UAE: Lulu Group to expand into Asian markets
Lulu Group, a UAE-based chain of more than 100 supermarkets and hypermarkets, has announced plans to expand into new Asian markets with the opening of stores in Malaysia and Indonesia.
The company, which operates outlets across the Gulf as well as in Yemen, Egypt and India, is now planning to open five hypermarkets in Malaysia, which will be the company's first market in South-East Asia. Due to be completed in the next two years as part of a $200 million investment, the new stores will stock exclusively products that comply with Islamic law.
According toYusuff Ali M.A, managing director of Lulu Group, the new Malaysian stores will employ 2,500 staff directly and will also create 5,000 indirect jobs.
He commented: "With a population of over 29 million, Malaysia needs quality halal-only hypermarkets and we will be the first to operate 100 percent Halal hypermarkets there".
In addition to Malaysia, Lulu is planning to enter the Indonesian market next year with the initial opening of two hypermarkets.