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Monster, Tweeter Abruptly End 20-Year Relationship
Late Monday night, Monster Cable Products and Tweeter Home Entertainment Group announced the two companies would no longer be doing business together. After 20 years of Monster products on Tweeter shelves, the two companies have decided to terminate their business relationship.
According to a Monster release, company officials became increasingly concerned over Tweeter's financial stability and the "exposure of its four million dollar credit line."
After Monster announced a roll back of Tweeter's credit line, the retail store dropped all of Monster's products and replaced them with inventory from AudioQuest, Panamax and JL Audio.
"We believe that this separation is a huge loss between the two companies as Tweeter is one of most successful retailers under Monster's M4 program, and Monster is one of the most profitable vendors for Tweeter," says Noel Lee, founder of Monster Cable.
"This is a sad end to a long relationship. It was a true partnership between our two companies."
According to a Tweeter release last week, Monster's products were taken from the shelves because they did not measure up in comparison of quality, value, profitability, margin and customer satisfaction.
"Over the past year, we have been evaluating our existing vendor mix... By going through this process the merchandising team found a series of opportunities that we feel will be beneficial for our customers," Tweeter CEO Joe McGuire said. "As a result of these moves, we have made the difficult decision of removing Monster from our product mix. After many years of partnership, we certainly wish them only the best for the future."
Last year, Tweeter awarded Monster with a "Best Category and Development Award."
"I have to believe that the change was very emotional, especially considering the time of year," Lee said. "I only wish that we could have met to work things out."
Brent Huskins
Media Design
HTGuide Sponsor
Monster, Tweeter Abruptly End 20-Year Relationship
Late Monday night, Monster Cable Products and Tweeter Home Entertainment Group announced the two companies would no longer be doing business together. After 20 years of Monster products on Tweeter shelves, the two companies have decided to terminate their business relationship.
According to a Monster release, company officials became increasingly concerned over Tweeter's financial stability and the "exposure of its four million dollar credit line."
After Monster announced a roll back of Tweeter's credit line, the retail store dropped all of Monster's products and replaced them with inventory from AudioQuest, Panamax and JL Audio.
"We believe that this separation is a huge loss between the two companies as Tweeter is one of most successful retailers under Monster's M4 program, and Monster is one of the most profitable vendors for Tweeter," says Noel Lee, founder of Monster Cable.
"This is a sad end to a long relationship. It was a true partnership between our two companies."
According to a Tweeter release last week, Monster's products were taken from the shelves because they did not measure up in comparison of quality, value, profitability, margin and customer satisfaction.
"Over the past year, we have been evaluating our existing vendor mix... By going through this process the merchandising team found a series of opportunities that we feel will be beneficial for our customers," Tweeter CEO Joe McGuire said. "As a result of these moves, we have made the difficult decision of removing Monster from our product mix. After many years of partnership, we certainly wish them only the best for the future."
Last year, Tweeter awarded Monster with a "Best Category and Development Award."
"I have to believe that the change was very emotional, especially considering the time of year," Lee said. "I only wish that we could have met to work things out."
Brent Huskins
Media Design
HTGuide Sponsor
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