Netmeds to open 10 offline stores in city

“We will be opening 10 outlets under the franchisee model. Our investment will be around Rs 15-20 lakh per outlet in technology and other aspects,” CEO, Netmeds, Pradeep Dadha said.  

He says it will be a pilot project and based on the response, expansion would be considered. The decision to have an offline channel is not because of any declining trend in online sales or due to declining prices of life saving drugs, Dadha added. “Our franchisees will pay a minimum guarantee fee and variable fee based on the volume of business done,” he said. 

On the revenue impact with the Centre fixing the retail sale prices of life saving drugs, he said the revenue has gone down. “But discount percentage on sale of drugs to customers depends on the margins that we get,” Dadha added.