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Yeti Holdings

January 01, 1970

For other uses of Yeti, see Yeti (disambiguation).

YETI is an American manufacturer specializing in outdoor products such as ice chests, vacuum-insulated stainless-steel drinkware, soft coolers, and related accessories.[2] They are based in Austin, Texas.[2]

YETI Holdings, Inc.
Company typePublic
ISINUS98585X1046
Founded2006; 18 years ago (2006)
FoundersRyan and Roy Seiders
Headquarters
Austin, Texas
,
U.S.
ProductsCoolers, drinkware, gear
Revenue US$1.66 billion (2023)
US$169.9 million (2023)
Websiteyeti.com
Footnotes / references
[1]

History edit

YETI was founded by Roy and Ryan Seiders in 2006. The brothers grew up in Driftwood, Texas, and spent a large portion of their childhood outdoors. Their father Roger Seiders was an entrepreneur that designed a fishing rod epoxy.[3] Ryan graduated from Texas A&M University in 1996 and Roy graduated from Texas Tech University in 2000.[4]

In 2006, Ryan started Waterloo Rods[3] and sold the company nine years later.[5] Roy, an angler and hunter, began his career making custom boats that were designed for fishing in shallow depth areas on the Texas Gulf Coast.[3] The avid outdoorsmen became frustrated with the quality of the coolers available and founded YETI in response.

In June 2012, a two-thirds stake of the company was purchased by private equity firm Cortec Group for $67 million.[6][7]

In July 2016, the company filed with the Security and Exchange Commission for an initial public offering with plans to list on the New York Stock Exchange under the "YETI" symbol.[8] The company was seeking a valuation of $5 billion and hoped to raise $100 million, but retracted the IPO two years later, in March 2018, citing "market conditions".[9][10]

On February 23, 2017 YETI opened its first flagship store in Austin, TX.[11] Today, YETI has opened over 20 stores across the United States.

As of January 8, 2018, YETI still was a sponsor of the PBR[12] and the YETI "Built for the Wild" event.[13]

On October 25, 2018, YETI became a public company via an initial public offering of 16 million shares at a price of $18 per share.[14]

On November 4, 2020, YETI initiated a consumer product safety recall for over 240,000 Rambler mugs, manufactured in China, for what the U.S. Consumer Product Safety Commission described as "Injury and Burn Hazards". The commission explained that the magnetic slider on the lid could malfunction and hot contents could spill. The product was sold at stores nationwide and through the company's website during October that year.[15]

Products edit

The company targets niche markets of high-end hunting and fishing enthusiasts, outdoorsmen, beach goers, and water enthusiasts.[16] YETI sponsored professional outdoors-men and hunting and fishing shows.[citation needed]

Products range in price substantially, some upwards of $500.[citation needed]

Coolers edit

 
Yeti Hopper bag

YETI's "Tundra" series of coolers ranges from 20 quarts to 350 quarts. The Tundra line can be locked with two padlocks, making it certified bear-resistant according to the Interagency Grizzly Bear Committee.[17]

YETI also makes soft-sided coolers called the "Hopper" series.[18] The "Hopper" series coolers are designed to be lightweight and more transportable than standard YETI coolers.

YETI is known for its expensive coolers. Their most expensive one is 82 gallons and sells for $1,300. YETI has many other products besides the coolers but this is what they are best known for. The idea of these coolers was founded by the Seiders brothers: two outdoorsmen who felt there were not any coolers that could keep their catch, kills, and beverages cold for a longer period of time. The brothers teamed up with a factory in the Philippines to create an "indestructible cooler", with superior ice retention.[19][20][21]

Other products edit

 
Yeti Rambler Mug (14 oz)

YETI also sells drinkware, bags, and miscellaneous outdoor gear. YETI sells drinkware products under the "Rambler" line ranging from 10 ounces to one gallon in size.[22] The company also makes an ice bucket called the "YETI Tank".[23]

Sales edit

YETI sells their products to various retailers such as Academy Sports and Outdoors, Bass Pro Shops,[3] and other retailers including Amazon Marketplace, West Marine, Cabela's, REI, Dicks Sporting Goods, and North 40 Outfitters. [citation needed]

YETI's sales increased from $147.7 million in 2015 to $468.9 million in 2016.[9] YETI's earnings in 2015 were $14.2 million and in 2016 were $72.2 million.[24] YETI's DTC sales accounted for "30% of revenue in 2017".[25]

Accolades edit

Outside magazine calls Yeti's Rambler "the best mug ever made".[26] Field & Stream stated that the release of Yeti's Base Camp Chair officially declared the company's "dedication to a comfy derrière".[27] Business Insider calls them "a status symbol in the United States".[19]

