Middle East retail giant Lulu said on Monday it was set to open its 100th store later this month in a bid to further strengthen their market share in the region.
Yusuff Ali MA, Emke Lulu Group’s managing director, said the company had opened 23 hypermarkets and shopping malls in the last three years, adding that the 100th store would open in Ras Al Khaimah.
He added that the expansion programme had not been impacted by the global financial meltdown.
“Not a single project was shelved or postponed,” he said.
“We are going ahead with our major expansion plans in all GCC countries. In Abu Dhabi alone, we will have another six hypermarkets which will include Al Ain and Western Regions,” he added.
Lulu’s next move, the retail chief said, is to launch its “webstore” initiative to take advantage of the growing online shopping trends.
“Though the online retail is still in its early stages in the region, we see great potential in it, especially among the youth segment,” Ali said.
“I see no negative impact of this on our regular store business as vast majority of shoppers here still prefer ‘touch and feel’ shopping and online will help us add more new shoppers,” he added.
Lulu, which started out as a supermarket and department stores chain, now manages 10 shopping malls in GCC countries.
Lulu is also looking to expand its Lulu Express brand across the UAE, Ali said.
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