UAE-based Emke Group, which runs the Lulu chain of supermarkets, has been named among the fastest growing retailers in the world over a five-year period. The company, was ranked 11th in a list of the biggest growing retail businesses published by Deloitte, which also listed the world’s 250 biggest names in the sector.
According to Deloitte, the retailer averaged CAGR of more than 25% between 2007 and 2012 and the group’s revenues in 2012 exceeded $4.5 billion. Emke Group is the only entry in the global 250 list (ranked 197th), which was headed by US giant Walmart whose revenues in 2012 stood at $469 billion, followed by the UK’s Tesco.
Emke Group plans to open 42 new Lulu Hypermarkets in the next two years. It will open seven new hypermarkets in the UAE in 2014-15, six in Oman, four each in Qatar and Kuwait, three each in Bahrain and Egypt and 15 in Saudi Arabia. New markets are also being pursued in Malaysia, Indonesia, Iraq, Algeria, Morocco and Libya. To beef up its retail and exports business, the group was also seen investing heavily in developing a logistics centre and cold storage facility in Kochi.