Wellness Forever
| Wellness Forever Logo | |
| Private | |
| ISIN | 🆔 |
| Industry | |
| Founded 📆 | 2008 |
| Founder 👔 | |
| Headquarters 🏙️ | Mumbai, Maharashtra |
Area served 🗺️ | India |
Key people |
|
| Products 📟 | |
| Services | |
| Members | |
Number of employees | 4000 (2020) |
| 🌐 Website | wellnessforever.com |
| 📇 Address | |
| 📞 telephone | |
Wellness Forever is an Indian pharmaceutical retail-chain company headquartered in Mumbai, India. The company was established in 2008 and founded by Ashraf Biran, Gulshan Bakhtiani and Mohan Chavan.[1] It has pharmacy stores' situated in multiple locations in Mumbai, Pune, Kolhapur and Satara in Maharashtra, and Goa and Karnataka.[2]
History[edit]
In 2015, Wellness Forever had set up its warehouse and logistics facility in Bhiwandi with an investment of ₹90 million (equivalent to ₹Formatting error: invalid input when rounding or US$Formatting error: invalid input when rounding in 2018).[3] In 2019, the company operated 150 stores across multiple cities in India and employed about 3,500 employees in retail.[4] In 2020, the operated stores increased to 200 with 4,000 employees in retail.[5] The revenue during the year grew to ₹683.25 with a net profit of ₹8 crores.[6] The revenue in the financial year 2021 grows to ₹870.79 crores with a net profit of ₹11.25 crores.[6]
Funding[edit]
In 2015, the company raised funding from the consortium of investors with high net-worth individuals (HNI) including family offices Rajiv Dadlani Group, RAAY Global Investments, Thakral Family Companies, Allana Group and others by receiving ₹20 crore (equivalent to ₹Formatting error: invalid input when rounding or US$Formatting error: invalid input when rounding in 2018) for the pharma retail chain.[7] The capital will be utilized in developing the Zero Error Distribution Center (ZEDC) warehousing and logistics facility in Bhiwandi for Pharma, Lifestyle, Wellness and FMCG products.[8]
In 2020, the company raised its third round of funding from Allana Group of IFFCO UAE, Adar Poonawala and other existing investors, including banker Rajiv Dadlani and a venture capitalist Sajid Fazalbhoy with ₹130 crore (US$18 million). The funds will be utilized in expanding their retail presence in the Maharashtra, Goa and Karnataka states.[9]
References[edit]
- ↑ Chanchani, Madhav. "Wellness Forever raises Rs 20 crore from HNIs for pharma retail chain". The Economic Times. Retrieved 2022-03-24.
- ↑ Dhanjal, Swaraj Singh (2021-04-25). "Wellness Forever plans $160 mn IPO". Hindustan Times. Retrieved 2022-03-24.
- ↑ Soumonty Kanungo, Ashish K Tiwari (16 April 2015). "Wellness Forever aims to treble store count, turnover in three years". DNA India. Retrieved 2022-03-24.
- ↑ Shahid, Akhtar (5 June 2019). "The future of retail pharmacy is going to be 'hyperlocal' biz model: Gulshan Bakhtiani - ET HealthWorld". ETHealthworld.com. Retrieved 2022-03-24.
- ↑ Pilla, Viswanath (9 Nov 2020). "Wellness Forever raises Rs 130 cr from UAE's Allana group, Adar Poonawalla and others". Moneycontrol. Retrieved 2022-03-24.
- ↑ 6.0 6.1 Dhanjal, Swaraj Singh (2021-04-26). "Poonawalla-backed Wellness Forever plans $160-mn listing". mint. Retrieved 2022-03-24.
- ↑ Kalavalapalli, Yogendra (2015-04-07). "Pharmacy retail chain Wellness Forever raises Rs20 crore". mint. Retrieved 2022-03-24.
- ↑ Pathak, Kalpana (2015-04-07). "Wellness Forever raises Rs 20 cr from a consortium of investors". Business Standard India. Retrieved 2022-03-29.
- ↑ Shah, Sneha (9 November 2020). "HNI investor consortium pumps Rs 130 crore into Wellness Forever". The Economic Times. Retrieved 2022-06-11.
External links[edit]
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