Unlisted Deals:
×
1mg and PharmEasy going offline for omnichannel
Created at 30 Nov 2021 06:18

Two of India’s biggest online pharmacies are going offline, as they look to have an omnichannel presence to widen their user base.

While PharmEasy has been expanding its offline presence through franchise outlets, 1mg, owned by Tata, will build its first physical store in Gurugram next month sources added. It will be interesting to see how the two companies handle going offline, they said. PharmEasy is allowing pharmacies to use its name and branding in exchange for a percentage of revenues. People familiar with the subject claimed PharmEasy will also use its distribution network to supply these stores. PharmaEasy started in non-metros and wants to spread widely. As a result, it is being tried in more markets. “They don't want to open their own businesses, but rather franchise,” one person said.

Siddharth Shah and Prashant Tandon, co-founders of PharmEasy and 1mg, declined to comment. As part of its broader aim to attract new users, PharmEasy has developed a franchise-store model. In June, it purchased Thyrocare Technologies, a diagnostic chain, for Rs 4,546 crore, and Aknamed, a cloud-based hospital supply chain management firm. API Holdings filed for an IPO of Rs 6,250 crore with the SEBI earlier this month.

They (retailers) get to buy from PharmEasy for guaranteed supply. If it works, it will be enormously scaled and could be huge for the company,” a second source added. Consumers can pick up medicines from neighboring stores after ordering online through the PharmEasy network. 1mg's offline development aligns with Tata Digital's objectives to create an omnichannel presence for its internet businesses. Last week, the Tatas' online supermarket BigBasket announced plans to open 200 Fresh outlets for fresh produce by 2023.

Support Megha Support Neha

News Alert