See also edit

References edit

  1. ^ "YETI Holdings Inc". Market Watch. July 17, 2019. Retrieved July 17, 2019.
  2. ^ a b "Speaking of YETI". Angling Trade. July 30, 2015. Retrieved July 30, 2015.
  3. ^ a b c d Steffy, Loren (December 2016). "The Pot of Cold". Texas Monthly. Retrieved July 22, 2019.
  4. ^ Saporito, Bill (February 2016). "How Two Brothers Turned a $300 Cooler Into a $450 Million Cult Brand". Inc. Retrieved November 18, 2016.
  5. ^ Mayo, Keenan (October 24, 2013). "The Most Expensive, Bear-Proof, Thief-Baiting Way to Keep Your Beer Cold". Bloomberg. Retrieved July 3, 2019.
  6. ^ Jarzemsky, Matt (September 24, 2016). "Yeti: How a $67 Million Investment Became a $3.3 Billion Windfall". The Wall Street Journal. from the original on May 8, 2018. Retrieved May 8, 2018.
  7. ^ Calnan, Christopher (June 22, 2012). "Funding details on Yeti Coolers acquisition disclosed". Austin Business Journal. from the original on January 20, 2014. Retrieved May 8, 2018.
  8. ^ "YETI Holdings (YETI) Files for $100M IPO". StreetInsider.com. July 1, 2016. from the original on January 2, 2017. Retrieved May 3, 2018.
  9. ^ a b Gintzler, Ariella (March 27, 2018). "Yeti Coolers Withdraws Its IPO". Outside. from the original on March 28, 2018. Retrieved May 3, 2018.
  10. ^ Farrell, Maureen; Jarzemsky, Matt (October 26, 2016). "Yeti May Delay IPO and Bring In More Private Money". The Wall Street Journal. from the original on May 4, 2018. Retrieved May 3, 2018.
  11. ^ "Inside Yeti's New and Unbelievably Cool(er) Flagship Store". Retrieved April 24, 2024.
  12. ^ Hine, Samuel (January 8, 2018). "The Biggest Belts, Hats, and Logos We Saw at MSG's Bull-Riding Rodeo". GQ. Retrieved July 3, 2019.
  13. ^ "Professional Bull Riders ride into Gila River Arena". The Glendale Star. March 29, 2018. Retrieved July 3, 2019.
  14. ^ Clifford, Tyler (October 25, 2018). "Yeti CEO shrugs off his IPO's drop and defends the high prices of his premium coolers". CNBC. Retrieved July 23, 2019.
  15. ^ "YETI Recalls Rambler Travel Mugs with Stronghold Lid Due to Injury and Burn Hazards". U.S. Consumer Product Safety Commission. November 4, 2020. from the original on November 28, 2020. Retrieved January 1, 2021.
  16. ^ Rodriguez, Ashley (October 6, 2014). "How YETI Made a Cooler an Aspirational Brand". Ad Age. Retrieved July 5, 2019.
  17. ^ Goggans, Ashton (July 2, 2016). "Yeti's Crazy Coolers". Surfer. Retrieved November 18, 2016.
  18. ^ Mitka, Nate (April 4, 2017). . gearjunkie.com. Archived from the original on April 30, 2019. Retrieved April 30, 2019.
  19. ^ a b Flanagan, Graham (February 13, 2019). "How popular brand YETI made their expensive coolers a status symbol in America". Business Insider. Retrieved July 17, 2019.
  20. ^ "Problems With Yeti Coolers - Are They Worth The Money?". thecoolerbox.com. July 20, 2016. Retrieved November 10, 2019.
  21. ^ "Yeti Cooler Review". thecoolerzone.com. June 16, 2019. Retrieved November 11, 2019.
  22. ^ Michels, Patrick. "A Brief History of Yeti Coolers". Men's Journal. Retrieved November 18, 2016.
  23. ^ Kurutz, Steven (September 28, 2017). "Can a $300 Cooler Unite America?". The New York Times. Retrieved July 5, 2019.
  24. ^ Minaya, Ezequiel (July 1, 2016). "Yeti, maker of coolers and Rambler mug, files for IPO". The Wall Street Journal. Retrieved July 5, 2019.
  25. ^ Trainer, David (October 25, 2018). "Will Yeti Holding's IPO Stay Cool Like Its Coolers?". Forbes. Retrieved July 5, 2019.
  26. ^ Egensteiner, Will (February 14, 2019). "The Yeti Rambler Is the Best Mug Ever Made". Outside. Retrieved July 27, 2019.
  27. ^ Bastone, Kelly (March 5, 2018). "Gear Review: The Yeti Hondo Base Camp Chair". Field & Stream. Retrieved July 27, 2019.

