Dubai: Only two UAE based groups - LuLu and Majid Al Futtaim – have made it to the Top 250 global rankings of the most powerful retailers issued by the consultancy Deloitte. The rankings are led by US heavyweights, with Walmart pipping Amazon to be No. 1.
These 250 retailers generated $4.85 trillion worth of sales in 2020, despite all the challenges posed by COVID-19.
Since the start of the pandemic, LuLu group opened 26 new hypermarkets and supermarkets, including four ecommerce fulfillment centers across the region. “No doubt these are very challenging times and we had to delay our expansion plans last year due to lock-downs and COVID restrictions,” said Yusuffali MA, Chairman of Lulu Group. “But now, we are fully back on track to open 30 new hypermarkets and 10 e-commerce fulfillment centers in the GCC, Egypt and Far East by the end of this year.
“Dubai Expo 2020 coupled with fast improving health and safety situation is sure to boost the market sentiments sooner than later.”