Beats by Dr. Dre are internationally known because of the number of celebrities that wear and promote them. Behind every big success story is an entrepreneur with a vision.
Record producer, rapper and entrepreneur Andre Romelle Young, also known by his stage name Dr. Dre, is the founder and CEO of Aftermath Entertainment and former co-founder of Death Row Records. Furthermore he and Jimmy Lovine are known for their successful company Beats Electronics. Dr. Dre has produced albums for big names in the music industry and has an estimated net worth of $550 million.
Jimmy Lovine is an American entrepreneur, record producer, and film producer from Brookyn, New York with Italian roots. He joined forces with Andre Romelle Young and founded Beats Electronics in 2006. He is also the co-founder of Interscope Records and chairman of Interscope Geffen A&M.
When Jimmy went running at the beach and coincidentally bumped into Dr. Dre, who he already knew well by that time, they had a conversation. Dr. Dre had been advised to start his own sneaker collection. After he had told Jimmy about this idea, Jimmy replied that no one would be interested in what he wears. “Let’s make speakers instead”, he said. Back in those days Apple had been launching and selling software combined with hardware and iPods were conquering the market.
Dr. Dre is a man with a big name. Famous artists like The D.O.C., Snoop Dogg, Eminem, Xzibit, 50 Cent, The Game etc. have worked with him. It’s not a secret that fans imitate their idols. Which means, If only a few of the stars promote the upcoming speakers, how many people will try to get them? Furthermore, if the design looks good and the audio quality is good too, the sells should hit the peak. Different products, like in-ear earphones and speakers, made the company even more famous. In 2013, Beats Electronic had 700 employees and a revenue of $1.5 billion. Later on, Apple bought the company for $3 billion.