Lulu Group moving ahead with planned IPO in 2023


October 13, 2022 | By RetailME Bureau

Abu Dhabi-based leading supermarket chain Lulu Group has appointed investment bankers Moelis & Co as advisor for the planned IPO next year, confirmed V. Nandakumar, Director, Marketing & Communications, Lulu Group.

Founded by Yusuffali MA, Lulu Group is one of the largest food and grocery chains with 239 hypermarkets and supermarkets across the GCC.

The retailer is on an aggressive growth path in existing and new markets such as Iraq, North Africa and more. It has sourcing offices in 23 countries including the US, the UK, Spain, Italy, Turkey, Far East and China, which ensures uninterrupted supply to all its hypermarkets.

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