Murad, Inc. announced that it has completed the acquisition of its long-term distribution partner in the United Kingdom. The acquisition provides Murad with an opportunity to directly manage its rapidly growing business in prestige and professional channels in the U.K., and is a strategic foothold for its planned expansion of existing operations in Europe.
“When we began in 1989, our most intense efforts were focused on opportunities to expand our sales close to home, with North America as the major market for high-performance skin care products," said Richard Murad, global general manager, Murad, Inc. “While we have a presence in more than 40 markets worldwide, with the acquisition of a U.K. distributor as our European hub and the planned acquisition of a Hong Kong distributor who can provide us with a robust presence in Asia, we are making a major strategic investment that will dramatically expand our ability to reach consumers.”
All 60 employees currently working for the distributor will become Murad employees.
In addition to this acquisition, Murad will be increasing its overall investment in the U.K. to fund strategic expansion in established prestige retail channels, which include John Lewis, Debenhams, House of Fraser, Urban Retreat at Harrods, murad.co.uk and select professional doors. In 2013 and 2014, Murad began rolling out its shop-within-a-shop model in the U.K. These Murad environments are the full expression of the Murad concept, states the company, leveraging Murad’s doctor-brand heritage with a service model that utilizes proprietary diagnostic software that emulates a virtual consultation with its namesake doctor. With eight doors at present, Murad is targeting an additional 10 locations by the close of 2015.