Retail Merchandiser - November/December 2017 - 25
"We can play in every major category," he says. "This is
really an acquisition play for us that we've already seen start
to take place."
Monoprice's suppliers also play a critical role in its success.
"We maintain a very strong network of suppliers
throughout the world with a focus on the Asian market,"
Luthi says. "We spend a lot of time in our offices domestically and our offices overseas. With our new ownership,
we are in constant and consistent contact with everyone we
Monoprice has more than 200 employees, with purchasing and product and development teams in the United
States and Asia. "We maintain a very strong, unique, and
in many cases exclusive relationships with our suppliers,"
For us, it's about technology at prices that
make sense and finding ways to tackle new
He adds these longstanding relationships have been
a key strength and differentiator for Monoprice. "They
have enabled us to drive down the price of the product
that comes to the United States because of our excellent
sourcing," Luthi explains.
"Anyone can attempt to source strong product, but if
you don't understand the market you'll end up with inferior product and pay too much for it," he continues. "Our
level of expertise in sourcing comes from not only the U.S.
part of our organization, but also the fact that we're owned
by a manufacturer."
Luthi notes that YFC - BonEagle, Monoprice's parent
company, has a long history of product manufacturing in
Taiwan and China, which provides it with unparalleled
insight that its competitors do not have.
"We have strong end-to-end supply chain solutions
and great manufacturing relationships because we are one
with the manufacturer through our ownership," Luthi says.
"We are able to bring products into the U.S. and ensure it
is high quality and affordable. Additionally, we then have
capabilities through our own logistics engine to get the
products in the hands of customers very quickly."
Monoprice is the No. 1 3D printer brand
in the world.
Making It Happen
Although Monoprice is seeing significant success under
Luthi's leadership, he believes the company was already
great when he joined in 2014, adding that he's most proud
that Monoprice was able to successfully navigate its transition considering obstacles in the competitive landscape.
"The environment for commodity-based consumer electronics was undergoing a dramatic change in 2013," Luthi
says. "We were able to take a really good opportunity and
turn it into a business that is growing in the double digits."
Luthi claims one key pillar of the company's success is
having the talent with the right skills, and creating strong
executive management and support teams.
"If you look at the business today, the level of capabilities
and focus within the employee base has really improved,"
he says. "We have a great group of employees. I think that's
really the strength of our company.
"Our people work together, work hard and all have a
vested interest in seeing the success of this business," Luthi
continues. "Ultimately, our core is solid. We just needed to
further build around it."
He explains that Monoprice is seeing the results of its
efforts now in 2017, one of the strongest years for the
"We have the right owner that not only supports the
business, but also understands what we are doing because
it is in the industry," Luthi concludes. "We are definitely a company on the rise. For us, it's about technology
at prices that make sense and finding ways that we can
tackle new categories to give our customers what they
need, affordably, and without sacrificing quality. We have
the business headed in the right direction; the goal now is
global domination." O