Mekong Capital, a private equity firm in Vietnam has given funding to Pharmacity, making it the eight company to receive funding from its latest financing round. Last year, the firm invested in Vua Nem, a mattress producer.
Pharmacity is a pharmacy chain with 186 outlets in the country, offering both Western and traditional Vietnamese medicines. The company has a ubiquitous presence, boasting an extensive network of pharmaceutical stores and a loyalty program with more than 1 million subscribers. Plans for future growth include reaching 1,000 outlets in Vietnam by 2021.
According to a Mekong Capital partner, Pharmacity is a good example of a retailer which meets all of Vietnam’s regulations and compliance standards, and still shows a healthy store level profit.
(Source: Inside Retail)