Walgreens-funded Pharmacy Chain 36.6 expecting exponential online sales growth

MOSCOW — Walgreens Boots Alliance-funded Russian health and beauty products retailer Pharmacy Chain 36.6 expects online sales to account for 10% of total revenue by mid-2018 from just 1% now, its corporate finance director told Reuters.

To achieve its online sales target, the company has teamed up with online retailer Ozon.ru in March, but said growth will also come from sales through its own websites, 36.6 and Gorzdrav, the news source reported.

Walgreens Boots Alliance took a 15% stake in the pharmacy retailer last year in exchange for its local wholesale business, is supporting the development of its online project, added the news outlet.

Pharmacy Chain 36.6 is also looking to increase the share of its own brands to 30% by the end of the year.

First-quarter revenue at the second-largest pharmacy chain in Russia rose 10%, finance chief, Yury Gusarov, told Reuters in an emailed interview.

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