Session
In this fireside chat, Jack Gance reflects on building Chemist Warehouse into one of Australia’s most successful healthcare retail businesses. This conversation will explore how to spot opportunity in complex markets, deploy capital with conviction, and scale within a highly
regulated environment; offering practical insights for investors navigating healthcare and consumer-led models.
Jack Gance opened his first pharmacy store in 1972, promptly developing a distribution business through pharmacy. He created the Le Specs, Le Tan, Australis and Colours of Australia brands of sunglasses, suntan lotion, fragrances and cosmetics. Through his operation, Jack created the largest pharmacy distributor business in Australia. He sold that business in 1991, and after completing an MBA at Monash and NYU Stern School of Business, he returned to pharmacy to revolutionise the industry.
By 1993, Jack was running 35 stores through the My Chemist Pharmacy chain. This had phenomenal growth over the years, with 50 stores by the year 2000. It was then that Jack decided to radically change the face of pharmacy. Chemist Warehouse was created, becoming a major industry disruptor of the industry. Chemist Warehouse took the industry by storm, allowing Jack, his partners and team create a multibillion-dollar chain, commanding over 50% market share front of store and around 20% of all prescriptions.
It is now in New Zealand with around $1.3 B sales out of 57 stores. Ireland with over 12 stores and has 3 succesful stores in Dubai.
With over 650 stores world wide and over $10 Billion sales Chemist warehouse is well placed for further expansion nationally and internationally In 2024 Chemist Warehouse underwent a rverse take over of Sigma on of Australias largest wholesalers and is now a Public Listed company with a market cap of over A$34Billion and arguably the largest successful Pharmacy group in the world.