It's been a tough couple of years for Monster.
The audio cable company was in a coveted position as the decade began after launching what became the hottest headphones on the market, Beats by Dre. The audio devices had hip-hop/production legend Dr. Dre as a namesake and soon became synonymous with headphone chic. Celebrities like LeBron James, Diddy, Lady Gaga and Justin Bieber launched their own signature Beats by Dre lines, and a host of other performers, athletes and entertainers became unofficial representatives as the most famous faces on the planet sported Beats on their ears.
But Beats Electronics ended its partnership with Monster last year. Even though Beats is still superhot, Monster CEO Noel Lee believes his San Francisco-based company has the proper pieces in place to regain its mojo.
"It left us having to reinvent ourselves, and that's what we are going to do," said self-proclaimed "Head Monster" Lee.
Monster is pushing out headphones, tablets, slim battery power adapters and portable DJ turntable mixers. The company is also tapping stars like Shaquille O'Neal, Nick Cannon, Jason Aldean, Meek Mill and Drew Brees as its pitchmen.
Lee, who often rides a gold-plated Segway because of a neurodegenerative disease, is seen as an eccentric champion of the privately owned Monster. A confident individual, he takes a lot of the credit for the stylish Beats by Dre headphones. He said the key contribution of Beats Electronics, founded Dr. Dre and Interscope Records chairman Jimmy Iovine, was marketing (though he allows that Robert Bruner, chief designer at Beats, did the industrial design).
"People have to realize that them was us," Lee said. "Monster did that. Beats supplied the marketing. We supplied all the distribution, all the technology, all the engineering that went into the product. What we didn't have was the marketing clout before."
Now, Lee says he does with music producer Swizz Beatz, who purchased a co-ownership stake in the company this year. But don't expect Swizz Beatz to follow in the footsteps of Dr. Dre and release his own line anytime soon. His focus has been to make the Monster brand appealing to consumers in the same way he helped in Reebok's return to relevance.
"I'm here to show the world who we are," said Swizz Beatz, who has appeared in a commercial with A$AP Rocky to promote Monster's DNA headphones. "There are so many being powered and plugged by Monster, but hardly anyone knows that. It's all about getting back to the roots and showing people what we're all about."
After Swizz Beatz was brought into the fold, he persuaded retired basketball champion O'Neal to be part of the Monster team. It was an easy decision for O'Neal, who still has strong marketing power.
"People ask me all the time, `How do you pick a partner?'" O'Neal said. "It's simple. I've got to believe in the product. I believe in this. For me, it's never about money starting off. I learned a long time ago, when you invest your money, time and it's something you believe in, it will hit in the long run. Monster is proven."