Addressing a press conference in Dubai, Lulu Group Managing Director Yusuffali M. A. said: "It was part of our well thought-out ‘Achieve 100’ growth plan launched in 2009 to reach the 100 stores mark within three years. We are obviously pleased to announce that our 100th Lulu inside RAK Mall.”
It will be inaugurated by Sheikh Saud bin Saqr Al-Qassimi, supreme council member and ruler of Ras Al-Khaimah on April 26.
Even during the global financial meltdown and industry-wide recession, the Lulu Group had opened 23 hypermarkets and shopping malls in almost all major cities of the GCC.
"Not a single project was shelved or postponed," Yusuff Ali said, adding: “We are going ahead with our major expansion plans in all GCC countries. In Abu Dhabi alone, we will have another six hypermarkets which will include Al-Ain and Western Regions.”
Lulu, which started out as supermarket and department stores chain, has gradually moved on to the hypermarkets format in the shopping mall sector.
The group manages 10 highly successful shopping malls in the GCC countries which also includes hypermarkets.
Yusuff Ali is also the first non-Arab elected member of Abu Dhabi Chamber of Commerce & Industry (ADCCI).
Lulu has always been in the forefront in terms of adapting to new technologies and innovations.
The Group's next move is to launch its webstore.
"Though the online retail is still in its early stages in the region, we see great potential in it, especially among the youth segment," said Yusuff Ali.
“Lulu Webstore” will be launched soon and initially will cater to UAE market before rolling out to other GCC countries.
