Pharma chain to expand in Southern cities
Bangalore, Apr 27 (UNI) Organised and branded retail Pharma stores in the country is gaining ground to enter into a huge Rs 3200 crore industry growing eight to ten per cent a year.
With a number of Pharma Chains mushrooming across the country, Lifeken, promoted by Lifetime Healthcare Pvt ltd has this week entered Chennai with four outlets and a distribution centre after a successful inaugural year which saw the Chain opening 25 shops across the city with an initial investment of Rs 10 Crore.
Promoter and CEO M C Kini told newsmen here that with an investment of Rs 40 crore would go into setting up 200 shops across the South by the end of the current fiscal and over 700 shops all over the country in three years.
He said growth in the economy and the pharma sector had helped traditional pharmacies and organised chains to coexist and grow.
Stating that the Chain would also consider franchise models and partner with some of the existing local pharma outlets to gain from the customer confidence these outlets enjoy.
He said across the country there were over five million drug stores.
Lifetime HealthCare said LifeKen Chairman Pranabh Mody was positioned as a pharmacy that actively supported wellness and health for everyone by being present in one's neighborhood. He said at any given time LifeKen retains a wide range of over 9000 drugs and other products and the same would cross 25,000 in couple of years.
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