UAE-based LuLu Group, which runs the LuLu chain of supermarkets, has been moved up in the latest edition of a list of the biggest retailers in the world.
The company, headed by leading non-resident Indian entrepreneur Yusuffali MA, was ranked 183rd in the 2013 list of the 250 biggest retail businesses published by Deloitte, up 14 places compared to the previous year.
Deloitte said the retailer averaged compound annual growth rate of more than 18% between 2008 and 2013. The group’s revenues in 2013 were estimated at $5bn, up from $4.5bn in the previous year.
LuLu Group is the only entry from the Middle East in the global 250 list, which was headed by US giant Wal-Mart whose revenues in 2013 were put at more than $476bn.
LuLu Group is set to open 15 new hypermarkets in the UAE, Oman, Bahrain, Kuwait, Saudi Arabia and Egypt in the next few months. LuLu had earlier announced plans to open hypermarkets in Malaysia and Indonesia.
