Reliance Retail has entered the offline pharma retail market through its subsidiary Netmeds; the company has reportedly opened its first standalone store in Chennai. Netmeds had previously concentrated on the online sale and delivery of medications.
Following the opening of its first store in Chennai, Reliance Retail plans to open more than 2,000 standalone pharmacy stores in a year, according to the Times of India. The pharma store will sell alternative medicine categories such as Ayurveda, Unani, and Homeopathy in addition to conventional medicines. Although the opening of offline stores through Netmeds will be Reliance Retail’s first foray into the offline pharma business, the company already operates around 1,000 shop-in-shop pharma stores through Reliance Smart Bazaar in cities and Smart Point stores in towns and villages.