New Delhi: With the Indian pharmaceutical sector expected to grow to US$ 100 billion by 2025 and the Indian government allocating Rs 2,23,846 crore in the recent budget to healthcare, Frank Ross, the pharmacy retail arm of Emami Group is penetrating further into the existing geographies of West Bengal and expanding to newer territories. To make this possible Frank Ross has partnered with Franchise India, the World’s largest franchising company.
Globally, India is the largest provider of generic drugs. India’s domestic pharmaceutical market turnover reached Rs 1.4 lakh crore (US$ 20.03 billion) in 2019, up 9.8% y-o-y from Rs 129,015 crore (US$ 18.12 billion) in 2018. It is expected that medicine spending in India would grow 12% over the next five years, leading India to become one of the top 10 countries in terms of medical spending.
At present, Frank Ross has 200+ pharmacy stores in West Bengal, Bengaluru, Bhubaneshwar, and Chennai. The brand established in 1906 holds the legacy of serving prescriptions since the British era and has its presence for over 100 years now. This modern face of India’s pharmacy retail chain serves15 Lakh+ customers, 80+ corporate clients, nursing homes, NGOs, and reputed hospitals by delivering quality pharma and healthcare products and services.
Frank Ross was acquired by the Emami Group in 1993 and has been a part of this conglomerate for over 25 years now. Located in Kolkata, Emami Group was established in the 1970s and has become one of the leading FMCG giants in India that also has its presence in real estate, edible oil, paper, healthcare, leisure retail amongst many others. Some of the famous personal care brands owned by Emami are Boro Plus, Navratna, and Kesh King.
Frank Ross functions through an omnichannel approach where a satisfactory customer journey is extremely critical. Some of the promises made by Frank Ross are free home delivery, 24 hours serviceable, computerized invoicing, digital payments, issuing monthly medicine reminders, and many others. To avail, a franchise one needs a store size of 300 sqft and roughly 14.15 lakh of investment. Frank Ross will help the franchisee to procure licenses, staff training, the supply of products, IT infrastructure, and facilitate marketing and promotion.
Gautam Jatia, CEO, Emami Frank Ross Limited said, “This pandemic has taught Indians the importance of good health and well-being. We believe that Frank Ross’s legacy and value propositions will be helpful for the franchisee. Our stronghold in the West Bengal markets accompanied with unmatched pricing will enable the brand to gain momentum in no time. This year we are aiming to open 50 new stores and clock over Rs. 500 Cr. of business. We are hopeful that through this association, we will be able to achieve our set targets.”
Adding to the conversation, Prateek Agarwal, Senior Manager – Business Development, Emami Frank Ross Limited said, “We are delighted to partner with Franchise India as they have a huge presence in the market. Through this association, we are expecting Frank Ross to grow twofold. By utilizing their resources, we are hoping to achieve our goal of acquiring franchises in no time.”
On the collaboration, Gaurav Marya, Chairman, Franchise India Holdings Limited said, “The Indian healthcare market is expected to reach US$ 193.83 billion by 2020 and US$ 372 billion by 2022. The Indian government is taking all necessary initiatives to cater to this largest revenue yielding sector. This further opens up opportunities for the pharmaceutical sector, especially for the brands riding high on the digital wave. Frank Ross ticks all the boxes for being a market leader in this sector. We are extremely thrilled to be working with the team at Frank Ross and are certain that together we will have more success stories to share.”