UAE-based EMKE Group, which owns and operates the LuLu banner, has signed a joint venture agreement with Malaysia-based Felda that will lead to it open its first hypermarket in Jalan Masjid India in 2014.
EMKE set to invest US$200 million in Malaysia
The announcement came as part of a visit from Malaysia’s deputy prime minister, Tan Sri Muhyiddin Yassin, to Dubai. LuLu said it would open its first hypermarket in 2014 and as part of a US$200 million investment, would then add another five across the country over the course of the ‘next few years’.
Expansion to help support Malaysia-based suppliers
Commenting on LuLu’s launch in Malaysia, Muhyiddin said: “They [LuLu] will also help market more Malaysian products at their hypermarkets, including those produced by our small-and medium-sized industries and Felda.” As part of this strategy, Muhyiddin said LuLu would sign contracts with local farmers and entrepreneurs, who will supply it with fresh vegetables and fruits in Malaysia, with LuLu suggesting that it could lead it to export goods to its stores in other markets.