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Best of beauty and dispensary stability, secret to Priceline’s success

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Priceline Pharmacy celebrates the 15th anniversary of its first pharmacy store  in the same month its first retail store at Highpoint, Victoria, converted to a pharmacy

Priceline Pharmacy Pakenham first opened its doors in 2002, and during that time the store network has grown from 140 to 462 stores with more than 315 now pharmacies–making up 70% of all stores.
“These two stores have been fundamental to our development of the brand. Our franchise partners have been the growth driver for Priceline Pharmacy and their commitment enables our network to continually evolve. I look forward to forging relationships with new franchise partners as we continue to grow,” said Richard Vincent, CEO and managing director, Priceline Pharmacy (API).
Richard acknowledged and thanked the hard working teams at both brand-defining stores, including Pakenham founding franchise partners Jeff Thom, Karen Dougall and Andrew Rewell; and Highpoint franchise partner Samir Khreish.
“Jeff, Karen and Andrew were instrumental in changing the direction of the Priceline brand to enter the pharmacy world and they’ve helped create one of the most recognised retailers in Australia,” Richard said.
Pakenham founding franchise partner Andrew said the premise of aligning a pharmacy with a strong retail brand 15 years ago was to improve front of shop sales with consequential increased returns on the inventory, the floor space and the labour.
“Priceline sold all the sort of stock that most pharmacies sold, however when you went in to a Priceline store it was easy to see that it was much busier than the pharmacies selling that same stock. It occurred to me that Priceline clearly knew something about retailing and marketing that pharmacy was lacking at the time,” said Andrew.
The strong combination of providing the best beauty offer with the stability of a dispensary is evident in the growing number of pharmacies with the network including the brand’s heritage store. The brand’s first ever store opened in 1982 at Highpoint and recently converted into a pharmacy.
“If you want consistency, customer recognition and to be able to support the back end of the store by adding extra retail sales you’ve got to join Priceline Pharmacy, I can’t think of any other brand out there that you could join that can enhance the front of shop sales for you like Priceline Pharmacy,” Samir said.

Pictured: Jeff Thom, Karen Dougall and Andrew Rewell

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