Pharmacity experiences an unprecedented breakthrough year
Pharmacity experiences an unprecedented breakthrough year
Vietnam's leading modern retail pharmacy chain Pharmacity has just announced outstanding business results in 2021, including revenue, system expansion speed, number of orders sold and number of member customers, which all increased dramatically.
Despite numerous challenges in 2021, Pharmacity has expanded its system by more than 50 percent with about 800 pharmacies nationwide, recording 27 million transactions, while the number of member customers exceeded seven million, and revenue reached VND3.567 trillion – more than double that in 2020. The retail chain also recorded the highest customer satisfaction score (according to Cimigo's research report) in 2021 and has been a profitable business since July 2021, according to the EBITDA index (profit before tax) of the unit.
Chris Blank, Founder and CEO of Pharmacity said, “I am so thankful to all of our customers who supported us, and trusted us as during such a challenging year. I attribute our success this year to the quality of our product, our diverse range of over 7,800 items, and the competitive pricing we offer to our customers. There is a lot of noise around performance in the market, and around pricing, whilst at Pharmacity the customer is our clear focus. So right now, for example, our highest priority is to ensure that we maintain a stable supply of testing kits, masks and Covid-19 medicine, including the anti-viral containing the active ingredient Molnupiravir. Our customers are demanding these items, and it is our responsibility to meet that demand. Pharmacity is the leading and largest brand in the market, and I do not take that for granted. We are acutely aware that we owe everything to our customers.”
Pharmacity provides a variety of products such as Covid-19 quick test kits, vitamins and Covid-19 treatment drugs in the most needed period with stable prices |
Among 7,800 SKU’s including 350 Pharmacity and exclusive brand products (focused on healthcare, personal care and VMS) driving growth, vitamins and supplements were the strongest performing category of Pharmacity’s key product categories (OTC, personal care, healthcare, CVS, beauty Care, vitamins minerals and supplements, baby and skincare).
By 2025, Pharmacity will have 5,000 stores nationwide with the goal of 50 percent of people having a store within 10 minutes of their homes. Pharmacity is strengthening its digital infrastructure to prepare for its expansion and the rapid rollout of its online business by 2025. This ambitious plan will lead Pharmacity to a turnover of over US$3 billion and will create jobs for over 35,000 Vietnamese people.
In 2021, Pharmacity increased its system expansion rate to 50 percent, striving to achieve the target of 5000 pharmacies nationwide by 2025 |
Chris Blank added, “I also want to give a shout out to our people. I am so proud of our teams who have worked hard to drive sales and expand our store network. We are thrilled to see this fantastic growth momentum, despite challenging market conditions. Our pharmacists have become a key pillar of the healthcare ecosystem in Vietnam, and we are looking forward to continuing to expand our services to provide our customers with the best and most convenient pharmacy offering.”
Established in 2011, Pharmacity is the leading brand in the pharmaceutical retail industry in Vietnam. By March 2022, Pharmacity provides customers in Vietnam an unrivaled convenient GPP certified pharmacy network with 1,000 stores nationwide and access to over 4,600 highly trustworthy pharmacists serving the leading medicine and health & wellness product offer at the most competitive price.
