FPT Retail boldly bets on Long Chau pharmacy chain
FPT Digital Retail JSC, widely known as FPT Retail, is rapidly expanding its Long Chau pharmacy network to cement its position as the largest medicine retailer in Vietnam while other rivals are downsizing operations or slowing expansion.
Despite economic headwinds, FPT Retail opened 560 pharmacies in 2023, raising the total number of Long Chau outlets to 1,497, becoming the No.1 pharmacy chain in the country and gaining a larger market share.
This rapid expansion has helped FPT Retail shares, listed on the Ho Chi Minh Stock Exchange (HoSE) as FRT, rally over the past fortnight from VND99,000 to an all-time high of VND125,000 ($5.12) apiece on February 7, the last trading day before the one-week Lunar New Year break.
FRT prices have more than doubled compared to May 2023 when they were traded at around VND54,900.

Movements of FRT shares over the past three months. Chart source: TradingView
Meanwhile, Pharmacity, which used to be the largest medicine retailer as of mid-2022 with over 1,100 stores, had reduced its network to below 1,000 outlets as of end-March last year.
Similarly, the An Khang pharmacy chain of Mobile World Investment Corporation (listed on the HoSE as MWG) has shown signs of losing steam, closing 2023 with 527 stores after swiftly expanding its network to 500 outlets in 2022.
FPT Retail is targeting not only urban areas but also capitals of districts nationwide where rentals and labor costs are low, helping it reach the break-even point faster. As medicines are of vital need, consumer spending does not alter much during an economic crisis, according to the company’s leadership.
The medicine segment now accounts for around 60% of FPT Retail’s revenue while the percentage of rivals Pharmacity and An Khang is below 50%. Its diversified portfolio has helped FPT Retail gain market shares for prescription medicines.
In 2023, its medicine business brought about VND15.88 trillion ($650 million) in revenue, up 66% year-on-year. This business also helped grow FPT Retail’s 2023 revenue by 6% year-on-year while the firm's ICT business saw its revenue fall 22%.
Given its expansionary phase, the pharmacy network contributed nearly VND150 billion to FPT Retail, tripling from 2022. This business earned a profit of nearly VND5 billion ($204,700) in 2021, its first profitable year.
According to SSI Research, FPT Retail has the ambition to open 2,500-3,000 Long Chau stores in the next few years, or double the current number. With larger scale, the chain will have more advantages in finding direct suppliers and optimizing the efficiency of warehouse and logistics facilities, thereby gradually improving profits.

A Long Chau pharmaceutical store. Photo courtesy of the company.
The average revenue of a pharmacy was nearly VND1.1 billion ($45,000) per month during 2023. Meanwhile, a store is only profitable when its monthly revenue reaches VND500-600 million ($20,470-24,570), according to chairwoman of FPT Retail Nguyen Bach Diep.
Expanding beyond pharmacies
As per its development strategy, FPT Retail, with 46.54% owned by tech giant FPT Corp. and 7.96% by a Dragon Capital-led group, aims to introduce a series of new healthcare services and products to increase revenue per pharmacy, Diep revealed.
In 2023, FPT Retail incorporated vaccination services to the Long Chau pharmacy chain. The vaccine coverage rate in Vietnam is only about 4% of the population while that in other regional countries is 15-30%. Therefore, the growth room for vaccination services remains huge.
Since its inception last July, FPT Retail has opened 30 vaccination centers in a large number of provinces and cities like Hanoi, Ho Chi Minh City, Nghe An, Bac Ninh, Phu Yen, Tay Ninh, and Bac Giang.
Notably, on January 29, the Long Chau chain and Asia's leading private healthcare group IHH Healthcare signed a strategic cooperation deal with the goal of bringing advanced medicine closer to Vietnamese people.
On this occasion, Long Chau announced its expansion into the Vietnamese healthcare ecosystem. As such, besides its medicine retail business, the chain operator will gradually build an ecosystem to serve medical needs from disease prevention to treatment, especially complicated diseases such as cancer that require advanced medical techniques.
- Read More
Gelex Electric majority shareholder of new tech firm
Gelex Electric, under Vietnam's leading multi-sector corporation Gelex Group, has announced a board decision on capital contribution to establish a technology company, bringing its subsidiaries to 10.
Companies - Tue, May 13, 2025 | 9:25 pm GMT+7
Vietnam’s auto sales in April increase 21% year-on-year
The Vietnam Automobile Manufacturers’ Association (VAMA) on Tuesday said that its members, not including VinFast and Hyundai, reported sales of 29,585 units in April, down 7% month-on-month but up 21% year-on-year.
