Guardian Lifecare plans 150 stores by next year

Healthcare and pharma company Guardian Lifecare Pvt Ltd has plans to expand its chain of retail stores to 150 by March next year. In Punjab alone, the company has plans to invest Rs 15 crore in expansion over the next two years.

The growing organised retail pharmacy chain with a strong presence in north India feels the Punjab, Chandigarh and National Capital Region markets have a huge potential.

Speaking to Business Standard, Guardian Lifecare Chairman and Managing Director Ashutosh Garg said the company would like to expand to newer cities in Punjab and Chandigarh by the year-end. "In Punjab we will make our presence in upcoming malls in Jalandhar and Ludhiana," he said.

He added, "We require a minimum 1,500 square feet area with an investment of anywhere between Rs 75 lakh to Rs 1 crore to start a store."

Guardian Lifecare currently operates in seven cities in north India: Gurgaon, Delhi, Noida, Meerut, Faridabad, Ghaziabad and Jaipur. The 51 retail stores offer a range of prescription and over-the-counter medicines, food supplements, self diagnostic equipment etc.

Garg was confident that following a recent exclusive association with the largest global speciality retailer of nutritional supplements, General Nutrition Centre, which had revenue in excess of $1.3 billion in 2005, in two years' time Guardian Lifecare would have a national presence.

"Currently, 250 products from the wide range of 6,000 that are available at General Nutrition Centre will be available in India," informed Garg.

The company also plans to increase its headcount to 775 employees this fiscal from the present 275. The company closed this financial year with a turnover of Rs 25 crore and is targeting Rs 75 crore by 2006-07.