Pharmacity Targeting Expansion to 1000 Stores by End 2021

February 2020

Vietnam’s largest pharmacy retailer, Pharmacity, plans to open 350 new stores this year and reach 1000 stores by the end of next year.  In February 2020, Pharmacity raised VND 730 billion (USD 31.8 million) in a fresh funding round, which will be used for the further store network expansion. The identity of the investors was not revealed.

The company is aiming to exceed VND 3 trillion (USD130 million) in revenue. In 2019, Pharmacity achieved revenue growth of 129% year on year.

Established in 2012, Pharmacity is Vietnam’s largest pharmacy retail chain, with more than 210 locations in Ho Chi Minh City, Can Tho, Binh Duong, Vung Tau and Hanoi.

Prior to the latest funding round, Pharmacity had successfully raised VND 150 billion (USD 6.44 million). Pharmacity also received financing from Mekong Capital, a Vietnam-based private equity fund company, in 2019 to accelerate its growth within the country.

(Source: Insideretail Asia)

Our Services

Orissa International provides consulting services to companies that want to develop a market entry strategy for Southeast Asia or implement their business expansion into the region. We have very strong domain knowledge of markets and industry sectors, and a business network of over 16,000 distributors, resellers, and system integrators, built through advising and guiding more than 5,000 companies with their market expansion into Singapore, Malaysia, Indonesia, Thailand, Vietnam and the Philippines over the last 25 years.