Chemist Discount Centre has announced 60% growth, a national footprint expansion and an aggressive three-year growth strategy
The announcement came following the opening of three new stores in Western Australia this month.
After only featuring its franchise model at APP in May this year, the company plans to soon be operating in 24 locations across Western Australia, Queensland, Victoria and NSW.
The new national discount brand is part of Advantage Group, which has a network of more than 230 retail pharmacies.
It is seeing growth due to the current macro-economic environment and the strength of the brand’s value proposition, which includes market leading proprietary technology, says Steven Kastrinakis, CEO of Advantage Group.
“Chemist Discount Centre is one of the only commercially available discount brands that doesn’t fall into the ‘Faux Discounter’ space,” he says.
“Modern consumers are savvy, and our competitors are finding that they just can’t get away with this business model anymore.
“As pharmacies continue to struggle from the fallout of years of PBS reform and downwards pressure on valuations, independent pharmacies are looking at partnering with brands who can provide a business platform centred around growth.”
The brand plans to rapidly gain market share over the next three years.
The Group, which is privately owned by pharmacists, has spent six years testing and operating the brand and business model via its own pharmacies prior to deciding to make the brand available to the market.