Priceline Pharmacy is celebrating the 15th anniversary of its first pharmacy in Pakenham, Victoria
And Priceline’s oldest store – Highpoint, Victoria – has just converted to a pharmacy after operating for 35 years.
Since 2002, when Priceline Pharmacy Pakenham first opened its doors, the total store network has grown from 140 to 462 stores around the country. Pharmacies now make up 70% of all Priceline stores.
“These two stores have been fundamental to our development of the brand,” says Richard Vincent, CEO and Managing Director, Priceline Pharmacy.
“Our franchise partners have been the growth driver for Priceline Pharmacy and their commitment enables our network to continually evolve.
“I look forward to forging relationships with new franchise partners as we continue to grow.”
Mr Vincent thanked the teams at both stores, including Pakenham founding franchise partners Jeff Thom, Karen Dougall and Andrew Rewell; and Highpoint franchise partner Samir Khreish.
“Jeff, Karen and Andrew were instrumental in changing the direction of the Priceline brand to enter the pharmacy world and they’ve helped create one of the most recognised retailers in Australia,” Mr Vincent says.
Pakenham founding franchise partner Mr Rewell says the premise of aligning a pharmacy with a strong retail brand 15 years ago was to improve front of shop sales with consequential increased returns on the inventory, the floor space and the labour.
“Priceline sold all the sort of stock that most pharmacies sold, however when you went in to a Priceline store it was easy to see that it was much busier than the pharmacies selling that same stock.
“It occurred to me that Priceline clearly knew something about retailing and marketing that pharmacy was lacking at the time,” says Mr Rewell.