Indian-run retail giant LuLu enters Saudi market
Lulu hypermarket sets new standards - Arab News
RIYADH: Retail giant Lulu further consolidated its dominance in the region by opening a SR220 million new hypermarket in Murabba district here on Sunday.
Prince Saud bin Abdullah, son of Custodian of the Two Holy Mosques King Abdullah, opened the new hypermarket.
The district is a busy and bustling area predominantly inhabited by hundreds of thousands of Asian and Arab expatriates.
Speaking after a tour of the hypermarket with Lulu Managing Director M. A. Yusuffali, Prince Saud said: “The opening of this hypermarket is a manifestation of the cordial relationship that exists between the Kingdom and India over the years. Lulu’s confidence in the local economy has emboldened it plan to invest in new hypermarkets across Riyadh, Jeddah and the Eastern Province.”
At a press conference later, Yusuffali thanked the Kingdom for the support and encouragement provided to Lulu.
The Kingdom has ensured peace and security, which are top priorities for the business community. “There is good governance and security in this great country,” said the Indian billionaire, allaying fears of the business gentry.
He also said he would go ahead with his publicized SR2 billion investment plan in Saudi Arabia.
“Within three years from now, Lulu will hire some 4,000 Saudi nationals. About 350 of them are currently working in this new hypermarket,” he said.
Deputy Commerce & Industry Minister Ahmad Al-Oufi, Riyadh Chamber of Commerce and Industry Chairman Abdulrahman Al-Jeraisy, Indian Ambassador Talmiz Ahmad, Bank of Baroda Chairman M.D. Mallya, Bank Albilad Chairman Nasser Ibrahim Al-Subeai, and Emke Group CEO Saifee T. Rupawala were among the large number of dignitaries present at the event.
Yusuffali said he plans to open his next store in Batha area here within the next three months. Plans are under way to open several other Lulu hypermarkets and department stores in Makkah, Madinah, Jeddah and other cities.
“The roll-out of new stores is an integral element of our ‘Achieve 100’ game plan,” he said.
“Six new stores will raise our tally to 93, and a further seven will come on board before the year-end,” he said, adding that this new hypermarket in Riyadh is its 89th branch.
“Commodities will be cheaper in the Kingdom’s Lulu stores,” he emphasized. The new hypermarket, with a total of 40 check-out counters, is located at Riyadh Avenue Mall, which has a separate Malabar Gold section.
The new hypermarket features more than 100,000 products, including grocery items.
One of its major strengths is its fresh food section with fruit, vegetables, dairy products, meat, fish, and hot and cold ready-to-eat food.
It also has a huge area dedicated to department store items such as electronics, IT products, home appliances, sports, stationery, furnishings and furniture and fashion brands.
Lulu, which accounts for nearly a third of the Gulf’s retail market with footfall exceeding 425,000 every day, employs 26,000 people.
In keeping with its endeavor to provide the best quality products in the most hygienic way, it has invested heavily in special areas like state-of-the-art storing facilities, and latest baking and cooking machines.