The Generics Pharmacy goes into cosmetics, personal care products

The Generics Pharmacy Franchising Corporation is firming up plans for its to foray into selling its own line of personal care and cosmetic products within two years and targets to have 2,000 outlets nationwide by 2015. 

 

“In two years, we’ll be having personal care and cosmetics under our own brand,” Benjamin Luison, The Generics Pharmacy president, told reporters at the sidelines of a business forum in Makati City late Tuesday.

 

Luison said the company is already “starting talks with manufacturers… What we want to do is buy our products from manufacturers and market it under own brand,” he added. 

 

The concept is be similar to what the company did with its pharmaceutical line – tapping domestic and regional manufacturers.

 

“Just like our medicines, much of it will be sourced locally,” Luison said, noting that 80 percent of their products are manufactured in the Philippines. 

 

While the company is firming up plans for other products, Luison said it will continue to focus on putting-up more franchises nationwide. 

 

“Our goal is to expand the number of outlets by 150 per year, reaching 2,000 stores by 2015,” he said. 

 

“We see to it that each site will service the population to the fullest to make the business viable,” Luison said when asked if the company is killing its own business by saturating the market with outlets. 

 

“We have a minimum number of kilometers space for each outlet,” he added. 

 

The total investment a The Generics Pharmacy franchise is P600,000 to P800,000 including franchise fee as well as a total support system necessary to run the store, the company’s website said.  

 

The company said 1,500 outlets in the Philippine, but only two are actually company-owned and the bulk is run by 300 franchisees, Luizon said.

 

Founded in 2008, The Generics Pharmacy provides a cheaper alternative – called generics – to branded and expensive medicines. — Siegfrid Alegado/VS, GMA News