Revealing a new five-year gorwth plan at an Investor Day event Thursday at Yeti’s headquarters in Austin, Texeas, Matt Reintjes, chair, president and CEO, said the 20-year-old cooler and drinkware brand’s “next chapter” will focus on four priorities: building bags and soft coolers into a billion-dollar platform, reaching $1 billion in international sales, adding $1 billion in revenues, and adding $1 billion in free cash flow.

“Everything today connects to those four ideas, and today we intend to prove, not just show, but prove and describe how we get there,” said Reintjes. “Moving with more speed, more conviction, built on an incredibly strong foundation. It’s the path to building a larger, more capable, and more durable global company. A company with greater reach, expanding audiences, broader product platforms, a longer runway for growth, enhanced margins, steady free cash flow, and the ability to generate in a predictable way increasing value over time.”

Reintjes noted that while Yeti, like many outdoor brands, saw strong sales in the early stages of the pandemic, the company also recognized it“missed some moments to invest more deeply, more aggressively, for the future. The opportunity to react fast. So, we learned from that.”

Under the theme “Built for the Wild: Field-Tested. Made for More,” Reintjes and Yeti’s management team at the four-hour event outlined four growth engines to its 2030 targets:

  • Build on a strong foundation and extend the brand: Deepen Yeti’s relevance in the communities it serves while earning a place in more moments, with more consumers and across more geographies.
  • Accelerate Innovation: Apply a repeatable innovation engine to expand product families across Gear & Equipment, Home & Hydration, and Bags & Soft Coolers, with Bags & Soft Coolers becoming Yeti’s next billion-dollar platform.
  • Power US commercialization: Put the right product in the right place with the right story through sharper consumer vertical strategies, complementary channel expansion, and a more disciplined end-to-end go-to-market process.
  • Scale globally: Repeat a proven playbook that builds credibility, activates locally and scales through wholesale, direct-to-consumer and marketplace channels, positioning Yeti to generate a billion dollars of International sales.

At the event, Yeti provided a five-year growth plan through 2030 that called for annual net sales growth to increase in the mid-single-digit to high-single-digit range; annual adjusted operating income growth in the high-single-digit to low-double-digit range; annual adjusted EPS growth to climb in the low-double-digit to high-teens; and cumulative free cash flow (5-year period ending Fiscal 2030) to reach between $1.2 billion to $1.4 billion.

Underlying growth drivers include:

  • Drinkware sales are expected to reach $1.5 billion by 2030, up from $1.1 billion in 2025, representing mid-single-digit growth. Drinkware is expected to expand low-single digits in the U.S. Drinkware sales have more than doubled from $425 million in 2018, when Yeti went public. Yeti said it owns about 2 percent of premium drinkware’s total addressable global market of $50 billion.
  • Coolers and equipment sales are expected to expand from $360 million in 2025 to up to $600 million by 2030, representing a low double-digit growth annual growth rate over the next five years and more than double the 5 percent pace of the overall global category. Yeti said it holds about a 2 percent global share in the category.
  • Bags and soft coolers have grown from $130 million in 2018 to $390 million, representing a 17 percent CAGR (compound annual growth rate). The category is expected to nearly double in sales by 2030, with bags and soft coolers growing roughly equally, landing close to a 50/50 split by the end of the decade. A third of the growth is projected to come from international markets.
  • Sales in the U.S. are expected to continue to expand at low to mid-single digits to reach $2.0 billion by 2030. Mid-single-digit wholesale growth is expected in the U.S. with the benefit of improved inventory turns, more shelf space and new doors. U.S. sales have doubled to $1.5 billion from $760 million in 2018.
  • International sales have grown from approximately $20 million in 2018 to $390 million in 2025 and are expected to reach $1 billion by 2030. Overall, international sales are expected to represent 35 percent of revenues in 2030, up from 21 percent in 2025.
  • In EMEA, sales are expected to expand from $80 million currently to $350 million by 2030, a mid-30s CAGR. In APAC, sales are projected to more than double, from $150 million to $300 million by 2030, representing a low-20s CAGR.

The sales target marks an acceleration in growth after Yeti saw sales increase only 2 percent in 2025, reflecting cautious dealer ordering, supply chain disruption as drinkware production shifted out of China to avoid tariffs, and heightened competition in the drinkware space from brands including Stanley and Owala. Earnings on an adjusted basis declined 9 percent in 2025.

CEO Commentary
In his prepared remarks, Reintjes provided a deep dive into the “four engines” expected to drive results over the next five years.

Regarding the first pillar around extending the brand, Reintjes said Yeti benefits from turning customers into brand advocates.

“Good brands have customers. Great brands turn ownership into advocacy,” he said. “That’s what we do. From stickers on trucks to tattoos to wedding cakes, Yeti does more than live on shelves. It lives inside communities and it shows up in meaningful moments. People don’t just buy our product; they carry the brand forward. That’s why we say we’re grown by communities fueled by commitment.”

Although Yeti’s official motto and tagline is “Built for the Wild,” Reintjes notes that “one of our truths is we don’t define people’s wild,” and that enables the brand to connect with a wide range of consumers.

“People define it themselves,” said Reintjes. “Your ‘wild’ might be a duck line. It might be a weekend soccer tournament, an early morning surf session, a job site, a tailgate, a fishing boat, a commute to work. We’re earning our place in more moments, more often, with more people. It’s incredibly powerful done right, but it’s also easy to get wrong.”

It’s also enabled the brand to stay relevant despite continually getting bigger.

“Most brands eventually face a choice: they scale and they lose what made them special, or they stay rooted and they fail to grow,” said Reintjes. “What we’ve done over 20 years, and what we’re going to do going forward, is we’re going to do both: preserving depth while expanding breadth.”

