Despite 2021 being full of challenges, Pharmacity expanded its network by more than 50 per cent to some 800 pharmacies nationwide, recorded 27 million transactions, saw its member customer numbers exceed 7 million, and posted revenue of VND3.567 trillion ($158 million); more than double the figure in 2020.

The chain was a profitable business from July 2021, according to the EBITDA (earnings before interest, taxes, depreciation, and amortization) index.

“I am so thankful to all of our customers who supported us and trusted us during such a challenging year,” said Mr. Chris Blank, Founder and CEO of Pharmacity. “I attribute our success this year to the quality of our products, our diverse range of over 7,800 items, and our competitive pricing. There is a lot of noise around performance in the market and around pricing, while at Pharmacity the customer is our clear focus. So, right now, our highest priority is to ensure that we maintain a stable supply of testing kits, masks, and Covid-19 medicine, including anti-viral medicine 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 don’t 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 rapid test kits and treatment drugs, at stable prices.

Among 7,800 SKUs (stock-keeping units) are 350 Pharmacity exclusive brand products, focused on Healthcare, Personal Care and Vitamins, Minerals and Supplements (VMS), driving growth. VMS was the strongest performing category, with others being OTC, Personal Care, Healthcare, CVS, Beauty Care, Baby, and Skincare.

By 2025, Pharmacity will have 5,000 stores nationwide and reach its goal of half the population having a store within ten minutes of their home. 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 turnover of over $3 billion and will create jobs for over 35,000 Vietnamese people.

“I also want to give a shout out to our people, and I am so proud of our teams, who have worked hard to drive sales and expand our store network,” Mr. Blank added. “We are thrilled to see this fantastic growth momentum, despite the 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, it provided customers in Vietnam with an unrivaled and convenient GPP-certified pharmacy network with 1,000 stores nationwide and access to over 4,900 highly-trustworthy pharmacists selling the leading medicine and health and wellness product offering at the most competitive prices.