Reliance Retail Opens First Netmeds Offline Pharmacy Store In Chennai
Reliance Retail, which acquired 60% of Netmeds parent Vitalic Health for INR 620 Cr in 2020, moves into brick-and-mortar pharma with a Chennai store, setting up a direct offline-online clash with 1mg and PharmEasy.
Reliance Retail opens first Netmeds offline pharmacy store in Chennai, expanding into brick-and-mortar pharma retail alongside its online delivery network, competing with 1mg and PharmEasy.
Why this matters
Comes as Reliance Retail scales JioMart and dark stores toward a 2x EBITDA target by FY29, even after a 20-quarter revenue low, showing continued omni-channel push despite topline pressure.
Omni-channel signals steady at 1,212 in 90 days, no major QoQ shift reported.