In this episode of 'The Wisdom Of' Show, host Simon Bowen speaks with Jack Gance, Chairman and Co-Founder of Chemist Warehouse. From opening his first pharmacy in 1972 to creating a multi-billion-dollar retail giant with over 600 stores, Jack shares his customer-first philosophy that transformed Australian retail. Discover his insights on maintaining culture through scale, the power of founder unanimity, the delicate balance between online and in-store experiences, and why true customer focus means imagining yourself on the receiving end of every interaction your business creates.

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Episode Breakdown

00:00 Introduction and Jack's extensive background in pharmacy retail

05:18 Customer value as a driving force rather than disruption

12:36 How Chemist Warehouse expands markets rather than stealing share

18:52 Supplier relationships and creating win-win partnerships

25:44 Maintaining consistent culture across 600+ stores

33:29 The power of unanimous decision-making among founders

38:22 Why testing small before scaling saved millions in mistakes

45:36 The surprising economics of online vs. in-store retail

52:12 The future of retail: technology vs. human connection

58:43 The ultimate customer experience test and legacy building

About Jack Gance

Jack Gance opened his first pharmacy store in 1972, developing a successful distribution business through pharmacy before creating iconic Australian brands including Le Specs, Le Tan, Australis, and Colours of Australia. After building the largest pharmacy distributor business in Australia (which he sold in 1991), Jack completed an MBA at Monash and NYU Stern School of Business before returning to revolutionize the pharmacy industry.

By 1993, Jack was running 35 stores through the My Chemist Pharmacy chain, which grew to 50 stores by 2000. He then created Chemist Warehouse, which became a major industry disruptor, commanding over 50% market share front of store and around 20% of all prescriptions written in Australia.

Recently, Chemist Warehouse joined with Sigma Healthcare to create a $32 billion retail and pharmaceutical distribution powerhouse. Throughout his career, Jack has remained focused on his founding philosophy: "We are building this for our kids and grandkids, ensuring that we pass down a substantial, sustainable and successful business."

Connect with Jack

LinkedIn: https://www.linkedin.com/in/jack-gance-96a38418/

Website: https://www.chemistwarehouse.com.au/

About Simon Bowen

Simon has spent over two decades working with influential leaders across complex industries. His focus is on elevating thinking in organizations, recognizing that success is directly proportional to the quality of thinking and ideas within a business. Simon leads the renaissance of thinking through his work with global leaders and organizations.

Connect with Simon

LinkedIn: https://www.linkedin.com/in/simonbowen-mm/

Instagram: https://www.instagram.com/officialsimonbowen/

Website: https://thesimonbowen.com/

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