The California-based firm’s shares will start trading under its new name and stock ticker symbol, ‘MNST’ on Monday January 9, 2012.
Speaking to investors and shareholders last month, chief executive Rodney Sacks said: “More than 90% of the business today is represented by the Monster brand so it seems that the time has come to change our name.”
Innovative, cutting edge, premium and cool?
The energy drinks category continued to grow strongly, he added: “The days of energy drinks being a niche category are long gone. Energy drinks are the soft drinks of many generations ago. They are innovative, cutting edge, cool and premium.”
However, the category still garnered a lot of bad press, unfairly, he claimed. “There are still a lot of misconceptions, ignorance and guessing about the energy drinks category.”
Citing Nielsen data that showed the US energy drinks category had grown 14.9% in the 13 weeks to November 19, 2011 in all channels excluding Walmart, he said Monster continued to lead the pack in growth terms, with sales rising 22.1% over the same period.
Innovation and Uber Monster
A flurry of new products is set to launch this year, revealed Sacks, who urged his audience to try Uber Monster, a new “ultra-premium, nonalcoholic, brewed energy drink, crafted with a fermented malt base… in 16.9-ounce glass bottles with a crown closure”.
He added: “It’s almost like Monster Champagne, but it’s not alcoholic. We believe that this is something that can compete at the upper end of the category.”
Uber Monster is the latest in a wave of new launches from Hansen, which has just introduced three new variants of non-carbonated energy drink Monster Rehab and the ‘super-concentrated’ energy drink Monster M3, which were all introducing new consumers to the category, said Sacks.
”We are quite encouraged by this little product (M3). It bridges the gap between shots and drinks and we’re already seeing some really nice repeat purchases and sales.”
Monster outperforms rest of energy drinks category, closes gap on Red Bull in convenience channel
Hansen, which posted a 23.9% rise in net income to $82.4m on sales up 24.4% to $474.7m in the third quarter, was outperforming the overall energy drinks category with its Monster products, added Sacks.
For the nine-months ended September 30, 2011, net income was up $36.1% to $221.7m, while net sales were up 31.3% to $1.293bn at the firm, which sells a wide range of beverages including juices, Monster energy drinks, Peace Tea iced teas, Worx Energy shots, Vidration vitamin enhanced waters and Hubert's lemonades.