Healthcare retail chain, Guardian Lifecare plans to spread its reach with the launch of 50 stores across the country by March 2009. Currently, the company has 20 stores in the pipeline, two of which will be opening shortly in Mumbai at Phoenix Mills and Inorbit Mall at Vashi. Further, the company will also be opening two stores in Bengaluru, 12 in Delhi, six in Noida, six in Gurgaon among others in the next two months, informed Ashutosh Garg, chairman and managing director, Guardian Lifecare.
Garg also said that the company is rolling out three stores every week. Citing government figures, Garg revealed that 35 per cent of pharmaceuticals sold in India are fake. He was speaking at PetroTech-2009, organised by FICCI in New Delhi.
Further, Garg said, “We expect revenue to cross Rs 1 billion by March 2009. By March 2010 we expect that it will go to Rs 3 billion. In the next 12 months we plan on opening 400 stores across the country and expect to spend Rs 1 billion on this.”
With plans to tap into the southern market, the company would open stores in Hyderabad and Chennai in addition to Pune post March.
— IndiaRetailing Bureau