Three retail giants from the GCC — including two from the UAE — have made it to the world’s top 250 most powerful retailers. International consultancy Deloitte’s “Global Power of Retailing 2018, Transformative Change, Reinvigorated Commerce,” has ranked the UAE-based LuLu Group International and Majid Al-Futtaim Holding as No. 141 and 151 respectively, among the powerful retail brands.
LuLu Group — which operates hypermarkets and superstores across 10 countries — posted $6.9 billion in revenues in 2016, achieving a compound annual growth rate of 10.2 percent.
The UAE-headquartered LuLu Group controls 32 percent of the retail market share with more than 140 stores across the GCC, Egypt, India, Indonesia and Malaysia.
Majid Al-Futtaim Holding had retail revenues of $6.5 billion while group revenues reached $8.14 billion. Operating 120 supermarkets, 90 hypermarkets across 15 territories, it posted a group net income of $758 million with CAGR retail revenue of eight percent, revealed the Deloitte report. While Saudi Arabia’s Savola Group, which operates the Panda brand, was ranked 244th most powerful retailer with $3.67 billion in revenues. With presence in three countries, it achieved 6.7 percent CAGR in 2016.
The top 10 list is dominated by the US giants with Wal-Mart Stores topping, followed by Costco Wholesale Corp., The Kroger Co., Schwarz Group, Walgreens Boots Alliance, Amazon.com, The Home Depot, Aldi Group, Carrefour and CVS Health Corp.
LuLu Group — which operates hypermarkets and superstores across 10 countries — posted $6.9 billion in revenues in 2016, achieving a compound annual growth rate of 10.2 percent.
The UAE-headquartered LuLu Group controls 32 percent of the retail market share with more than 140 stores across the GCC, Egypt, India, Indonesia and Malaysia.
Majid Al-Futtaim Holding had retail revenues of $6.5 billion while group revenues reached $8.14 billion. Operating 120 supermarkets, 90 hypermarkets across 15 territories, it posted a group net income of $758 million with CAGR retail revenue of eight percent, revealed the Deloitte report. While Saudi Arabia’s Savola Group, which operates the Panda brand, was ranked 244th most powerful retailer with $3.67 billion in revenues. With presence in three countries, it achieved 6.7 percent CAGR in 2016.
The top 10 list is dominated by the US giants with Wal-Mart Stores topping, followed by Costco Wholesale Corp., The Kroger Co., Schwarz Group, Walgreens Boots Alliance, Amazon.com, The Home Depot, Aldi Group, Carrefour and CVS Health Corp.
