Thursday, November 19, 2009

Boots prioritises Thai branch expansion

Boots GroupImage via Wikipedia

Thailand is a key market for Boots International's expansion plans next year.

The firm also became the first major retail chain to get clearance from the Food and Drug Administration to sell erectile dysfunction drugs.

Gordon Farquhar, managing director of Boots International, said it would continue to invest in Thailand, the US, the Netherlands and Norway.

"Thailand is a very important market and contributes about half of our global sales," he said, while in Bangkok yesterday.

Boots, which opened its first branch in Thailand at SCB Park in Bangkok 12 years ago, now has 160 stores nationwide.

"Thailand is the best place to continue our expansion. However, we will expand step-by-step with the right products and services," said Mr Farquhar.

Ian Hunter, managing director of Boots Retail (Thailand), the local operator, said the company plans to open 10 new stores next year, bringing the total outlets to 176 in its 2010 financial year, which starts April 1.

The expansion will help sales grow by double-digits next year, he said.

Yesterday, the company announced it had received approval from the Food and Drug Administration to sell erectile dysfunction pills to men with a doctor's prescription for the drug. Some 121 Boots outlets are certified to sell the medicine.

After getting the FDA approval, Boots will become the biggest retail chain to sell the drug, with the potential to gain a 50% market share in the future.

Currently, there are about 350 certified pharmacies nationwide that can sell the drug. The market for erectile dysfunction pills in Thailand is valued at about 300 million baht.
Reblog this post [with Zemanta]

No comments:

Post a Comment


Related Posts with Thumbnails