Chandigarh-based Surya to Setup 'Wellness' Chain of 500 Stores under 'Viva' Brand Name

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Surya to Setup 'Wellness' Chain of 500 Stores under 'Viva' Brand Name

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The medicines market in India is highly fragmented with over 500,000 family-owned small sized chemists & drugists operating across the country.

Only a few organised retailers have entered this business, which together with wellness products (health foods, personal care products, rehabilitation products, devices, etc) offers over Rs 60,000 crore opportunity. Medicines markets alone contributes over Rs 35,000 crore of turnover. Currently, Apollo Pharmacy and Reliance Wellness are the only retail chains that have pan-India presence, though many big and small regional players like Religare Fortis (ex-Ranbaxy), Med Plus, Guardian, 98.4, Lifecan (now Religare), Medicine Shoppee, Dial for Health, Planet Health, Medi Plus, etc, who have entered the segment with national ambitions. Even trade associations of chemists in several states are trying to form cooperatives/ companies to fight the emerging challenge from organised pharmacy chains.

To begin with, the company will set up 100 Viva stores in the next one year. Almost all of these stores will be located in and around Delhi (NCR).

The company will, however, set up a chain of 500 stores, of 150 to 1,000 sq ft size, over a period of next three years. This will entail an investment of Rs 250 crore ($50 million), which will be funded through a combination of equity and debt. The company will also seek induction of private equity in the proposed venture.

While, initially the company will set up company owned stores, later on it will try to extend the network through franchisee owned model

"The presence of a huge spurious drug market along with an increasing number of lifestyle and stress-related ailments prompted us to foray into healthcare retail," said Rajiv Goyal, Chairman and Managing Director of the company.

Surya eyes 300 Viva stores BS Reporter | 2010-06-11 01:10:00
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Chandigarh-based Surya pharmaceutical Limited plans to have 300 Viva stores- the pharmaceutical retail chain by Surya, by end of this fiscal.

Rajiv Goyal, Chairman cum Managing Director, Surya pharmaceutical Limited, while inaugurating the 15 th Viva store in tricity (Panchkula, Chandigarh and Mohali) revealed the company aimed to have 500 Viva stores in the next three years.

The store here is the first exclusive wellness outlet by Viva. Commenting on the wellness outlet, Goyal added the Viva wellness outlet is stocked with unique and exclusive range of international and national brands of minerals, vitamins and herbs including the regular genuine medicines, health care and beauty products. "Store also has multi nutrient, omegas, vitamins, minerals and herbs that prevent diseases and keeps an individual healthy. These include brands like Ascenta Health and Econugenics of Canada, Equazen of UK, Nature’s Answer of America in addition to the regular offering of prescription items and FMCG products," he said.

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Surya eyes 300 Viva stores BS Reporter | 2010-06-11 01:10:00
Check Out The New SX4Ads by GoogleLuxurious Interiors-New VVT Engine. Take A Virtual Test Drive Today! www.MarutiSX4.com
Chandigarh-based Surya pharmaceutical Limited plans to have 300 Viva stores- the pharmaceutical retail chain by Surya, by end of this fiscal.

Rajiv Goyal, Chairman cum Managing Director, Surya pharmaceutical Limited, while inaugurating the 15 th Viva store in tricity (Panchkula, Chandigarh and Mohali) revealed the company aimed to have 500 Viva stores in the next three years.

The store here is the first exclusive wellness outlet by Viva. Commenting on the wellness outlet, Goyal added the Viva wellness outlet is stocked with unique and exclusive range of international and national brands of minerals, vitamins and herbs including the regular genuine medicines, health care and beauty products. "Store also has multi nutrient, omegas, vitamins, minerals and herbs that prevent diseases and keeps an individual healthy. These include brands like Ascenta Health and Econugenics of Canada, Equazen of UK, Nature’s Answer of America in addition to the regular offering of prescription items and FMCG products," he said.

SEARCH
Surya eyes 300 Viva stores BS Reporter

2010-06-11 01:10:00

Chandigarh-based Surya pharmaceutical Limited plans to have 300 Viva stores- the pharmaceutical retail chain by Surya, by end of this fiscal.

Rajiv Goyal, Chairman cum Managing Director, Surya pharmaceutical Limited, while inaugurating the 15 th Viva store in tricity (Panchkula, Chandigarh and Mohali) revealed the company aimed to have 500 Viva stores in the next three years.

The store here is the first exclusive wellness outlet by Viva. Commenting on the wellness outlet, Goyal added the Viva wellness outlet is stocked with unique and exclusive range of international and national brands of minerals, vitamins and herbs including the regular genuine medicines, health care and beauty products. "Store also has multi nutrient, omegas, vitamins, minerals and herbs that prevent diseases and keeps an individual healthy. These include brands like Ascenta Health and Econugenics of Canada, Equazen of UK, Nature’s Answer of America in addition to the regular offering of prescription items and FMCG products," he said.

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