COVID-19 continues to fundamentally change the global economic landscape. As some industries collapse, others that were once “left for dead,” are suddenly beaming back to life. Similarly, the pandemic has created an environment ripe for under-the-surface companies to seize opportunity and begin receiving the much-deserved recognition and attention.
For Sortis Holdings, Inc. (OTC Pink: SOHI), the pandemic has been a blessing in disguise. Since the beginning of 2020, Sortis has continued to make meaningful operational progress. From the launch of their latest investment fund, the Sortis Rescue Fund, to the highly-publicized rescue of Seattle’s Rudy’s Barbershop, Sortis Holdings’ efforts have been applauded by major media outlets like the Seattle Times and the Portland Business Journal.
Sortis Growth Fund Places First Investment
Sortis’ latest development continues to show that the management team’s successful mindset when approaching opportunity. The Portland-based alternative investment firm announced that its Sortis Growth Fund has placed an investment in Happier Camper.
The Sortis Growth Fund is specifically designed to help accelerate emerging consumer brands into their next phase of growth. Through an infusion of capital and diverse digital marketing strategy, the growth fund seeks to generate further demand and revenue for consumer brands.
Happier Camper was founded in 2016 and offers a lineup of compact and flexible campers, which are designed to be more functional, stylish, and affordable than conventional campers and RVs.
A key unique feature of Happier Camper is their vertically-integrated operations, which allows the company to maintain quality control and avoid COVID-19-related delays. With global supply chains disrupted, Happier Camper and Sortis will benefit from its vertical-integration.
“Happier Camper is a perfect first investment for our fund,” said Butch Bannon, Fund Manager and Principal. “The demand for their products is incredible and we are excited with the leadership’s vision and plans for the future. We view our investment as the next phase of our relationship as we’ve been working together on e-Commerce strategy for some time now.”
Happier Camper Investment Comes as Americans Drive RV & Camping Demand to New Heights
The COVID-19 pandemic has created a renaissance for RV and camping companies, which have seen their demand explode as a result of Americans searching for viable summer vacation plans. Social distancing and other measures to counter the virus’s spread are shifting American preferences from crowded places and events to luxurious seclusion.
According to a recent Bloomberg report, RV shopping rose as much as 30% across some dealerships when compared to the same period last year. The RV Industry Association recently released results of a survey, which showed 20% of Americans are more interested in RV traveling than in an airplane. As a result, the RV Industry Association estimates that “46 million Americans will take an RV trip in the next year,” according to the organization.
“Demand is off the charts. Cruise America — the nation’s largest RV rental provider — witnessed robust demand last month, almost double from the prior-year period. Business of RVshare also started picking up since mid-April, with sales soaring since mid-May. RVshare saw 1,000% increase in bookings as of May 19 from early April. Its close peer, Outdoorsy, also witnessed a similar surge of bookings to the tune of 1500%,” notes Zacks Equity Research.
Major RV manufacturers and retailers have reported massive growth across the board recently. Some companies even saying they are struggling to keep up with demand. Companies like Airstream-maker, Thor Industries, Inc. (NYSE: THO), Winnebago Industries, Inc. (NYSE: WGO), and even retailers like Camping World Holdings, Inc. (NYSE: CWH), have seen their shares soar in recent months as the RV and camping industry receives a much-needed boost.
Overall, Sortis Holdings and its management team continues to demonstrate their successful approach and strategy, even as 2020 continues to throw curveballs. The Sortis Growth Fund’s first investment already looks like a strong bet, particularly as the RV and camping industry sees unprecedented year-over-year demand. With a strong first half of 2020 nearly in the books, Sortis Holdings continues to show they are just getting started.
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