Chinese Chain Drugstore Gets Capital Injection
This article was originally published in PharmAsia News
Kaixinren, a China drugstore chain, has received a 80 million yuan injection from a Japanese venture capital firm, according to reliable sources. Kaixinren will use the funds to expand and make acquisitions. The company will further raise 200 million yuan this year, aiming to go public in 2009. In recent years, drugstore chains have been losing their low-price advantage and market share. Management issues, lack of funds and industrial talents constitute roadblocks to development. Analysts feel that the only way to invigorate the industry is through improved core competitiveness and formation of large-scale enterprises, driven by capital operation. They advise that chains need a long-term investment strategy, backed by a cautious approach toward expansion. (Click here for more)
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