Case Study: Stanley Drinkware
The Stanley Quencher.
A massive mug in an ever-growing rainbow of colors and finishes, priced around $40. It appeared from nowhere and now they’re everywhere. In just four years, the company jumped from $73 million to $750 million in revenue.
But is the Stanley tumbler just a fleeting trend or does it have staying power? Let’s peek into their meteoric rise and get curious about the staying power of their strategy.
Innovative origins.
Founded in 1913 by William Stanley Jr., the Stanley company revolutionized the beverage container industry with the invention of the all-steel, double-wall vacuum bottle. This innovation marked the beginning of Stanley's 110-year-long journey in creating durable, insulated containers.
For most of its long history, Stanley has been a favorite of outdoor enthusiasts and blue-collar workers. Many of their loyal customers still use the first Stanley product they ever bought.
New leadership, new direction.
Then in 2020, visionary CEO Terence Reilly joined the Stanley company coming fresh from seven years at Crocs where he transformed the once-criticized footwear into a fashionable must-have.
Reilly discovered a women's e-comm blog in Utah who were big Stanley fans and had been championing the Quencher since 2017. The founders of the blog made a risky move (wholesale ordered 5,000 Quencher mugs) and were rewarded with rapid sell-outs.
Reilly noted from his experience at Crocs that “this kind of influencer opportunity was just the magic that Stanley might need.” In a series of savvy moves, Reilly shifted Stanley from being seen as a camping brand to something more aligned with streetwear culture that catered to a new demographic: women. The company developed new color lines for the tumbler and took advantage of the power of influencer marketing.
An interbellum-gen brand goes viral.
The rest happened fast…
The Quencher gained popularity through influencers and collabs.
New color launches and partnerships created collectible appeal.
A limited stock fueled demand through scarcity.
The product became a viral success. Stanley’s revenue jumped from $73 million to more than $750 million over the course of four short years.
Trouble ahead?
I started researching Stanley because I saw savvy tactics but no deep-rooted strategy. Don’t get me wrong, Reilly’s moves are beyond successful—he’s the guy who added more than a billion in sales over four years … not me.
Already there are signals of the Quencher’s fade…
Trend experts believe the obsession is dying.
The brand is becoming synonymous with modern overconsumption.
What’s the strategy?
So how will Stanley add value to the marketplace in ways others cannot match? New models, colors, and features won’t drive growth once popular culture gets bored and looks for something new.
I’d love a peek inside Reilly’s head, but here are the questions rolling inside mine…
What happens when product abundance undermines their scarcity tactics?
Is the "new" Stanley rooted in an idea that can carry them beyond viral success?
If Stanley continues to chase success through trends and virality, how long before the 110-year company is unrecognizable from its original DNA?
How much brand equity has Stanley lost by pivoting toward the trend-obsessed lifestyle/fashion market and away from its core?
What’s your take? Do you see a strategic angle I’m missing?
The Stanley water bottle craze (further) unpacked.
Phil Edwards explores a concept dubbed ‘conspicuous consumption’ and drop-culture on the journey to further understand the Stanley crazy.
