The supermarket chain has a pipeline of 91 hypermarkets and stores lined up to open.
Lulu Group International is on track with its $2.9 billion (AED10.7 billion) investment in its retail network, opening 91 hypermarkets between 2020 and 2023. It said 50 of these stores have already been opened during the Covid-19 pandemic.
The supermarket chain now has 235 hypermarkets, shopping malls and fulfillment centres across 12 countries including the GCC, India, Malaysia, Indonesia and Egypt.
Nandakumar Vijayan, Director of Marketing and Corporate Communications at Lulu Group International, said: “Despite continued headwinds including Covid-19 and other challenges, we have continued to expand our operations across the world. We never stopped growing.”
He made the announcement revealing that Lulu will open 11 more hypermarkets this year and a further 27 hypermarkets and stores next year.
For each hypermarket, the company usually invests around AED125 million, he said. The total investment in 85 hypermarkets and six stores would exceed AED10.7 billion in four years at this rate.
