarbox said.

“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.”

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