YETI is an American company that specializes in the manufacturing of outdoor products like coolers, outdoor gear, and drinkware.
The company was founded in 2006 by brother Roy and Ryan Sanders.
The headquarters for YETI is based in Austin, Texas.
Their products are awarding such as the Tundra Haul which won the Best Cooler at the 2019 Men’s Health Outdoor Awards.
Their products are high end and some of their more substantially priced products cost around $500 and in this article we will explore which companies are really Yeti competitors.
The company is listed on the New York Stock Exchange and trades under the ticker symbol YETI.
It is part of the stock market index S and P 400 component.
In 2020 the company reported total revenue of $1.091 billion and had an operating income of $214.233 million.
YETI has partnered with some well-known stores to stock their goods.
These include Amazon, Dicks Sporting Goods, West Marine, Bass Pro Shops, and Academy Sports and Outdoors.
The company sells its goods in several markets around the world including North America, Oceania, Europe, and Japan.
YETI’s Biggest Competitors
YETI’s main source of income comes from its drinkware line. These are the products that keep liquid at a certain temperature.
The products include are branded as Rambler and include jugs, bottles, tumblers, stackable pint cups, lowballs, wine tumblers, and mugs.
They have an extensive range that caters to any type of drink. The drinkware sales account for 58% of the annual revenue for YETI.
The company derives the bulk of the remaining revenue from its coolers and equipment division.
YETI has a great reputation among consumers for products that are hardy and work well.
Alongside the coolers, other equipment YETI manufactures is beverage holders, locals, storage and transport products, and outdoor living.
It provides both hard and soft coolers and everything else you need for a top-quality outdoor experience.
This side of the business is 40% of YETI’s total annual sales. 2% comes from other merchandise like shirts, hats, and ice substitutes.
Below are the companies that are YETI’s biggest competitors and alternatives:
- Igloo Products Corp – An American company and the global leader for cooler sales.
- Hydro Flask – Steel bottle manufacturer popular among millennials and Gen Z age groups.
- OtterBox – A consumer electronics company that also sells outdoor gear.
- Tervis Tumblers – An American company that provides branded tumblers to the NFL, NHL, and NBA.
YETI Competitors: Igloo Products Corp
Igloo Products Corp is an American company that has been in business since 1947.
Originally the company began as a metalworking shop that produced metal water coolers for blue-collar workers.
The company is based in Katy, Waller County, Texas, and has 1200 employees.
The brand has been in business a lot longer than newcomers YETI so holds a significant share of the cooler market.
Igloo products are also generally much cheaper than YETI which has a premium price.
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Igloo Products Corp is a subsidiary of the privately held investment company ACON Investments LLC.
The company has over 500 goods and it has a worldwide reach.
YETI Competitors: Hydro Flask
Hydro Flask is a very popular brand of water bottle that was created by Travis Rosbach and Cindy Weber in 2009.
The flask was created because the pair were unhappy with the products on the market at the time.
In 2016 the company was acquired by the Helen of Troy Ltd company.
The flask has become very popular among younger generations in particular millennials and Generation Z as they look for more sustainable technologies.
Hydro Flask’s product the Cooler Cup was awarded the gold award at the 2019 iF Design Awards.
In 2018 Hydro Flask had total revenue of $66 million and there were over 160 employees working for them.
Hydro Flask and YETI are in fierce competition with each other as their products are believed to be of similar quality.
YETI products have the advantage of being more durable and dishwasher safe.
Hydro Flask offers a lifetime warranty whereas YETI only provides customers with a 5-year warranty.
YETI Competitors: OtterBox
OtterBox is an American company based out of Fort Collins, Colorado. The company was founded in 1998 by Curt Richardson and David Bridge.
The original ‘OtterBox’ was a cooler designed to be water-resistant to keep electronics safe.
Mobile phones were becoming increasingly more common and outdoor enthusiasts needed a way to keep their electronics safe.
Nowadays OtterBox is more known for its range of mobile phone cases and accessories but they still produce top-quality coolers.
The company has 550 employees that work at its offices based in America, Ireland, Hong Kong, and Dubai.
OtterBox has also provided protection accessories military technology used on battlefields.
In 2017 the company introduced its new range of Venture Coolers to the market which competes with YETI.
According to Men’s Journal, the OtterBox cooler outperforms the YETI cooler. The OtterBox cooler was able to keep ice frozen for a longer period.
YETI Competitors: Tervis Tumblers
Tervis Tumblers is an American company that provides tumblers that are double-walled and insulated.
Its line of products includes sippy cups, mugs, wine glasses, and water bottles.
The company also provides branded products to high-profile institutions like U.S Armed Forces and various sporting leagues.
Tervis Tumbler was founded by Frank Cotter and Howlett Davis in 1946.
They are a privately owned company that has campaigned to reduce plastic waste.
The company is headquartered in Venice, Florida.
Their products are highly popular and provide a similar level of quality as YETI.
Tervis Tumblers are typically cheaper and come with a lifetime warranty, as opposed to the 5-year warranty offered by YETI.
YETI’s advantage is its efforts to make more sustainable products.
Their goods are “built stronger” according to the company which is why they have a premium price.
Older cooler brands such as Coleman and Igloo are significantly cheaper than YETI.
However, the quality is not the same with YETI products being more high-tech and durable.
YETI’s Competitors and Alternatives: Final Thoughts
YETI has created a position for itself as a leader for innovation among its industries.
Despite the many legacy brands that have been around for a long time, YETI has managed to eat into their business by offering a truly superior product.
Although their products are pricey, they’re built to last so will work out cheaper in the long run.
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