Founding Murad in 1989, Dr. Murad began bringing innovative formulas and revolutionary new ingredients to people beyond his practice and outside of spas. He believed the anti-aging power of his formulas would speak to the marketplace, and his real success came after the 1994 launch of a second infomercial. Before he knew it, Dr. Murad was selling products as fast as he could make them.
Today, Murad is a multichannel business with retail and professional sales channels every bit as robust as direct sales. It has a presence in more than 35 countries around the world, and it just opened its first flagship store in Los Angeles. Murad products are also available at Murad.com, and Murad continues to be a leader in television infomercials.
“We are continuing to do in-depth research and ongoing innovation to ensure that we are developing the most effective products to stay true to our legacy to help our customers look better, live better and feel better,” General Manager Richard Murad explains.
Murad’s longevity in the industry allows the company to understand that being consumer-centric is key. It always puts the customer first and listens for and welcomes feedback. Murad looks to treat its customers inclusively instead of just topically, even though topical products are what it is most well known for.
“We strive to make the lives of our customers better, and we are authentic,” Richard Murad says. “We put a strong emphasis on new product development, and our team does a great job of staying on top of the latest technologies from an ingredient standpoint.”
Murad has established meaningful and long-lasting relationships with suppliers, and it invests in and takes the time to closely monitor each ingredient that goes into a formula. Murad’s packaging is another key part of its identity. The company has established simple, functional and stylish designs. It always takes account of ease of use when choosing packaging.
“By understanding our consumers, we know that people are busy and have little time to spare,” Dr. Murad says. “We develop products that are easy to incorporate into morning and night routines, without compromising on the performance.”
The company is well aware of key trends that seem to be impacting its customer base. The first is communication technology and social media. Murad spends a lot of time serving its customers and ensuring that it is providing expert information that will benefit them.
“We have put a significant emphasis on our social media community,” Richard Murad says. “Building a community for our customers has been a huge focus of ours.”
The company also works to appeal to different types of consumers around the world and understands that consumers are looking for customization. It does not take a one-size-fits-all approach, focusing instead on individualization and personalization.
“As a multichannel brand, it’s important to deliver a consistent message across all channels and give our customers the tools they need to make decisions about what to buy,” Richard Murad says.
In the past few years, Murad’s investments have focused on reinforcing its commitment to being a consumer-centric organization that wants to lead in the prestige skincare market. It has adopted a new go-to-market strategy that focuses on the consumer with relevant messaging and media that demonstrates an understanding and appreciation of its consumers’ lifestyles, drives brand awareness and reinforces the brand’s prestige.
The opening of the flagship store in Los Angeles is another important undertaking. The 1,200-square-foot store is designed to offer a retail experience that helps customers find the products they need and supports the inclusive health philosophy that supports the brand. The store includes a complimentary express service, YouthCam consultation and an interactive art wall.
“The store is meant to be a place to empower people to not only look better through topical care, but to live better through proper nutrition and supplements, and feel better through emotional self-care and stress management,” Dr. Murad says. “Additionally, the store will serve as a laboratory for us, which we hope will help us learn more about our customers and help us become better retailers so we can better support our retail partners.”
In addition, international growth has been a focus for the company. Murad recently acquired a U.K. distributor as its European hub.
Another recent investment involved moving into a new corporate office, a 45,000-square-foot global headquarters in El Segundo, Calif. It features state-of-the-art facilities, including ample workspaces and meeting areas to ensure optimal working conditions for corporate employees.
With a strong brand, an effective omni-channel strategy, and a new flagship store, Murad is well positioned for the future. The company will continue to strive to achieve its priorities in the coming years.
“One of our biggest challenges will be maintaining our brand heritage while expanding and growing rapidly,” Richard Murad says. “We’ve stayed true to the brand’s philosophy and our passion for inclusive health. We continue our commitment by ensuring that our customers come first.”