What is the story behind RTIC and YETI?

Yeti Holdings

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]

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]

As of January 8, 2018, Yeti still was a sponsor of the PBR [11] and the YETI «Built for the Wild» event. [12]

In April 2018, the National Rifle Association, via its National Rifle Association Institute for Legislative Action, announced that YETI refused to be a vendor. [13] The NRA then dropped YETI as its official supplier of coolers. This led to a backlash from NRA members, leading some to destroy YETI products they had already purchased. In response to the NRA’s comment, Yeti contacted The Washington Post and said that the NRA’s comment was «inaccurate» and that neither the NRA nor the NRA’s Foundation was targeted, and other organizations were also included in the removal of a «group of outdated discounting programs». [14]

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. [15]

In September 2019, Yeti opened its first flagship store in Wicker Park, Chicago. [16] Today, multiple store locations have opened in Dallas, Denver, and across Florida.

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. [17]

Products [ edit ]

The company targets niche markets of high-end hunting and fishing enthusiasts, outdoorsmen, beach goers, and water enthusiasts. [18] YETI sponsored professional outdoors-men and hunting and fishing shows. [ citation needed ]

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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. [19]

YETI also makes soft-sided coolers called the «Hopper» series. [20] 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. [21] [22] [23]

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. [24] The company also makes an ice bucket called the «YETI Tank». [25]

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, and Dicks Sporting Goods. [ 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. [26] YETI’s DTC sales accounted for «30% of revenue in 2017». [27]

Accolades [ edit ]

Outside magazine calls Yeti’s Rambler «the best mug ever made». [28] Field & Stream stated that the release of Yeti’s Base Camp Chair officially declared the company’s «dedication to a comfy derrière». [29] Business Insider calls them «a status symbol in the United States». [21]

References [ edit ]

^«YETI Holdings Inc». Market Watch. July 17, 2019 . Retrieved July 17, 2019 .
^ ab
«Speaking of YETI». Angling Trade. July 30, 2015 . Retrieved July 30, 2015 .
^ abcd
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 .
^ ab
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 .
^
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 .
^
Hammer, Marion P (April 21, 2018). «NRA-ILA — Florida Alert: YETI Drops NRA Foundation». NRA-ILA . Retrieved July 3, 2019 .
^
Flynn, Meagan (April 24, 2018). «NRA supporters are blowing up Yeti coolers. Yeti says it’s all a big mistake». The Washington Post . 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 .
^
«Here’s What the Yeti Store That Replaced Double Door In Wicker Park Looks Like (PHOTOS)». Block Club Chicago . Retrieved December 30, 2020 .
^
«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 . Retrieved April 30, 2019 .
^ ab
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 & Stream . Retrieved July 27, 2019 .

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External links [ edit ]

Official website
Business data for YETI Holdings Inc.:

Think Outside

Save your money for your adventure. We’ll back you up with products that perform—whether you’re icing down six-packs for a tailgate party or fly fishing the Bighorn River.

RTIC Outdoors is lucky to have some of the most loyal customers in the world. And that is something we will never take for granted. So lace up your boots. Pack up your truck. Hook up your boat. Hit the trail. And never look back.

“Top-notch company and top-notch products.”
— Steve Whateley, verified purchaser

Let’s be direct.

Between you and everything you purchase, there’s a distance. Our passion—our specialty—is to shorten that distance. We looked at traditional business models and distribution channels and realized these traditions needed changing in order to bring people and experience together. Some companies, to stay competitive, will compromise on quality in a price-driven race to the bottom. Other companies cling to the status quo, pricing themselves out of the real world, hoping their customers will play along and pay along.

We do neither.

Whether it’s an ice cooler or a barbecue grill, we eliminate anything that gets in the way of your experience. You don’t need big-box retailers, celebrity endorsements, or complex distribution networks to get the things you want the way you want them at a price you want to pay. Word of mouth, from real people, amplified by social media, speaks to the new truth.

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The Direct To Consumer Retailer of Extreme Rotomolded Coolers

We are a direct to consumer retailer. We offer a very compelling value proposition on quality rotomolded coolers. We’re the brand, the importer, the shop, and the marketing arm, all in one. We intentionally forgo the traditional cooler distribution channel the other brands are tied to because this outdated distribution channel is expensive. The company is based in Houston Texas and has 5 fulfillment warehouses located in Fresno California, Romeoville Illinois, Houston Texas, Atlanta Georgia & Pittston Pennsylvania.

About The Owners

Entrepreneurial twin brothers, John and Jim Jacobsen, gained success in the cooler industry by selling their high-end products for less. They offer high quality coolers with all of the features customers want — at a fraction of the price you can buy in a retail outlet. How? By cutting out the big box retailers, using word of mouth, & social media to promote their coolers.

In the three years since launching Rtic Coolers—now known as Rtic Outdoors—the duo’s ultimate goal remains the same; provide high-quality, affordable products for all. The brothers are ready for the journey ahead!

