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Shoppers Drug Mart

Shoppers Drug Mart Corporation
Private
Industry Drugstore, Retail
Founded 1962
Headquarters Toronto, Ontario, Canada
Key people
Murray Koffler, founder
Mike Motz, President, Shoppers Drug Mart, Division of Loblaws
Products Drugs, Health
Parent Loblaw Companies
Website www.shoppersdrugmart.ca

Footnotes / references
Number of Shoppers Drug Mart and Pharmaprix stores: 1,253

Number of Home Health Care stores: 62
Pharmaprix store

Shoppers Drug Mart Corporation is Canada's largest retail pharmacy chain, and has its headquarters in North York, Toronto, Ontario.[1] It has more than 1,253 stores operating under the names Shoppers Drug Mart in nine provinces and two territories and Pharmaprix in Quebec.

Founded by Murray Koffler, the Koffler family still retains ownership of the Super-Pharm pharmacy which is in Israel, Poland, and China. Super-Pharm uses the same logo as Shoppers Drug Mart. It also uses some of the same private-label brands, such as Life Brand and Quo. In 2014 Loblaw Companies acquired Shoppers Drug Mart Corporation for $12.4 billion in cash and stock.

Contents

  • Overview 1
  • History 2
  • Shoppers Optimum 3
  • Advertising 4
  • References 5
  • External links 6

Overview

A Shoppers Drug Mart store in Sussex, New Brunswick

Shoppers Drug Mart Corporation is the licensor of full-service retail drug and convenience stores operating under the names Shoppers Drug Mart in English speaking Canada and Pharmaprix in Quebec. Founded in 1962 by Toronto pharmacist Murray Koffler, the company has expanded to a network of more than 1,253 Shoppers Drug Mart/Pharmaprix stores across Canada. These stores are owned and operated by Associate-Owners, all of whom are licensed pharmacists. The company also licenses or owns more than 56 medical clinic pharmacies operating under the names Shoppers Simply Pharmacy (Pharmaprix Simplement Sants in Quebec), as well as six luxury beauty destinations operating as Murale.

In addition to its retail formats, the company owns and operates several specialty services. This includes 62 Shoppers Home Health Care stores, which sell and service assisted-living devices, home-care products, and mobility and medical equipment; Shoppers Drug Mart Specialty Health Network, a provider of specialty drug distribution, pharmacy and comprehensive patient support services, and; MediSystem Technologies Inc., a provider of pharmaceutical products and clinical services to long-term care facilities and retirement communities.[2] Shoppers Drug Mart is a unique and independent operating division of Loblaw Companies Limited.

History

A Shoppers Drug Mart in Markham.
A Shoppers Drug Mart location on Dupont Street in Toronto, Ontario.
Shoppers Drug Mart in a historic building in downtown Toronto.

At the age of twenty, Murray Koffler inherited two Koffler's Drugs pharmacies in suburban Toronto (one in the Don Mills Centre shopping mall). By 1962, Koffler's had grown to a chain of 17 pharmacies, which he renamed "Shoppers Drug Mart" in the 1970s. The first store named "Shoppers Drug Mart" was at Shoppers World Danforth from which it derived the name.

Koffler revamped the concept of the 20th century “drug store” in Canada by removing the

In 2000, after Imperial Tobacco had been taken over by BAT Industries (formerly British American Tobacco), Shoppers was sold to a consortium of institutional investors including Kohlberg Kravis Roberts & Co. (KKR), Bain Capital, Inc., DLJ Merchant Banking Partners, Charlesbank Capital Partners, Ontario Teachers' Pension Plan, CIBC Capital Partners, and Shoppers Drug Mart's senior management and pharmacist/owners.

In 2001, Glenn Murphy was appointed Chairman and Chief Executive Officer of the Company. In November of that same year, Shoppers Drug Mart Corporation was publicly listed on the Toronto Stock Exchange.

In 2002, Shoppers Drug Mart introduced its first large format stores, with more space, a sleek and modern look, and a stronger focus on cosmetic products. Typically the cosmetics section faces the entrance, with the pharmacy counter at the back and a convenience food section, called Food Essentials, near the front cash. In most suburban areas, this new format takes the form of new or relocated store, typically stand-alone "big-box" locations as opposed to smaller mall or strip-mall locations.

