LuLu to invest $500m in south-east Asia expansion

RetailME Bureau

UAE-based LuLu Group will invest $500 million in its expansion into south-east Asia, says managing director Yusuffali MA.

The expansion plan will include setting up hypermarkets in Malaysia and Indonesia and money exchanges in Thailand and Vietnam. The company will also explore opportunities in Hong Kong. The first hypermarket in Malaysia is expected to open in Q3 this year, followed by five more, all of which will be halal-only.

The stores there will provide direct jobs for 2,500 Malaysians and indirect employment to 5,000.