UAE-based Emke Group, which operates the Lulu chain of hypermarkets, has planned to acquire a stake in the British trading firm The East India Company that produces global luxury brands.
According to reports, Emke Group is expected to acquire almost 10% in The East India Company. The Group will also own nearly 40% shares in The East India Company Fine Foods, which is a subsidiary of The East India Company. The deal is likely to be signed this week, wfter which The East India Company products will be sold across Lulu hypermarkets in Middle East and India.
Emke Group operates across fields such as retail, hospitality, general trade, food processing, manufacturing and export. The group currently has 110 supermarkets and hypermarkets across the Gulf, Yemen, Egypt and India.