Wellness Forever raises INR 1.3 Billion from Allana group, Adar Poonawalla

New Delhi: Pharmacy chain Wellness forever raised INR 1.3 Billion from Allana Group, Adar Poonawalla. Banker and renowned investor Rajiv Dadlani and venture capitalist Sajid Fazalbhoy are the existing investers.

The Company claims to have over 4,000 employs among which there are 800 qualified pharmacists and 1 million paid customers. The release said, The company is growing 35% YoY with best in class retail metrics.

Rajiv Dadlani, lead investor in the Company, said “We are very impressed with their growth, profitability, capital allocation, vision and ethics."

Sharing his views Gulshan Bhaktiani, Founder & Director said, “We are extremely happy with the support and trust that our investors have shown in us. Moreover we are grateful to our customers who have shown trust in our services which has helped us in expanding our network."

Wellness Forever, once a start-up now claims to have a clocking revenue of over Rs. 1,000 crores the current fiscal year. The Company has swiftly expanded its footprint with over 200 stores in three states - Maharashtra, Goa, Karnataka. With an aim to expand it's business the company aims to add 150 stores in next year and 1000 retail outlets in the upcoming three years.

Funds will be utilized for store expansion, strengthening their highly profitable private label brands which are under its 100% subsidiary Amore which focuses on Wellness and Health products and invest more in e-commerce.