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Pharmacity enters strategic partnership with Palexy

Vietnam's largest pharmacy chain is Palexy's newest client.

Ho Chi Minh City. -- November 23rd, 2020 -- Despite Covid-19 casting a dismal shadow on the nation's economy, the pharmaceutical retail sector in Vietnam perseveres. In fact, the industry is especially hot right now. Beside seasoned companies such as Pharmacity and Phano Pharmacy, newcomers including VinFA from Vingroup, An Khang Pharmacy by The Gioi Di Dong, and Long Chau Pharmacy with capital from FPT Retail are galvanizing the pharmaceutical market. The growth momentum of this segment is projected to continue side by side with a rising quality of life in general.

Amidst this vibrant scene, Pharmacity still reigns as Vietnam's champion with over 400 stores all over the country, almost 4 times the size of its runner-up. Although Pharmacity has gained a steady customer base, the company has loftier goals. In its announcements, the company plans to open in 1000 locations across all 63 provinces by the end of 2021. That is an ambitious endeavor by any standard, but Pharmacity has already made great strides due to three factors. First of all, Pharmacity offers a wide array of products ranging from traditional to Western medicines, as well as personal care products and supplements. Secondly, Pharmacity sources its products directly from authorized distributors and manufacturers to ensure the highest standard of quality, thus establishing itself as a reliable presence to consumers. Lastly, Pharmacity has developed add-ons such as online drug store, the ExtraCare app, and the 60-minute shipping service, all in the name of "becoming the most convenient pharmacy chain", according to Mr. Blank, the company's founder and CEO.

In 2019, the Mekong Capital group finalized its investment in Pharmacity, confirming the company's promising prospects. In pursuit of both rapid expansion and customers' happiness, Pharmacity has chosen to employ the services of Palexy. As the leading AI technology company in Vietnam that focuses on serving retailers, Palexy has proven again that its solutions are valuable, insightful, and adaptive to a number of industries.



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