Solo Stove started off as a pure direct-to-consumer (DTC) player, but as growth in DTC slowed, they began moving into traditional wholesale channels. Their business has evolved so much that wholesale has been much healthier than DTC.
Not only can you see it in their financials, but their earnings calls sound much more like a traditional manufacturer. Their wholesale footprint has been expanding quite a bit which helps them reach new customers. They’ve picked-up more distribution from Dick’s Sporting Goods and Tractor Supply.