“It’s about the adventure, and how you can take RTIC along—you spend the money on the adventure, not on the gear.” — Jim Jacobsen

Is RTIC and Yeti The Same Company? Plus Other RTIC Questions Answered

RTIC have quickly become one of the most popular competitors to Yeti with their range of look-a-like coolers and tumblers. But there is a lot of confusion around the RTIC brand…who owns them? Are they the same as Yeti etc.

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So in this article I’ll be answering some of the biggest questions about RTIC coolers and tumblers plus the company itself “RTIC Outdoors”.

Is RTIC and Yeti the same company?

Yeti and RTIC are not the same company, in fact Yeti sued RTIC for patent and trademark infringement. Yeti was founded in 2006 and is owned primarily by New York private equity firm Cortec Group who has plans to take the company public in the near future. RTIC on the other hand is owned by twin brothers John and Jim Jacobsen and was founded in 2015.

Both companies were started by brothers (different brothers from separate families) but Yeti was started much earlier in 2006 and sold a majority of it’s ownership in 2012. RTIC didn’t start manufacturing coolers until 2015 but quickly became one of the top competing brands in the space by marketing their coolers as “half the price of Yeti but holds more ice”.

Since the law suit RTIC was forced to redesign their products and marketing. Their slogan is now “Overbuilt. Not Overpriced” and while slightly different their coolers still look remarkably like Yeti coolers in everything except the brand name.

I can understand why it’s common for people to think that RTIC and Yeti are the same company, after all they manufacture extremely similar products. It’s also not uncommon for an original brand to also create a second “cheaper” brand and sell the same product under a different brand name to a different segment of the market. It happens all the time.

But no, RTIC and Yeti are not the same company, they are owned by completely different companies and Yeti successfully sued RTIC in 2017 for patent as well as trademark infringements.

Are the owners of Yeti and RTIC brothers?

The owners of Yeti and RTIC are not brothers related to each other, nor are they related in any way. The confusion comes because Yeti was started by two brothers Ryan and Roy Seiders in 2006 in Austin, Texas and RTIC was also started by two different brothers John and Jim Jacobsen in 2015 in Cypress, Texas.

So both companies were started by two brothers in Texas, but they are different sets of brothers from completely different families with no relation to each other.

Yeti was started in 2006 and created the very first roto-moulded cooler. Then in 2015 RTIC was started and brought out an imitation cooler and marketed it as “half the price of a Yeti and holds more ice”.

The coolers, as well as a range of tumbler cups, were designed to look almost identical to Yeti but to be much more affordable. However, in 2017 RTIC was successfully sued by Yeti and forced to pay Yeti an undisclosed amount and also design their products. RTIC continues to operate but markets their products now as “Overbuilt. Not Overpriced”.

RTIC is still owned by it’s founding brothers (who happen to be twins). In 2012 Yeti sold a majority ownership stake to New York private equity firm Cortec Group who appears to currently be seeking to take the company public on the US stock exchange.

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What does RTIC stand for?

The RTIC in ‘RTIC Coolers’ doesn’t stand for anything but is a play on the word “Arctic”. So RTIC is not an acronym and the letters don’t actually stand for anything.

If I would try to think of something I would choose “Really Terrific Ice Chests” or something of the sort.

RTIC was started in 2015 by twin brothers in Cypress, Texas and they continue to sell a range of top of the line coolers and tumblers for a fraction of the price of other brands like Yeti.

Did RTIC owners work for Yeti?

RTIC owners John and Jim Jacobsen did not work for Yeti before starting up RTIC Coolers, now called RTIC Outdoors. Prior to starting RTIC they sold moving boxes (under the name Cheap, Cheap Moving Boxes) as well as a mattress in a box. This is where they developed their ability to process big and bulky items and ship them to you.

And lucky they did because RTIC coolers have been primary sold online through the websites as well as through Amazon since they started selling coolers back in 2015.

So no, the RTIC owners did not work for Yeti before going out to start a competing brand. They just saw an opportunity in the same to make a very similar cooler and sell it for a much cheaper price, saving consumers money while still delivering a premium cooler.

How come RTIC coolers are cheaper than Yeti?

There are a variety of reasons RTIC coolers are cheaper than Yeti. It’s true that Yeti’s prices are inflated just like any other premium brand (think Apple, Nike etc) but RTIC are able to offer better prices and still make a profit by going direct to consumer thus cutting out the middle man, as well as manufacturing overseas and relying on word of mouth to save costs.

Yeti spends a lot of money on marketing. They have “Yeti Ambassadors” who are community figure heads that likely receive payment for endorsing Yeti. They also spend money on advertising as well as creating mini-documentary style content using their ambassadors.

All of this marketing makes Yeti appear as a premium brand in the market and people are willing to pay more for a premium brand than for the same product that is unbranded.

This does not mean that RTIC coolers are worse quality than Yeti, they are actually amazing coolers manufactured to an extremely high standard and they receive constantly good reviews on Amazon, with a rating almost identical to that of Yeti coolers.

To summarize, RTIC coolers are able to offer a similar product as Yeti for a fraction of the price as they sell directly to consumers, manufacture overseas and save money on marketing by relying on social media and word of mouth to sell their products.

RTIC COOLERS