Further reading edit

External links edit

  • Official website  
  • Business data for YETI Holdings Inc.:
    • Bloomberg
    • Google
    • Reuters
    • SEC filings
    • Yahoo!

January 01, 1970
yeti, holdings, other, uses, yeti, yeti, disambiguation, yeti, american, manufacturer, specializing, outdoor, products, such, chests, vacuum, insulated, stainless, steel, drinkware, soft, coolers, related, accessories, they, based, austin, texas, yeti, holding. For other uses of Yeti see Yeti disambiguation YETI is an American manufacturer specializing in outdoor products such as ice chests vacuum insulated stainless steel drinkware soft coolers and related accessories 2 They are based in Austin Texas 2 YETI Holdings Inc Company typePublicTraded asNYSE YETIS amp P 400 componentISINUS98585X1046Founded2006 18 years ago 2006 FoundersRyan and Roy SeidersHeadquartersAustin Texas U S ProductsCoolers drinkware gearRevenueUS 1 66 billion 2023 Net incomeUS 169 9 million 2023 Websiteyeti wbr comFootnotes references 1 Contents 1 History 2 Products 2 1 Coolers 2 2 Other products 3 Sales 4 Accolades 5 See also 6 References 7 Further reading 8 External linksHistory editYETI was founded by Roy and Ryan Seiders in 2006 The brothers grew up in Driftwood Texas and spent a large portion of their childhood outdoors Their father Roger Seiders was an entrepreneur that designed a fishing rod epoxy 3 Ryan graduated from Texas A amp M University in 1996 and Roy graduated from Texas Tech University in 2000 4 In 2006 Ryan started Waterloo Rods 3 and sold the company nine years later 5 Roy an angler and hunter began his career making custom boats that were designed for fishing in shallow depth areas on the Texas Gulf Coast 3 The avid outdoorsmen became frustrated with the quality of the coolers available and founded YETI in response In June 2012 a two thirds stake of the company was purchased by private equity firm Cortec Group for 67 million 6 7 In July 2016 the company filed with the Security and Exchange Commission for an initial public offering with plans to list on the New York Stock Exchange under the YETI symbol 8 The company was seeking a valuation of 5 billion and hoped to raise 100 million but retracted the IPO two years later in March 2018 citing market conditions 9 10 On February 23 2017 YETI opened its first flagship store in Austin TX 11 Today YETI has opened over 20 stores across the United States As of January 8 2018 YETI still was a sponsor of the PBR 12 and the YETI Built for the Wild event 13 On October 25 2018 YETI became a public company via an initial public offering of 16 million shares at a price of 18 per share 14 On November 4 2020 YETI initiated a consumer product safety recall for over 240 000 Rambler mugs manufactured in China for what the U S Consumer Product Safety Commission described as Injury and Burn Hazards The commission explained that the magnetic slider on the lid could malfunction and hot contents could spill The product was sold at stores nationwide and through the company s website during October that year 15 Products editThe company targets niche markets of high end hunting and fishing enthusiasts outdoorsmen beach goers and water enthusiasts 16 YETI sponsored professional outdoors men and hunting and fishing shows citation needed Products range in price substantially some upwards of 500 citation needed Coolers edit nbsp Yeti Hopper bag YETI s Tundra series of coolers ranges from 20 quarts to 350 quarts The Tundra line can be locked with two padlocks making it certified bear resistant according to the Interagency Grizzly Bear Committee 17 YETI also makes soft sided coolers called the Hopper series 18 The Hopper series coolers are designed to be lightweight and more transportable than standard YETI coolers YETI is known for its expensive coolers Their most expensive one is 82 gallons and sells for 1 300 YETI has many other products besides the coolers but this is what they are best known for The idea of these coolers was founded by the Seiders brothers two outdoorsmen who felt there were not any coolers that could keep their catch kills and beverages cold for a longer period of time The brothers teamed up with a factory in the Philippines to create an indestructible cooler with superior ice retention 19 20 21 Other products edit nbsp Yeti Rambler Mug 14 oz YETI also sells drinkware bags and miscellaneous outdoor gear YETI sells drinkware products under the Rambler line ranging from 10 ounces to one gallon in size 22 The company also