He added, “We earn relevance by speaking the language of our customers, showing up where it matters to them, connecting with the people they respect and value – it’s how this brand was built, and it’s how we believe it should keep growing. It’s not random; it’s deliberate. That matters because as we enter new spaces, it’s not a push; it’s a pull from the community by the active, deliberate choices we make.”

He believes Yeti’s longstanding community focus also gives the brand “permission to enter new moments, permission to build new product platforms, permission to broaden the brand without turning the brand into something average. but that permission has to be earned, and it has to be protected. I think about that every day. Every decision we make is either a deposit into the brand or a withdrawal from it. As you scale, you’re doing a little bit of both.”

Around innovation, Reintjes said growth doesn’t just come from new categories but from finding untapped opportunties within existing categories. Said Reintjes, “Our home and hydration and gear and equipment platforms remain durable growth engines in their own right, not just a base to build from. We expect them to be drivers of growth, customer acquisition, and brand expansion. When coupled with soft colors and bags, we see the opportunity clearly.”

Providing an update on Yeti’s three product category platforms, he noted that drinkware, known internally as home & hydration, represents about 60 percent of Yeti’s sales and is “proving itself a durable and scalable global growth platform.” He added, “We’ve been clear about the headwind and drag on growth in 2026, but it’s been more than offset by the global diversification and innovation across the rest of the platform.”

He cited the strength in stackables and the opportunity Yeti sees in the brand’s promising entry into food storage and cookware. Said Reintjes, “The products driving the headwind will largely lap by year end, resetting the base heading into 2027. Underneath the noise, the platform’s healthy and expanding, and the partners who’ve embraced our expanded portfolio are seeing the benefits.”

In cookware, he highlighted that Yeti has seen a “strong” early response to carbon steel pans. He added, “Cast iron is a natural anchor in the platform. It’s very Yeti. The next large and attractive market expansion is enameled cast iron, continuing the theme of live fire, outdoor to indoor, translating the Yeti philosophy and product trust to people who take cooking as seriously as we take everything else, in the backyard, the campsite, the kitchen.”

Reintjes said the coolers & equipment category continues to benefit from “meaningful innovation,” citing strong demand for personal-sized roadie hard coolers and the recently expanded GoBox family of protective cases.

Finally, with bags and soft coolers, Reintjes said Yeti is being “aggressive” on seizing the opportunity. Said Reintjes, “The reason we believe this has become a meaningful platform for Yeti is because we already have the assets required to win, the credibility in thermal performance, the authority and durability in design, a brand that moves without asking the consumer to make a leap. We’re already being pulled into adjacent use cases: travel, work, sport, everyday routines – it’s not a stretch; it’s a continuation.”

He noted that the bags and soft coolers have tripled in size since 2018. Said Reintjes, “From our earliest Panga submersible duffels, which we made simply, frankly, because we could, to the latest day trip Crossroads and Paolo backpacks, this product platform is scaling fast. The strategic point is simple: we’re not chasing growth by stretching the brand. We’re building growth by applying the brand where we’ve earned the right to compete.”

In other categories, he talked up the opportunity for Yeti branded apparel, with success already coming in hats, tees, hoodies and sun shirts.

“The expansion potential is meaningful, but the bigger opportunity, long term, is technical performance apparel, applying the same durability, the same field-tested standards, the same design rigor we bring to everything else we make,” said Reintjes. “It’s a large, fragmented global category open to innovation and with space for Yeti to lead – doing apparel our way.”

He said Yeti in a few weeks will release its a limited release of insulated outer layers available at select wholesale distribution and select Yeti flagship stores. Reintjes said, “We’re going to learn and we’re going to scale into it. Most importantly, we’ll be showcasing the capabilities and the talent that we’ve acquired over the last couple of years. The design and materials expertise we have gathered is outstanding.”

He said commercializing the U.S. opportunity is “one of the most underappreciated opportunities” at Yeti. Those efforts are allowing Yeti to come out with more product today than at any time in its 20-year history and part of the growth opportunity is getting the word out on the new product. Said Reintjes, “It’s the gap between what we’ve built and what our consumers realize we have, and that gap is real growth and real unmet demand. It relies on getting the right product in front of the right consumer in the right channel at the right time. It’s there, and we’re going after it.”

Commercialization is also about channel optimization. Reintjes noted that Yeti, more so than many other outdoor brands, is able to sell in a wide range of areas, ranging from fly fishing shops to hardware stores, surf shops, home goods stores, national and specialty retail, Amazon, Yeti.com, B2B, and its own stores. Said Reintjes, “What our commercialization work is about is not simply launching products, but scaling them, extending them, matching them to consumer occasions, giving each channel a clear role.”

Finally, international remains a “massive opportunity,” having grown from 2 percent of sales in 2018 to over 20 percent today. Said Reintjes, “Every primary market we’ve entered has scaled faster than the one before. Canada, then Australia, then Europe. Each one built on the learning, the infrastructure, and the brand assets from the previous market, increasing speed of execution and building confidence in a repeatable playbook. And much like how we build communities, we’re being pulled into markets. Our brand, our ambassadors, our partners, our social media have made demand and, frankly, desire more visible.”

The faster earnings growth rate than sales over the next five years represents the benefits of Project Upcycle, Yeti’s productivity initiative that has identified approximately $100 million of productivity opportunity across cost of goods sold and operating expenses to help fund growth investments, offset mix pressures, and support sustainable margin expansion. The stronger EPS growth also reflects expected investments in share repurchases.

Yeti also intends to maintain balance-sheet flexibility and selectively pursue tuck-in acquisitions that add capability or speed.

Fiscal 2026 Outlook Reiterated

Yeti reiterated its Fiscal 2026 outlook most recently provided on August 13:

Image courtesy Yeti