Chemist Warehouse

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Chemist Warehouse Group
Private
Industry Pharmacy
Founded 2000; 24 years ago (2000)
Founders Jack Gance
Sam Gance
Mario Verrocchi
Headquarters Preston, Victoria
Australia
Number of locations
 350[1]
Area served
 Australia, New Zealand, Ireland, China
Key people
 Damien Gance
Mario Tascone[2]
Products
  • Pharmacy
  • health products
  • supplements
  • perfume
  • personal care
  • baby products
  • weight loss
  • cosmetics
Number of employees
 8000
Website

Chemist Warehouse Group (trading as Chemist Warehouse, Chemist Warehouse New Zealand, My Chemist, My Beauty Spot[3]) is an Australian company operating a chain of retail pharmacies both locally and internationally. The company is Australia's largest pharmacy franchise retailer with over 350 stores,[1] and employs over 8,000 staff. The company brands itself as offering discounted prices for pharmaceutical goods.[3][4] The company also manages a website and a "click and collect" 24 hour dispense either pick-up and delivery service for medications.[3]

Model

File:Chemist Warehouse Woden in September 2013.jpg
A Chemist Warehouse store in Canberra in 2013
File:Interior of Chemist Warehouse at Rocklea, Queensland.jpg
Chemist Warehouse interior Rocklea, Queensland

The company has been dubbed "the McDonald's of pharmacy" and uses a complex franchise structure to circumvent Australian regulations that limit how many pharmacies a company can operate in any one area.[5] The company's structure allows it to "control" about 400 pharmacies across Australia, and it makes up about 50 percent of the market share. The business model used by Chemist Warehouse is thought to involve minimal equity investment by individual pharmacists who agree to the trading terms enforced across the group. Individual pharmacists working under the Chemist Warehouse umbrella benefit from the bulk purchasing power that comes with being part of the company.[6]

The company had an estimated revenue of $2.3 billion in 2013–14.[7]

History

Founders

The company was founded in 2000 by pharmacist Jack Gance and his brother Sam in partnership with businessman Mario Verrocchi.[8] Jack Gance had opened his first pharmacy in 1972 and with his brother developed the largest pharmacy distributor in Australia, creating brands such as Le Specs sunglasses, Le Tan sunscreen and Australis cosmetics. He sold the distribution business in 1991 and studied for a Master of Business Administration at Monash University and the New York University Stern School of Business.[9][10] The next generation of the family includes Damien Gance,[8] who is also involved in running the business, and television doctor Elena Gance.[11]

Jack Gance and his wife own a mansion in the Melbourne suburb of Toorak,[12] as does his brother Sam, who is married to reality television star Janet Roach.[13] Verrocchi and his wife Fiona own the historic Morning Star Estate on the Mornington Peninsula south of Melbourne.[14] In 2013, Inside Retail magazine ranked Sam Gance as the 16th most powerful retailer in Australia.[15]

Expansion

In 2022, the company opened stores in China and Ireland, and expanded its chain in New Zealand.[14] It is a shareholder in medical vape manufacturer Liber Pharmaceuticals.[16] There was speculation in 2021 and again in 2023 about the company going public and listing on the Australian Stock Exchange.[17][18]

Radio

The company has a radio station called Chemist Warehouse Remix which broadcasts in stores as well as on DAB+ and the iHeartRadio app. This is run in partnership with the ARN group and New Zealand Media and Entertainment. [19][20]

Criticism

The Pharmacy Guild and pharmacists' union have criticised the company, stating its approach threatens both healthcare standards and employment conditions in the industry.[5] It was also being probed by the Fair Work Ombudsman of underpaying almost 6,000 employees totaling more than $3.6 million in outstanding wages.[21]

References

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  20. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  21. ↑ Lua error in package.lua at line 80: module 'strict' not found.

External links

Template:Retailers in New Zealand

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