In 2003, Shoppers Drug Mart introduced its first beautyBOUTIQUE, setting a new standard for the industry with its open-sell display and unbiased approach to customer service in prestige cosmetic retailing. Today, there are 364 beautyBOUTIQUES across the country.

On April 26, 2007, the 1000th Shoppers Drug Mart store opened in Toronto, Ontario.[3]

In recent years, the chain has been moving to decrease its reliance on pharmaceutical sales and increase sales of what it calls "front of store" items, such as food and cosmetics. The store claims that in 2012, it increased its market share in food and that 51% of purchases now come from non-pharmaceutical items.[4]

On July 15, 2013, Loblaw Companies announced that it would acquire Shoppers Drug Mart for $12.4 billion.[5] If it receives regulatory and shareholder approval, this deal will mark the largest ever takeover of a Canadian retailer. After the sale is closed, Loblaw will keep the Shoppers Drug Mart brand. President's Choice products could appear at Shoppers Drug Mart while the Life brand could appear at other Loblaw stores like Real Canadian Superstore and Loblaws. The Shoppers Optimum program might be kept or merged with PC Plus or PC Points within the next 3 years after the sale closes.[6]

The firm's shareholders voted in favour of a buy out bid from Loblaw Companies in September 2013 for $12.02 billion.[7] The Competition Bureau of Canada approved the merger between the two companies on March 21, 2014 and the acquisition was completed on March 28, 2014.[8]

Shoppers Optimum

Shoppers Optimum is a loyalty card program that is exclusive to Shoppers Drug Mart/Pharmaprix stores. Members collect Shoppers Optimum points that may be redeemed on purchases within the store. Shoppers Optimum members receive 10 points for every dollar spent at the store. This excludes the purchase of lottery, tobacco products, transit tickets and passes, prescription items, any products containing codeine, Canada Post products and gift cards (except Shoppers gift cards). Events for bonus point collecting and/or redemption (e.g. 20x the points, bonus redemption) are regularly held. With Loblaw buying Shoppers Drug Mart, there are no planned changes to Shoppers Optimum in favour of PC Plus and PC Points.[9]

Advertising

  • "You're Gonna Be Happy."—Early - mid 1980s
  • "Everything you Want in a Drugstore"—1980s and the early-1990s
  • "Take Care of Yourself"—2000 to 2002
  • "Your Life Store"—2002 to present (French variant: Vive la vie!, i.e. "Long live life!"), to go with its own featured "Life" trade brand.
  • "Gifts Made Easy"—holiday campaign, 2006 to present

References

  1. ^ "Contact Us." Shoppers Drug Mart. Retrieved on December 7, 2012. "Head Office Location: 243 Consumers Rd Toronto, ON M2J 4W8"
  2. ^ http://corporate.shoppersdrugmart.ca/en-ca/about-us/our-company
  3. ^ "Shoppers Drug Mart opens its 1,000th drug store in Canada". Shoppers Drug Mart Corporation. April 26, 2007. Retrieved November 4, 2010. 
  4. ^ http://www.canadiangrocer.com/top-stories/shoppers-drug-mart-to-build-closer-ties-between-food-and-pharma-20130
  5. ^ "Loblaw to buy Shoppers Drug Mart for $12.4B".  
  6. ^ "Loblaw to buy Shoppers Drug Mart for $12.4-billion".  
  7. ^ Solarina Ho (12 September 2013). "Shoppers Drug Mart shareholders vote to accept Loblaw's buyout bid". Reuters. 
  8. ^ "Loblaw Companies Limited Obtains Approval from Competition Bureau and Sets Closing Date for Acquisition of Shoppers Drug Mart Corporation". 21 March 2014. 
  9. ^ "Loblaw to buy Shoppers Drug Mart for $12.4B". Toronto Star. July 15, 2013. Retrieved February 18, 2015. 

External links

  • Shoppers Drug Mart
  • Pharmaprix
  • Murale
  • Shoppers Photo
  • Shoppers HomeHealthCare
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