(Friday, Oct. 7, 2016) — Good Sam Club and Camping World CEO and Chairman Marcus Lemonis, on the day of Camping World’s IPO and its first day of trading, told CNBC he “hates motorhomes.”
“We don’t like motorhomes because they don’t turn as fast, they’re not high margin,” he said on Friday when talking about the future of Camping World. “We sell them, but they are not big for us. It’s really about selling warranties, insurance, roadside assistance, service, parts.”
Lemonis told CNBC that about 3.3 million RVers of an estimated 9 million in the United States, “have given us money in the last 24 months.”
With 11.4 million shares, Camping World’s initial public offering Friday raised $251 million. It’s trading on the New York Stock exchange as CWH.