Camping World Holdings Inc. CEO Marcus Lemonis admitted on Wednesday (June 6) that he’s “made some rookie mistakes” as the CEO of a public company. To view a video click here or scroll to the right side of the RVBUSINESS.com home page.
“There’s a big transition from being private and I would say that I’ve really learned,” he told “Mad Money” host Jim Cramer in an interview, adding that “the biggest learning curve” was how to communicate his corporate strategy to the public market.
One recent misunderstanding revolved around Camping World’s recent acquisition of Gander Mountain, a hunting, fishing and camping equipment retailer.
“I think what happened was people originally thought that we bought Gander Mountain to get into the big-box retail business,” Lemonis said. “[That’s] false.”
“We disclosed today at the Baird Conference, in a public environment, our real strategy behind the acquisition of Gander,” Lemonis, who also hosts CNBC’s “The Profit” continued. “It was our backdoor entry into the market in Minnesota, Wisconsin, Indiana, Illinois, Pennsylvania and Texas, where we’re going to be putting RVs in most of those locations.”
Lemonis doubled down on the idea that while Camping World sells outdoor accessories, its primary business is in recreational vehicles, commonly known as RVs.
“We have 130 RV dealerships today. At the end of 2019, we’ll have 165, 160 to 165. That’s 20% growth,” Lemonis told Cramer.
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