YETI: Ron and Ryan Seiders. How Two Brothers Turned a $400 Cooler Into a $2 Billion Brand

In this episode of How I Built This, Guy Raz features Roy and Ryan Cedars, the brothers behind Yeti, a now-iconic cooler brand. Their entrepreneurial journey began with a desire to create durable coolers that met the needs of serious outdoor enthusiasts. The brothers were frustrated with existing products and saw an opportunity to fill a gap in the market.

The Cedars’ path to success wasn’t straightforward; they initially relied on a manufacturer in Thailand that faced challenges after the tragic death of their partner, Ivan, which led to the factory's closure. This prompted a re-evaluation of their production strategy, and they started seeking U.S.-based manufacturers for their coolers. They raised prices to maximize their cash flow during this transitional phase, only to discover increasing demand for their products.

Innovative marketing, including viral videos that showcased the durability of their coolers, such as a bear trying—and failing—to open a Yeti cooler, helped drive their brand's recognition. By 2013, Yeti had achieved significant sales milestones, prompting the brothers to bring in a private equity group to help guide future growth while allowing them to take some financial security from their venture. Ultimately, Yeti's thoughtful growth strategy, focus on quality, and a bit of luck led to the brand becoming a household name in outdoor and lifestyle products.