Like some other media, we incorrectly reported in the last issue that Hydro Flask's sales went up by “only” 22 percent in the first quarter of this year. To be precise, the company's new owners, Helen of Troy, said that Hydro Flask's growth in the first quarter was 22 percent higher than previously projected.
Its former owners, who sold the company for more than $200 million, will not get an earnout from this performance, a manager of the company said. He declined to spell out it actual growth rate but showed figures from an American market research company that showed an 183 percent increase to $13.2 million in the sell-out of Hydro Flask's bottles in the U.S. for the first five months of 2016.
With a 24.3 percent share of the market for bottles used in outdoor activities, Hydro Flask became the largest player in the market after Camelbak and a new entrant, Yeti. Retail sales of Camelbak bottles fell by 26 percent to $12.1 million. Led by its new tumbler, which is largely used also while watching team sports matches, Yeti's sales in the category reached $8.1 million.
Camelbak is fighting back with a new tumbler with two openings, a small one for coffee and a bigger one for a cool drink. At the OutDoor show in Friedrichshafen last week, the company introduced a limited edition of the tumbler on which the customer could get his or her name engraved in return for a small contribution to the European Outdoor Conservation Association (Eoca). The line was quickly sold out.