In an interview with Arabian Business, the managing director of EMKE Group, which owns LuLu, M A Yousuf Ali, said that the retailer was aiming to add 42 hypermarkets by the end of 2015 in existing and new markets.
Expansion to continue in existing markets…
Yousuf Ali said that the retailer was aiming to add to its 104 stores in the Middle East by opening seven new hypermarkets in the UAE, six in Oman, four each in Kuwait and Qatar, three each in Bahrain and Egypt and 15 in Saudi Arabia by the end of 2015.
Commenting on the plans, he was quoted as saying ‘After this Arab Spring all these countries now they’re now liberalising the foreign investment law and people need organised retail instead of traditional.’
…And new ones
In addition to expanding in countries where it already operates Yousuf Ali said that EMKE would investigate opportunities to enter Algeria, Indonesia, Iraq, Libya, Malaysia and Morocco.