How Stanley Turned A 110-Year-Old Water Bottle Into A $750 Million Business
CNBC Make It
10 min, 41 sec
The video details the history and explosive growth of Stanley's Quencher water bottle, highlighting marketing strategies and collaborations that fueled its success.
Summary
- Stanley's Quencher water bottle became a global sensation, increasing company revenue from $70 million in 2019 to a projected $750 million in 2023.
- The Quencher's popularity soared due to strategic influencer marketing, new product features, and vibrant color options.
- Collaborations with celebrities and brands like Starbucks, coupled with social media virality, particularly on TikTok, contributed to its success.
- Despite the trendiness of the Quencher, Stanley's long history and diverse product range aim to sustain its growth beyond being a fleeting trend.
Chapter 1
Chapter 2
The segment outlines Stanley's history from 1913, the evolution of its product line, and the initial launch of the Quencher in 2016.
- Stanley, founded in 1913, patented the first steel vacuum-sealed bottle.
- The company traditionally targeted men, later diversifying its products with a flask in 2007 and barware in 2014.
- The Quencher was launched in 2016 but was not an immediate success.
Chapter 3
This chapter discusses the pivotal moment in 2020 when The Buy Guide and influencer marketing turned the Quencher into a viral sensation.
- The Buy Guide, a site run by mothers, helped the Quencher gain popularity.
- After influencer promotions, the Quencher went viral, leading to rapid sell-outs.
- Stanley's revenue grew to $70 million by the end of 2019.
Chapter 4
The narrative shifts to the strategic decisions made by new Global President Terence Reilly, who propelled the Quencher further.
- Terence Reilly's hiring in 2020 brought a fresh marketing perspective to Stanley.
- A focus on new colors and an affiliation with The Buy Guide increased the Quencher's appeal.
- Stanley ended 2020 with a revenue of $94 million.
Chapter 5
Stanley expanded the Quencher's color range and released new products, leading to increased sales and more collaborations.
- Stanley introduced new colors and maintained product scarcity to boost demand.
- Collaborations with brands and celebrities further elevated the Quencher's status.
- By the end of 2020, Stanley's revenue reached $194 million, with the Quencher as its bestseller.
Chapter 6
The video highlights the role of social media in making the Quencher a cultural phenomenon and discusses the associated risks.
- Social media, especially TikTok, has been instrumental in the Quencher's success.
- Stanley's 2021 revenue hit $194 million, and the Quencher dethroned the classic bottle as the top seller.
- The brand's dependence on social media also presents risks if platforms face legal challenges.
Chapter 7
The final chapter focuses on the Quencher's influence on Stanley's overall brand, its future prospects, and the loyal customer base it has cultivated.
- The Quencher has become a flagship product, with over 10 million sold since 2016.
- Stanley maintains its heritage while leveraging the Quencher's success to fuel future growth.
- Customers' attachment to the brand and the product's viral success signal a bright future for Stanley.
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