Companies - Tue, May 13, 2025 | 9:16 pm GMT+7
Malaysia a prime site for nuclear plants: expert
Malaysia is a logical choice to host nuclear power plants given that it is less prone to tectonic activities such as earthquakes compared with its Southeast Asian neighbors, according to an expert.
Southeast Asia - Tue, May 13, 2025 | 9:07 pm GMT+7
Thailand sends trade proposal to US
Thailand has sent a trade proposal to the U.S., Prime Minister Paetongtarn Shinawatra said on Tuesday, as her government seeks negotiations to reduce U.S. tariffs.
Southeast Asia - Tue, May 13, 2025 | 9:01 pm GMT+7
UOB forecasts USD price at VND26,100 in Q2, VND26,300 in Q3
Singaporean bank UOB's updated forecasts on the price of USD against the Vietnamese dong (VND) are 26,100 in Q2/2025, 26,300 in Q3, 26,000 in Q4, and 25,800 in Q1/2026.
Banking - Tue, May 13, 2025 | 4:15 pm GMT+7
US’s manufacturing service provider Key Tronic expanding in Vietnam despite tariff uncertainties
Key Tronic, a leading American design and manufacturing service provider, is proceeding with the buildout of new production capacity in Arkansas (U.S.) and Vietnam despite tariff uncertainties.
Industries - Tue, May 13, 2025 | 4:01 pm GMT+7
Motorbike maker Piaggio plans €26 mln paint shop at Vietnam plant
Italian motorbike manufacturer Piaggio plans to build a new paint shop at its factory in Vietnam by 2027, with an expected investment of €26 million, according to its 2024 financial statements.
Industries - Tue, May 13, 2025 | 3:37 pm GMT+7
Vietnam stands out in human development amid global slowdown: UNDP
As the world enters the age of artificial intelligence (AI), Vietnam continues to maintain a strong standing in human development, defying a global slowdown, according to the United Nations Development Programme's (UNDP) 2025 Human Development Report.
Southeast Asia - Tue, May 13, 2025 | 3:26 pm GMT+7
Apple supplier Wistron plans 30% output boost in northern Vietnam
Wistron Infocomm (Vietnam) Co., Ltd, under Taiwan-headquartered electronics manufacturer Wistron - a supplier to Apple, will increase its output in the northern province of Ha Nam by 30% and hire over 3,000 workers in the time ahead to support the ramp-up.
Industries - Tue, May 13, 2025 | 3:01 pm GMT+7
Stock of Vingroup’s hospitality arm Vinpearl hits ceiling price in market debut
VPL, the ticker of Vinpearl JSC - the hospitality subsidiary of Vietnam's leading conglomerate Vingroup, surged 20% to its ceiling price of VND85,500 ($3.29) per share within the first trading hours on the Ho Chi Minh bourse Tuesday morning.
Finance - Tue, May 13, 2025 | 12:39 pm GMT+7
Vietnam welcomes Swedish investment expansion in digital economy, infrastructure: PM
Vietnam welcomes Swedish companies to further invest in the areas that they have strengths in and align with Vietnam’s development priorities like the digital economy, infrastructure, and information-communication technology.
Economy - Tue, May 13, 2025 | 12:04 pm GMT+7
Vietnam, Belarus issue joint statement on establishing strategic partnership
Vietnam's Party General Secretary To Lam and Belarusian President Aleksandr Lukashenko have signed a joint statement officially establishing a strategic partnership between Vietnam and Belarus, during the Vietnamese leader’s state visit on May 11-12.
Politics - Tue, May 13, 2025 | 11:23 am GMT+7
CEO of Covid-19 vaccine developer Nanogen dies at 59
Ho Nhan, CEO of Nanogen - the first Vietnamese company to conduct clinical trials for a Covid-19 vaccine, passed away on Monday at the age of 59 due to heart disease.
Companies - Tue, May 13, 2025 | 11:09 am GMT+7
How easing US-China trade tensions could impact Vietnam's benchmark VN-Index?
Analysts have turned bullish on Vietnam's benchmark VN-Index as the U.S.-China reached a positive tariff deal, delivering a wave of upbeat signals to financial investors.
Finance - Tue, May 13, 2025 | 10:50 am GMT+7
Vietnam's leading property developer Novaland denies 'panic selling' amid chairman-linked share divestments
Novaland has denied allegations of panic selling following major planned divestments by entities linked to its chairman Bui Thanh Nhon, affirming that the moves are strategic steps to support its ongoing debt restructuring, not signs of instability.
Companies - Tue, May 13, 2025 | 8:17 am GMT+7
Vietnam's leading dairy firm TH Group inaugurates large-scale plant in Russia
TH Group inaugurated its state-of-the-art fresh milk processing plant in Borovsk district in Kaluga oblast of Russia on Sunday.
Companies - Mon, May 12, 2025 | 10:37 pm GMT+7