Vietnam Equity Firm buys into Vietnam’s Pharmacity
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Vietnam private equity firm Mekong Capital has issued funding to pharmacy chain Pharmacity.
Pharmacity is now the eighth company to receive funding from Mekong’s latest financing round, following the firm’s investment in mattress producer Vua Nem last year.
With 186 outlets retailing both traditional Vietnamese and Western medicines, Pharmacity is the country’s most widespread network of pharmaceutical products stores, with 1 million subscribers to its loyalty program. The firm is targeting 1000 outlets in VIetnam within two years.
“Our partnership with Mekong Capital will empower us to continue improving healthcare for the Vietnamese people,” said Pharmacity founder and CEO Chris Blank, “and help accelerate our growth while better positioning us to execute on our vision and mission to build the most convenient pharmacy chain where customers fully entrust their health and wellness.”
“The company was the first retailer in this sector to demonstrate that all of Vietnam’s regulations and compliance thresholds can be met and still generate a healthy store level profitability,” added Mekong Capital partner Chad Ovel.
Questions & Answers
Q.How many companies has Mekong Capital funded in its latest financing round?
How many companies has Mekong Capital funded in its latest financing round?
Pharmacity is the eighth company to receive funding from Mekong Capital's latest financing round. This follows their investment in mattress producer Vua Nem last year.
Q.What is Pharmacity's target for outlet expansion in Vietnam?
What is Pharmacity's target for outlet expansion in Vietnam?
Pharmacity is aiming to expand its network significantly within the next two years. The firm has set a target of opening 1000 outlets across Vietnam.
Q.What kind of products does Pharmacity sell in its stores?
What kind of products does Pharmacity sell in its stores?
Pharmacity outlets retail a diverse range of pharmaceutical products. They offer both traditional Vietnamese medicines and Western medicines to their customers.
Q.What makes Pharmacity an attractive investment for Mekong Capital, according to Chad Ovel?
What makes Pharmacity an attractive investment for Mekong Capital, according to Chad Ovel?
According to Mekong Capital partner Chad Ovel, Pharmacity demonstrated it could meet all Vietnamese regulations and compliance thresholds. This was achieved while still maintaining healthy store-level profitability.
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