Lulu Group ranks as 25th fastest growing retailer globally


January 26, 2016 | By RetailME Bureau

One of Middle East’s major retail conglomerates, the Lulu Group is ranked as the 25th fastest growing retailer globally, while occupying the 165th position in the 19th annual edition of Deloitte’s Global Powers of Retailing.

The Lulu Group currently operates 121 hypermarkets and supermarkets across the MENA region and India. According to the National Retail Federation, the group recorded an annual retail sales turnover of $5.8 billion last year. In addition, Lulu has been on an aggressive expansion drive announcing large investments in Egypt, Bahrain, Saudi Arabia, India, Indonesia and Malaysia to the tune of almost $1.7 billion.

“I am very confident of the regional retail market and like in the past, will not slow down our expansion plans. The current negative sentiments on the market are temporary phenomena and companies with strong fundamentals and long-term vision will march ahead. Next two years are very crucial for us as we embark on new markets of Egypt, Malaysia, Indonesia while strengthening our presence in the GCC and India,” states Lulu Group chairman Yususffali MA, while commenting on the Deloitte report.

“Online is another area where we are going to focus more. Our luluwebstore that was primarily into consumer durables and electronics is now selling grocery and food products giving multi-channel shopping experience to our shoppers,” he adds.

Another Middle East retailer, Al-Futtaim Group was ranked at 172nd position. Globally Walmart topped the list with revenues of $485 billion in 2014, followed by Costco Wholesale Corporation and The Kroger Co., both from the US. However, UK retailer Tesco, which announced its worst ever results last year in UK’s biggest retail loss, was pushed to fifth position.

According to the Deloitte report, most emerging markets suffered as capital outflows put downward pressure on currencies. This led central banks to raise interest rates, thereby dampening growth. During this period Brazil and Russia fell into recession, but India’s economy accelerated, helped by lower energy prices and an easing of monetary policy. Despite tough economic conditions, revenues for the world’s 250 largest retailers reached $4.5 trillion in fiscal 2014, an average size of nearly $18 billion per company.

Every year Deloitte’s Global Powers of Retailing identifies the 250 largest retailers around the world based on publicly available data for fiscal, analysing their performance based on geographic region, primary product sector, e-commerce activity and other factors.  

Comments

comments

Previous Article Next Article

SHARE

YOU MAY ALSO LIKE /


Carrefour onboards female-led start-up The Zola Collective

Carrefour, which is owned and operated by Majid Al Futtaim in the 

Continue Reading

January 31, 2023 | By RetailME Bureau
A new branch of Waitrose comes up in Abu Dhabi’s Khalifa City

British grocer Waitrose has opened its newest store in Abu Dhabi’s Khalifa 

Continue Reading

January 25, 2023 | By RetailME Bureau
Its Netherlands Food Week at Al Maya Supermarkets

UAE-based Al Maya Supermarkets has kicked off its ‘Netherlands Food Week’ that 

Continue Reading

January 20, 2023 | By RetailME Bureau
Tesco announces price lock to support consumers amid inflation (PC: Andrew Parsons / Parsons Media)

British grocery retail chain Tesco has announced a price lock on over 

Continue Reading

January 13, 2023 | By RetailME Bureau
Union Coop renews ISO certification

Dubai-based grocery retailer Union Coop has successfully obtained the ISO 22301, an 

Continue Reading

January 12, 2023 | By RetailME Bureau
Spanish supermarket chain Mercadona announces salary increase amid inflation (PC: Mercadona)

Spanish omnichannel supermarket chain Mercadona has announced salary increase amid inflation that 

Continue Reading

January 3, 2023 | By RetailME Bureau
Choithrams partners with Rove Hotels to open 8 new outlets

Grocery retail chain Choithrams will open eight convenience stores across Rove Hotels’ 

Continue Reading

December 30, 2022 | By RetailME Bureau
Géant to open more than 20 stores in the UAE in 2023

Part of regional retail conglomerate GMG, Géant plans to open more than 

Continue Reading

December 23, 2022 | By RetailME Bureau
FMCG online sales growing by 68% in UAE and 58% in KSA

Online share in FMCG sales has been growing all over the world, 

Continue Reading

December 19, 2022 | By RetailME Bureau
Majid Al Futtaim Retail, Standard Chartered launch region’s first Sustainable Supply Chain Finance Programme

Majid Al Futtaim Retail, operator of the Carrefour franchise in the Middle 

Continue Reading

December 15, 2022 | By RetailME Bureau
GMG and Silal partner to support 1,100 UAE farms access local retail market

UAE-based diversified conglomerate GMG and Silal have signed a memorandum of understanding 

Continue Reading

December 12, 2022 | By RetailME Bureau
Lulu Group partners with Amazon expanding grocery offerings to online customers in the UAE

Abu Dhabi based grocery retail chain Lulu Group has partnered with Amazon 

Continue Reading

November 24, 2022 | By RetailME Bureau




f
Download Images RetailME Magazine