We all remember the video. A woman approaches the empty husk of her car, completely destroyed by fire, and picks up her Stanley thermos still resting in its cupholder—the inside so well protected from the furnace that the ice cubes remain intact.
The viral TikTok felt like the high note in a blockbuster year for the drinkware company. In 2023, Stanley’s “Quencher” water bottles became the unlikely star of countless social media posts, teary Christmas mornings, college must-haves lists, and frenzied Target openings around the U.S. The thermos has spawned a secondary market for collectors, a universe of unofficial accessories, a few copycats, and maybe even a cultural backlash.
But the good times aren’t over yet, says Matt Navarro, who took over as president of Stanley 1913 four months ago. The 110-year-old company—formerly mostly associated with construction site thermoses and camping equipment—has not only survived the inferno of its viral fame among a younger, more female audience, it’s still in it, he explains. Navarro says the company has experienced four years of growth so far, and shows no signs of slowing down as the “hydration” industry category as a whole skyrockets across the board. An analyst from research firm Circana tells Fortune the water bottle market has doubled in size over roughly the past 12 months ending in July, and grown by 21% in 2024. Consumer behavior has also changed: People are buying several water bottles rather than just sticking to one.
That’s all good news for Stanley. “We’re focused on longevity over short-lived hype,” Navarro tells Fortune.
The company has also just come off two of the best online sales days in its history, Navarro adds, following smash hit launches for cup collaborations with fashion brand Love Shack Fancy and the pop star Olivia Rodrigo.
Still, Navarro is trying to prepare for the day when the $45 Quencher no longer defines Stanley and its bottom line. He’s eager to build on the momentum of the last few years—momentum that’s been attributed to his predecessor and marketing star Terence Reilly—partly by churning out new colors and collaborations, and going after what he believes is an underserved market for decent lunch boxes and food jars.
This interview has been edited for length and clarity.
According to a much-cited news report, Stanley went from $70 million in sales in 2020 to $750 million last year. Were those numbers accurate? And how do you keep that up?
Being a private company, we keep most numbers confidential, but here’s what I can tell you: We’re coming off our largest month in history. We’ve had four years of record-setting growth. We’ve also built a global business and a global brand that’s a leader in the category. Not only have we driven success for Stanley, but we’ve had a big impact on how large the hydration category is in North America and around the world.
You’re sold at retailers like Target and Urban Outfitters, and customers have developed elaborate strategies to snag new releases on your website before they sell out. Have you thought about opening shops?
In other parts of the world, we do have some owned retail. We have pop-up stores in Argentina, Korea, and Japan. And as we’re developing our long-range plan, we are certainly considering what Stanley retail could or should look like in the future.
You’ve talked about leaning into your original products. Are people still buying your old-school thermoses?
The original category is growing—it’s doubled from 2023 to 2024—that’s where lunch boxes sit, and vacuum-sealed bottles. So whether it’s going to work, or just getting outside, or just being on the go—yes, that is a use case that consumers are still connecting to.
We have this unique opportunity to connect with culture today but also lean into the history and heritage of the brand. You’ll start to see some collaborations in that category with athletes and entertainers that will start to show up for the brand here soon.
Are you seeing demand for food containers? Do you see this becoming a trend in offices?
It depends on the market. We certainly are trying to innovate and give people a useful solution. We frankly don’t believe there are many useful solutions to get your lunch to work today, so some of the innovation you’ll see from us in the next couple of years is in that category of mobility and storage, specifically food storage. And how we can help people or students in different markets, in particular, take their lunches with them on the go.
Stanley has received a lot of criticism for encouraging people to buy multiple versions of its water bottles to match their outfits, which is almost as bad as buying disposables. What are you doing about that?
Our “built for life” promise is really the core value of the brand and it always has been and always will be. In the past, that’s been connected most to our lifetime warranty. But what we’re shifting it to is ensuring that we’re building a better business life and world. So that’s rooting it in sustainability in a more sustainable, less disposable world. But also, as we grow, making sure that we’re elevating that commitment to sustainability and corporate responsibility, introducing recycling programs, ensuring that we are committed to recycling materials, and using an approach of value-led sourcing.
What is your biggest challenge leading Stanley? When you worry about the brand and its future, what do you worry about?
Ensuring that we are connecting with consumers in the right way and being part of their everyday lives. Culture moves fast and a big part of our magic has been being not only part of culture but, in many ways, creating culture over the last two to three years.
How do you do that?
What you’ve seen from us in color and product and hydration assortment has been second to none, but the Stanley Cross Bottle [which combines a flattened bottle with a carrying strap] may be the best example of ensuring we continue to be at the forefront of the category. The Cross Bottle came from a consumer who said people have a lot of stuff to carry: phone, keys, wallet, laptop, gym bag, shopping bags, and their Stanley. Sometimes there are not enough hands for it. The Cross Bottle is the embodiment of how we make people’s lives easier through smart design while still making it look cool and fashionable.
What do you think about all the accessories third-party companies have built for your water bottles? I’ve seen phone holders, mini-Quenchers, straw toppers…
We will be stepping even heavier into the accessory space, especially with straws. We want to give people what they’re asking for, which is colored straws, and straws that are more connected to their lifestyle, and even being a fashion item. Also, in our mobility and storage line, we have an incredible carry-all that is an accessory that your quencher fits in, and you can also wear it. It’s part of our “Wear your water” campaign.
Accessories will be a big focus for the brand. We understand that there are lots in the market, so we want to make sure that we give folks real, authentic Stanley items to accessorize with.
