YETI (company)

YETI
Private
Founded 2006
Founders Ryan and Roy Seiders
Headquarters Austin, Texas, USA
Products Coolers, drinkware, gear
Website www.yeti.com

YETI is an Austin, Texas-based manufacturer of outdoor lifestyle products such as ice chests, vacuum-insulated stainless-steel drinkware, soft coolers, and related accessories.[1]

History

Brothers Ryan and Roy Seiders grew up in Driftwood, Texas and spent their entire childhood outdoors. Their father was an entrepreneur who designed and built fishing rods. Ryan graduated from Texas A&M University in 1996 and Roy graduated from Texas Tech University in 2000.[2]

Roy, an angler and hunter, began his career making custom boats for fishing the Texas Gulf Coast after graduating from Texas Tech.[3] In 2006, Ryan sold Waterloo Rods, the company he had owned and operated for nine years.[4] The avid outdoorsmen became frustrated with the quality of the coolers available and founded YETI that same year to invent their own high-end cooler in response.

Products

The company targets niche markets of high-end hunting and fishing enthusiasts.[5]

Their first and most common product is the YETI Tundra 45 and 65.[2] Now YETI makes Tundra series coolers ranging from 20qt all the way up to a 350qt, the biggest cooler they make. YETI Tundra comes with up to three inches of insulation, rotationally molded, t-latches to hold the lid down, and durable handles on each side. Tundra lids also have an integrated hinge system does not allow the lid to hyper-extend. In addition, when a Tundra is locked with two padlocks, it becomes grizzly bear proof according to the Interagency Grizzly Bear Committee.[6] YETI also makes soft-sided coolers called the Hopper series.

Another product YETI makes is an ice bucket called the YETI Tank. It is a large ice bucket that comes in two different sizes, a 45qt and a 65qt. The Tank is built to hold many beverage bottles or cans or large enough to be able to ice down a keg. YETI also offers stainless steel drinkware products. They offer a Tumbler, a stainless steel cup, in sizes 10oz, 20oz, and 30oz.[7] They also offer a cup called the Colster that can hold a 12oz beverage can or bottle to keep it cold. In addition to that, YETI also offers Tumbler water bottles with a screw on lid.

Market

YETI sponsors professional outdoorsman, such as Cameron Hanes, Flip Pallot and many more.[8] YETI also sponsors a lot of hunting and fishing shows like the Outdoor Channel.[9] They are on multiple social media sites including Instagram, Facebook, YouTube, and Twitter. YETI is active on their social media and often post pictures and videos daily. However, much of their marketing comes from their own consumers who take pictures and post to show all of their friends how much they enjoy YETI’s products.

Sales

YETI sells their products in over 6,000 independent retailers such as West Marine, Bass Pro, Cabelas, REI, and Dicks Sporting Goods. YETI’s earnings in 2015 were $14.2 million and in 2016 are $72.2 million.[10] YETI’s sales have increased from $147.7 million in 2015 to $468.9 million in 2016. YETI is one of the fastest growing outdoor companies today. Their coolers range in price anywhere from $250- $1300.[11]

References

  1. ↑ "Speaking of YETI". Angling Trade. Retrieved July 30, 2015.
  2. 1 2 Saporito, Bill. "How Two Brothers Turned a $300 Cooler Into a $450 Million Cult Brand". inc.com. Retrieved 18 November 2016.
  3. ↑ "Playing it Cool: The Founders of YETI Coolers". ATXMan. Retrieved October 1, 2013.
  4. ↑ "The Most Expensive, Bear-Proof, Thief-Baiting Way to Keep Your Beer Cold". Bloomberg. Retrieved October 17, 2013.
  5. ↑ "How YETI Made a Cooler an Aspirational Brand". AdAge. Retrieved Oct 6, 2014.
  6. ↑ Goggans, Ashton. "Yeti's Crazy Coolers". surfermag.com. Retrieved 18 November 2016.
  7. ↑ Michels, Patrick. A Brief History of Yeti Coolers "A Brief History of Yeti Coolers" Check |url= value (help). Retrieved 18 November 2016.
  8. ↑ [1] "Gear - Cameron Hanes." N.p., n.d. Web. 24 Oct. 2016.
  9. ↑ [1] Rodriguez., Ashley. "How Yeti Made a Cooler an Aspirational Brand."Advertising Age CMO Strategy RSS. N.p., 06 Oct. 2014. Web. 18 Oct. 2016.
  10. ↑ [1] Minaya, E. (2016). Yeti, maker of coolers and Rambler mug, files for IPO. Retrieved October 18, 2016, from http://www.marketwatch.com/story/yeti-maker-of-coolers-and-rambler-mug-files-for-ipo-2016-07-01
  11. ↑ [1] @. (2016). Yeti's Crazy Coolers | SURFER Magazine. Retrieved October 18, 2016, from http://www.surfermag.com/blogs/surfer-approved/surfer-approved-yeti-coolers/#jURCflkzBdwk0Xs1.97

External links

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