Retail News CRM

Tag: pharmacity

  • Vietnam’s Pharmacity eyes 1000 stores by end of 2021

    Vietnam’s Pharmacity eyes 1000 stores by end of 2021

    Vietnam’s largest pharmacy retailer Pharmacity has raised VND730 billion (US$31.8 million) in a fresh funding round as it ramps up its expansion plans.

    According to a statement, the new funding will be used for further store network expansion. However, the identity of the investors was not revealed.

    Pharmacity, which previously has received backing from Mekong Capital, aims to open 350 new stores this year and reach 1000 stores by the end of next year.

    The company is targeting more than VND3 trillion (US$130 million) in revenue.

    Last year, Pharmacity achieved revenue growth of 129 percent year on year, it said in a statement.

    Prior to the latest funding round, Pharmacity had successfully raised VND150 billion (US$6.44 million).

    Lees ook:

    Lees ook:

  • Indonesia’s Kimia Farma eyes Growth into Vietnam

    Indonesia’s Kimia Farma eyes Growth into Vietnam

    Indonesian state-owned pharmaceuticals firm Kimia Farma is considering expanding into Vietnam by acquiring a local company. The firm recently invested US$10.26 million in a Saudi Arabian firm, purchasing 60 percent of its shares and renaming it as Kimia Farma Dawaa.

    It is currently investigating Vietnamese regulations to discover whether or not it can own a majority stake in a local firm, a critical factor in securing its investment.

    “It depends on the regulation in the country,” said Kimia Farma finance director IGN Suharta Wijaya. “It the regulation is okay, we will enter the country this year.”

    “If the sales of each Kimia Farma outlet in the country is IDR1.5 billion ($104,877) per month, [the sales of an outlet of the Vietnamese company] could be IDR4 billion per month,” Wijaya added.

    Investment in the pharmaceutical industry is stepping up in Vietnam, with the announcement last week that Vietnam-focussed private equity firm Mekong Capital has issued funding to pharmacy chain Pharmacity.

    With 186 outlets retailing both traditional Vietnamese and Western medicines, Pharmacity is the country’s most widespread network of pharmaceutical products stores, with 1 million subscribers to its loyalty program. The firm is targeting 1000 outlets in Vietnam within two years.

    Reportedly, Kimia Farma is seeking to buy a chain with 400 outlets nationwide.

  • Vietnam Equity Firm buys into Vietnam’s Pharmacity

    Vietnam Equity Firm buys into Vietnam’s Pharmacity

    Vietnam private equity firm Mekong Capital has issued funding to pharmacy chain Pharmacity.

    Pharmacity is now the eighth company to receive funding from Mekong’s latest financing round, following the firm’s investment in mattress producer Vua Nem last year.

    With 186 outlets retailing both traditional Vietnamese and Western medicines, Pharmacity is the country’s most widespread network of pharmaceutical products stores, with 1 million subscribers to its loyalty program. The firm is targeting 1000 outlets in VIetnam within two years.

    “Our partnership with Mekong Capital will empower us to continue improving healthcare for the Vietnamese people,” said Pharmacity founder and CEO Chris Blank, “and help accelerate our growth while better positioning us to execute on our vision and mission to build the most convenient pharmacy chain where customers fully entrust their health and wellness.”

    “The company was the first retailer in this sector to demonstrate that all of Vietnam’s regulations and compliance thresholds can be met and still generate a healthy store level profitability,” added Mekong Capital partner Chad Ovel.

    Lees ook:

  • Pharmacity to open 500 more stores in Vietnam

    Pharmacity to open 500 more stores in Vietnam

    Vietnam’s retail drugstore chain Pharmacity plans to open 500 stores by 2023.

    It has opened six more stores in Ho Chi Minh City this month, expanding its network to 71 to become the largest pharmacy chain in Vietnam.

    Over the next two years, Pharmacity plans to boost its store numbers to 200. It also has an online store.

    Modern retail drugstores have become popular in Vietnam, according to a new report from VN Research. It says Phano Pharmacy is the second-largest chain with 60 stores, Medicare has 59 while Dairy Farm-owned Guardian has 49.

    Mobile device retail giant Mobile World (The Gioi Di Dong) last month acquired a 40 per cent stake in the Phuc An Khang pharmacy chain, changing the name to An Khang. Mobile World plans to raise its ownership to 60 per cent and open up to 500 stores nationwide.

    Lees ook: