Stetson cowboy hats are an iconic American accessory. The popular Skyline style will cost you $245, while other premium varieties can set you back $5,000. Over the years, famous figures like President Ronald Reagan and Beyonce have worn Stetsons, further solidifying the brand’s image as the premier American cowboy hat. It’s one of the few hat brands that have reached icon status. So what made Stetson so iconic? And is that why these hats are so expensive?