Leading Australian discount pharmacy chain Chemist Warehouse has opened its first European store in Ireland.
Chemist Warehouse operates over 460 stores across Australia, New Zealand and China, with a strong online presence. It has an estimated share of over 26% of Australia’s A$16bn (€10bn) retail pharmacy market.
Its entry into Ireland has seen the retailer take 5,000 sq. ft. of space in Dublin’s Westend Shopping Park. Two further Dublin stores are planned to open in 2021, followed by a roll out across the country.
The chain has been dubbed the ‘McDonald’s of pharmacy’ and its arrival in Ireland is expected to heap pressure on local retailers in the sector.
A spokesperson for Chemist Warehouse, said: “Ireland was always going to be a great fit for Chemist Warehouse, with similar demographics to Australia. We saw an opportunity to give the Irish customer affordable healthcare and leading brands at the best price. We didn’t anticipate arriving in Ireland just as a pandemic hit, however, now more than ever, consumers want the best value possible.”
NAM Implications:
- If this includes price cutting of generics…
- …they have a great future in Ireland…
- …where generics are at no more than 5% discount to their branded equivalent.
- Watch this space…
