How Stanley become a $750 million company annually
With its bottles and thermoses that maintained food and beverages hot or cold for extended periods of time, the drinkware manufacturer had established a niche for itself among the lunchboxes of blue-collar workers and the knapsacks of outdoor enthusiasts.
With its well-known hammertone green products bringing in a comfortable $70 million annually, the Seattle-based firm appeared well-positioned for another century of steady, modest success.
However, something changed in 2020. When a nascent product gained traction, Stanley became an industry titan.
The Stanley Quencher has grown to be one of the most well-known water bottles worldwide throughout the last four years. The Quencher, which is available in an ever-expanding range of hues and finishes, has increased sales for Stanley by attracting women, a market that Stanley didn’t devote much attention to serving in its first 100 years of existence.
The Quencher has been so well-liked by teachers, nurses, and celebrities that Stanley’s yearly sales are expected to surpass $750 million in 2023.
On New Year’s Eve, Stanley and Target released a limited-edition color of their wildly famous cups, which quickly sold out in shops all over the country. The original $45 tumbler is going for upwards of $100 to $200 on eBay due to the great demand for the prized reusable water bottle.
Terence Reilly, an executive at Crocs, left the shoe firm in 2020 to take a position as president at Stanley. He quickly used influencer marketing and social media to increase sales of the new line, which that year became the best-selling bottle.
Stanley was obviously onto something in the first 110 years of the Quencher, even though the embracing of colors favored by its new, female audience played a major role in the film’s success.
