UAE-based retail giant LuLu Group has announced its expansion plan for 2019 which includes the opening of 32 hypermarkets and shopping malls.
The retail giant with more 164 stores operating worldwide said that 29 hypermarkets will be in the GCC region, with 12 in the UAE alone.
The announcement came on the sidelines of the launching of its newest store in Sharjah, which spread over 100,000 square feet, with three levels of the international product range.
Founded by Middle East retail king, M.A. Yusuff Ali, LuLu Group has become a key contributor in the Gulf region’s economic standing, with an annual turnover worth $8.1billion and a workforce of more than 50,000 people. LuLu Group mainly operates in 22 countries located across the Middle East, Asia, US, and Europe.
“We are proud to reach out to another dynamic market in the Emirate of Sharjah, where we come closer to provide a great shopping experience. We are actively establishing business plans for our growth as a retailer and be a key player in being a credible source of jobs and exploring relative investments,” said M.A Yusuff Ali, LuLu Group Chairman, and Managing Director.
M.A. Yusuff Ali is the richest Indian based in the Middle East region, with a net worth of $4.7 billion.