After 40 years of trailblazing in the consumer electronics industry, I wanted to talk to the Head Monster about the bold Monster 4.0 strategy, “Monster Smart Powered by Tuya” smart home products and…That Car!!!
Noel and Kevin at CES 2019
Maureen Jenson: You had a powerful CES 2019…how did you live up to your mantra of “Always Lead, Never Follow”.
Noel Lee: Yes. It was great to kick-off our 40th Anniversary at CES. We used CES to launch our new business Model M4.0 that will carry Monster into the next 40 years. With this new model, Monster will continue to do what we do best Innovate next generation products by having access to the best technologies, enter new product categories and bring products to market faster. This will enable us not only to create more groundbreaking products, but bring them to market more swiftly and efficiently on a global scale.
MJ: How does this model support your dealers?
NL: The M4.0 model helps dealers in many ways. We’ve been told by our channels worldwide they want more products from Monster in more categories, wider price points, and they want it faster and more affordable for their customers. M4.0 helps with those goals in a few ways.
We can now deliver a Monster quality product at more affordable price points because we’ve taken the cost out of doing business, like supply chain, AR, returns, etc. The model allows us to take the cost out of doing business without having to take the cost out of the product.
Second, we now have near unlimited amount of resources for development as we collaborate with our partners to bring as many new products in new product types that our retailers would like to see. Some products are 100% developed by Monster while others are a collaborative effort. We no longer have to prioritize our own finite set of time, people, and capital to bring new products to market.
While we just recently announced the new business model, we started implementing this with a set of partners and channels at the start of 2018 and we’ve seen the beginning of product-idea to product-shipping reduce from 12-18 months historically to now 3 – 6 months. And already in new categories of lighting, smart IoT, soundbars, and a few other new one’s we’ll announce shortly as soon as they hit stores.
MJ: What announcements at CES 2019 were you most proud of?
NL: Besides our new business model, we’re very proud about the launch of Monster Illuminessence, our new line of LED RF Mood lighting products. The products have been getting great reviews. We’re also very excited about our partnership with Tuya, the world’s leading AI+IoT (AIoT) platform, to co-create a new line of “Monster Smart Powered by Tuya” smart home products. We are gearing up for the launch of our first product with them..so stay tuned.
Next week we talk to Noel Lee about the most talked about vehicle at CES 2019: The Lamborghini Aventador Monster Performance Car! Part 2 here!