In this episode of Hidden Value Creation, I had the pleasure of speaking with Peter Benedict from Baird, an expert on Yeti, the high-performance outdoor brand known for its quality and authenticity. We discussed Yeti's journey from its inception in 2006, when it launched with a superior cooler for outdoor enthusiasts, to its remarkable growth since going public in 2018. Peter highlighted how Yeti's brand story and commitment to quality have built a loyal community, reflected in its high net promoter scores that even surpass brands like Apple and Patagonia. We examined Yeti's impressive gross margins, bolstered by direct-to-consumer sales, a strong product mix, and operational efficiencies, and how CEO Matt Reinsch and his team have strategically protected the brand through quality control and proactive inventory management. Peter also shared insights into Yeti's international growth potential and its data-driven approach to product innovation, customer engagement, and acquisitions. This episode provides a deep dive into Yeti's business model, brand strength, and operational excellence, and I hope you enjoy this insightful discussion as much as I did!