Pharmacity, Vietnam’s largest pharmacy retailer, is carrying out its ambitious expansion plan.
Opening 1,000 stores by end of 2021
Pharmacity has raised US$31.8mn in a fresh funding round as it ramps up its expansion plans.
According to the retailer, the new funding will be used for its further store network expansion. It aims to open 350 new stores this year and reach 1,000 stores by the end of next year.
The company is aiming to achieve more than US$130mn in revenue per year.
Pharmacity achieved revenue growth of 129% YoY (year-on-year) last year. Prior to the latest funding round, it had successfully raised US$6.44mn.
Retail Analysis Asia