Entrepreneur in Residence: Lessons from Atyab Al-Marshoud’s Global Journey

The College of Business and Economics (CBE) at AUK hosted Mr. Marshoud Al-Marshoud, the Executive Manager of Atyab Al Marshoud, a multi-generation family business, for a talk as part of the Entrepreneur in Residence Series. The late Sulaiman Al-Marshoud, founded Atyab Al Marshoud in Kuwait in 1925, as the first fragrance company to be established in the Gulf. 
 
His legacy has been carried on by his family over the decades, with the younger generation of the family successfully adding a modern edge to its frangrances, without losing the historic and traditional aspects of the business. The company opened its first international store in Knightsbridge, London and over the last 10 years, the company has expanded to over 86 branches across the globe. 
 
Mr. Marshoud Al-Marshoud discussed the perfume industry and anecdotes related to his international expansion efforts. He also discussed key factors that resulted in the success of the company and gave advice to students about starting and running their own businesses.
 
Mr. Al-Marshoud also stressed that failure in business should not be taken as an insult to one’s character. He shared that most successful people have failed more often than they have succeeded. He encouraged students to view failure as a natural part of the journey and to not to let setbacks hinder personal growth.
 
His main advice was for aspiring entrepreneurs to start with one product. “Bring in a large quantity, sell it, and build from there. This approach is simple, cost-effective, and allows for easy marketing. The product doesn't necessarily need to be your personal preference; instead, focus on what the market needs. Starting with a single, focused product helps keep costs low and provides a clear path to profit.”
 
Mr. Al-Marshoud advised that when building a business, it's important to avoid focusing on competitors, as this can be detrimental. "If you follow them, you will drown," he warned. Instead, he recommended studying competitors for research and development, not for sales strategies. He concluded that maintaining stability and continuity in the market is one of the most challenging aspects of running a successful business.
 
Mr. Al-Marshoud, along with his father, are committed to expanding their company’s charitable initiatives. Recognizing the blessings of their success, Mr. Al-Marshoud aims to place philanthropy at the core of the company’s mission, striving to make a lasting impact on the Kuwaiti society and beyond.
 
The Entrepreneur in Residence series aims to invite local entrepreneurs to share their experiences and business acumen with students and to foster stronger ties with the Kuwaiti business world.
   
   

Mr. Marshoud Al-Marshoud speaking at the Entrepreneur in Residence Series
   

General Photo of the audience
   

Group photo of the attendees with the speaker
  

Mr. Marshoud receiving a certificate of appreciation from Dr. Salime Smadi, professor of organizational behavior at AUK, and founder of the series