makes an ice bucket called the YETI Tank 23 Sales editYETI sells their products to various retailers such as Academy Sports and Outdoors Bass Pro Shops 3 and other retailers including Amazon Marketplace West Marine Cabela s REI Dicks Sporting Goods and North 40 Outfitters citation needed YETI s sales increased from 147 7 million in 2015 to 468 9 million in 2016 9 YETI s earnings in 2015 were 14 2 million and in 2016 were 72 2 million 24 YETI s DTC sales accounted for 30 of revenue in 2017 25 Accolades editOutside magazine calls Yeti s Rambler the best mug ever made 26 Field amp Stream stated that the release of Yeti s Base Camp Chair officially declared the company s dedication to a comfy derriere 27 Business Insider calls them a status symbol in the United States 19 See also editVacuum flaskReferences edit YETI Holdings Inc Market Watch July 17 2019 Retrieved July 17 2019 a b Speaking of YETI Angling Trade July 30 2015 Retrieved July 30 2015 a b c d Steffy Loren December 2016 The Pot of Cold Texas Monthly Retrieved July 22 2019 Saporito Bill February 2016 How Two Brothers Turned a 300 Cooler Into a 450 Million Cult Brand Inc Retrieved November 18 2016 Mayo Keenan October 24 2013 The Most Expensive Bear Proof Thief Baiting Way to Keep Your Beer Cold Bloomberg Retrieved July 3 2019 Jarzemsky Matt September 24 2016 Yeti How a 67 Million Investment Became a 3 3 Billion Windfall The Wall Street Journal Archived from the original on May 8 2018 Retrieved May 8 2018 Calnan Christopher June 22 2012 Funding details on Yeti Coolers acquisition disclosed Austin Business Journal Archived from the original on January 20 2014 Retrieved May 8 2018 YETI Holdings YETI Files for 100M IPO StreetInsider com July 1 2016 Archived from the original on January 2 2017 Retrieved May 3 2018 a b Gintzler Ariella March 27 2018 Yeti Coolers Withdraws Its IPO Outside Archived from the original on March 28 2018 Retrieved May 3 2018 Farrell Maureen Jarzemsky Matt October 26 2016 Yeti May Delay IPO and Bring In More Private Money The Wall Street Journal Archived from the original on May 4 2018 Retrieved May 3 2018 Inside Yeti s New and Unbelievably Cool er Flagship Store Retrieved April 24 2024 Hine Samuel January 8 2018 The Biggest Belts Hats and Logos We Saw at MSG s Bull Riding Rodeo GQ Retrieved July 3 2019 Professional Bull Riders ride into Gila River Arena The Glendale Star March 29 2018 Retrieved July 3 2019 Clifford Tyler October 25 2018 Yeti CEO shrugs off his IPO s drop and defends the high prices of his premium coolers CNBC Retrieved July 23 2019 YETI Recalls Rambler Travel Mugs with Stronghold Lid Due to Injury and Burn Hazards U S Consumer Product Safety Commission November 4 2020 Archived from the original on November 28 2020 Retrieved January 1 2021 Rodriguez Ashley October 6 2014 How YETI Made a Cooler an Aspirational Brand Ad Age Retrieved July 5 2019 Goggans Ashton July 2 2016 Yeti s Crazy Coolers Surfer Retrieved November 18 2016 Mitka Nate April 4 2017 YETI Hopper 30 A Good Cooler Gets Better gearjunkie com Archived from the original on April 30 2019 Retrieved April 30 2019 a b Flanagan Graham February 13 2019 How popular brand YETI made their expensive coolers a status symbol in America Business Insider Retrieved July 17 2019 Problems With Yeti Coolers Are They Worth The Money thecoolerbox com July 20 2016 Retrieved November 10 2019 Yeti Cooler Review thecoolerzone com June 16 2019 Retrieved November 11 2019 Michels Patrick A Brief History of Yeti Coolers Men s Journal Retrieved November 18 2016 Kurutz Steven September 28 2017 Can a 300 Cooler Unite America The New York Times Retrieved July 5 2019 Minaya Ezequiel July 1 2016 Yeti maker of coolers and Rambler mug files for IPO The Wall Street Journal Retrieved July 5 2019 Trainer David October 25 2018 Will Yeti Holding s IPO Stay Cool Like Its Coolers Forbes Retrieved July 5 2019 Egensteiner Will February 14 2019 The Yeti Rambler Is the Best Mug Ever Made Outside Retrieved July 27 2019 Bastone Kelly March 5 2018 Gear Review The Yeti Hondo Base Camp Chair Field amp Stream Retrieved July 27 2019 Further reading editKurutz Steven September 28 2017 Can a 300 Cooler Unite America The New York Times ISSN 0362 4331 External links editOfficial website nbsp Business data for YETI Holdings Inc BloombergGoogleReutersSEC filingsYahoo Retrieved from https en wikipedia org w index php title Yeti Holdings amp oldid 1220615738, wikipedia, wiki, book, books, library,

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