Lulu Group On Track With $2.9 Billion Expansion Plan
Middle East’s largest organised retail chain, has announced that it is on track with its plan to invest $2.9 billion to open 91 new hypermarkets and stores in four years, from 2020 to 2023. Lulu Group International is one of the few retailers that continued expansion during the Covid-19 pandemic by opening 50 large-format outlets, […]
Topics
Middle East’s largest organised retail chain, has announced that it is on track with its plan to invest $2.9 billion to open 91 new hypermarkets and stores in four years, from 2020 to 2023.
Lulu Group International is one of the few retailers that continued expansion during the Covid-19 pandemic by opening 50 large-format outlets, including 44 hypermarkets and 6 fulfilment centres from 2020 till date despite the impact of Covid-19 pandemic, taking the number of its hypermarkets, shopping malls and fulfilment centres to 235 across 12 countries including the GCC, India, Malaysia, Indonesia and Egypt.
“Despite continued headwinds including Covid-19 and other challenges, we have continued to expand our operations across the world; we never stopped growing,” said Nandakumar Vijayan, Director of Marketing and Corporate Communications at Lulu Group International, said at the RetailME Tech & Marcoms Summit taking place at the Conrad Dubai Hotel.
“Despite the outbreak of COVID-19, we opened 9 hypermarkets and 2 dark stores in 2020 and 24 hypermarkets and three stores in 2021 – at the height of the pandemic. We continue with our expansion this year despite the challenging environment. We have already opened 14 hypermarket and 1 store so far in 2022 with 11 more to open by the end of this year.”
Lulu Group also has sourcing and regional offices in the United States, United Kingdom, China, Turkey, India, Malaysia, Indonesia, Thailand, the Philippines, Vietnam, South Africa and Uganda. The group employs 57,000 professionals across the world. It has also partnered with the UAE Government to support the UAE’s food security programme, by supplying foodstuff and consumer goods at an affordable price to protect the UAE consumers from inflationary pressure.
“Since 2020, we are part of the UAE Food Security programme and have been supporting the government’s initiatives to supply products at an affordable price,” he added.
