Retail group Lulu to open seven more hypermarkets in Oman MARKET
(Muscat-NewsHalal, Rabi`II 29, 1437, February 8, 2016) A major Middle Eastern retailer Lulu Group has announced plans to open seven more hypermarkets in Oman in the next two years. The announcement was made by Yusuffali MA, chairman of Lulu, following the opening a new hypermarket in Suwaiq, a coastal town in the north east of the sultanate.
Lulu Hypermarket is a hypermarket chain and retail venture started by Lulu Group International in 2000. M. A. Yousuf Ali is the managing director of the group that is based in Abu Dhabi. LuLu has over 35,600 employees of various nationalities.
It is one of the largest retail chains in Asia and is the biggest in Middle East with 122 outlets in the Gulf Cooperation Council (GCC) countries and one in Kochi, Kerala, India. Hypermarkets have been known as an innovator of the retail industry in the region.
The 122nd outlet of the group, 16th Lulu hypermarket in Oman was officially inaugurated by Shaikh Muhna Bin Saif Bin Salim Al Lamki, governor of North Al Batinah, in the presence of several high-ranking officials from various government departments and representatives from local business communities.
The new 100,000-sq-ft hypermarket will serve the residents of Suwaiq and its surrounding areas with a wide range of products from all over the world. The product mix in Lulu Suwaiq encompasses a wide selection of premium UK and US goods, including special products air-flown for freshness.
It has separate sections for fresh fruits and vegetables, meat and poultry, fish, dairy products, ready-to-eat products and a state-of-the-art live bakery and hot foods kitchen. In addition to this, the outlet is featuring high-fashion garments, electronics, IT products and home appliances, stationery etc.
“Oman has always been a preferred destination for us because of its stable political environment and promising market. We thank His Majesty Sultan Qaboos Bin Said and the people of this country for encouraging us in all our expansion strategies and efforts in Oman." Chairman of Lulu said. On providing training and employment opportunity to the educated Omani youth, Yusuffali said.
“It is also our endeavour to nurture the local talent and a proof of this is our strong workforce of 2,000 Omanis that form the nucleus of our operations here in Oman." He added.
Regardless of the challenges arising from the volatile oil prices, Yussufali expressed optimism on the economic outlook of the country. “We’re very optimistic based on the circumstances in general. The impact of fluctuating oil prices is not going to distract us from the long-term goals of our business in Oman". He said.
The Lulu group currently operating stores in United Arab Emirates, Oman, Bahrain, Saudi Arabia, Kuwait, Qatar, Egypt, India, and Yemen.