Pharmacy chain set to open

Retail giant Chemist Warehouse is expected to open its first New Zealand store in Auckland’s St Lukes this week.

The pharmacy chain sells discounted self-care and medical products, supplements, vitamins, perfumes, and medical scripts through more than 400 of its Australian stores.

Chemist Warehouse started advertising for staff in August and was supposed to open over Labour weekend, according to staff from neighbouring stores, but remains closed.

The company reported a A$4.4 billion (NZ$4.8b) turnover last year. It is the sixth biggest retailer in Australia.

Its main competitor in New Zealand is Green Cross Health, which owns Life and Unichem pharmacies, with revenue in the year to June of $488 million.

Former chief executive of Radius Pharmacy Group Mike Seymour said in August, Chemist Warehouse would bring a supermarket mentality to the pharmacy sector in New Zealand, and focus on a high volume of different products at low prices.

‘‘I think Green Cross are under prepared for an assault,’’ Seymour said.

First Retail manager Chris Wilkinson said that while the chain was not a household name in New Zealand, the store was likely to appeal to shoppers with its bulk merchandise and cheap pricing.

‘‘This will have a transformational effect on consumer expectations and shopping patterns for traditional pharmacy products, but also other consumer lines that were once unique to pharmacy but have shifted to supermarkets and the discount chains like The Warehouse,’’ he said.