Medicine Shoppe to double number of outlets this fiscal

Mumbai: Global chain chemists Medicine Shoppe International's Indian subsidiary Medicine Shoppe is set to double its number of outlets to around 100 from the present 50 in the current fiscal 2204-05.

The company is also planning to increase its presence in the southern states of the country, mainly in Andhra Pradesh and Karnataka, where the franchisee shops'' presence is comparatively low.

The franchisee chain expects these initiatives to increase its revenues of by around 45 per cent to 50 per cent during the current fiscal.

"The additional franchisees would be rolled out in Maharashtra, Gujarat, Goa, Kolkata and Hyderabad, which is expected to be completed by March 2005," according to Rajendra Gupta, Chief Operating Officer of Medicine Shoppe India.

Of the additional 50, the company would be rolling out around 20 outlets, with 6 in Goa, 4 in Ahmedabad and 10 in Mumbai, by the next quarter itself, he said, adding the remaining would be launched in a phased manner through out the country.

Medicine Shoppe is also planning to increase its presence in the south Indian states in Andhra Pradesh and Karnataka, he said.

The company is planning to open around 7-8 franchisees in Hyderabad and around 10 in Bangalore, while a couple of them would be rolled out in Tamil Nadu and Kerala, the COO said.

The rollout in Tamil Nadu and Kerala is on a test basis, while a full-fledged launch is slated to 'follow soon'.

Earlier, the company had tied-up with Royal Sundaram Alliance Company Ltd to provide free health insurance policies and Bajaj Allianz for personal accident insurance for its customers.