Vietnam’s retail drugstore chain Pharmacity plans to open 500 stores by 2023.

It has opened six more stores in Ho Chi Minh City this month, expanding its network to 71 to become the largest pharmacy chain in Vietnam.

Over the next two years, Pharmacity plans to boost its store numbers to 200. It also has an online store.

Modern retail drugstores have become popular in Vietnam, according to a new report from VN Research. It says Phano Pharmacy is the second-largest chain with 60 stores, Medicare has 59 while Dairy Farm-owned Guardian has 49.

Mobile device retail giant Mobile World (The Gioi Di Dong) last month acquired a 40 per cent stake in the Phuc An Khang pharmacy chain, changing the name to An Khang. Mobile World plans to raise its ownership to 60 per cent and open up to 500 stores nationwide.

Source: Inside Retail Asia