Revenue up 6.1% for Q3 2024 and 5.7% YoY for 9M 2024; Q3 EBITDA increases 9.9% to $176.3 million; Group opens 12 new stores in 9M 2024
Lulu Group
Latest in Lulu Group
Abu Dhabi
New UAE laws; Petrol price increase; Dubai’s ‘viral chocolate’; Visa amnesty extended; Tax rules updated – 10 things you missed this week
UAE visa amnesty, new laws announced, petrol prices increased, Dubai real estate strategy and more of the top news stories this week
Egypt
Modon Holding and LuLu team up to expand retail presence in the UAE and Egypt
The two will jointly explore high-potential locations for retail development, implement smart retail solutions and advanced logistics infrastructure
Initial public offering
LuLu IPO: More retailers across MENA now eye IPO, up to $100bn in market cap on the way
Strong fundamentals such as stability, sustainability and scalability to drive the IPO surge among the region’s retail and grocery market players
Abu Dhabi
LuLu IPO: How to invest in UAE’s latest blockbuster public listing
Based on the price range, Lulu Retail’s market capitalisation could reach between AED 20.04 billion and AED 21.07 billion
Abu Dhabi Securities Exchange
Dubai real estate supply; Emirates named ‘World’s Best Airline’; $100m startup boost; Best Arab universities; Saudi expat job skill tests – 10 things you missed this week
Dubai real estate supply, ‘World’s Best Airline’, $100m startup boost, Saudi expat job skills and more of the top news stories this week
Abu Dhabi
LuLu Chairman Yusuff Ali signals potential Saudi listing; Abu Dhabi IPO to drive growth
Revelations on possible new plans come close on the heels of Lulu announcing its Abu Dhabi IPO plans
Abu Dhabi Securities Exchange
Lulu Retail to offer 25% stake in IPO scheduled for 28 October
2.582 billion shares being offered; Price range to disclosed on 28 October; Shares expected to list at ADX on 14 November
food processing
UAE’s Lulu Group to set up logistics and processing centre in Punjab
Lulu has tied up with the state government to open the centre in Amritsar over 20 acres of land with capacity of producing 200,000 metric tons
Cooper Fitch
100 people you need to know in Dubai; Kuwait launches new visa, announces public holiday; UAE salary guide – 10 things you missed this week
100 people you need to know in Dubai, Kuwait holidays and visas. UAE salary guide and more of the top news stories this week
IPO
LuLu Group IPO: UAE retail giant plans dual $1bn listing on Saudi, Abu Dhabi bourses, says report
The LuLu Group IPO could take place in the second half of 2024, however, the exact scope of operations included is still to be determined
Dairy products
LuLu Group, Kerala cooperative Milma in talks to sew up mega marketing alliance for Middle East
The plan entails marketing various Milma products through LuLu’s extensive network of hypermarkets and malls in the Middle East
Dubai
Lulu opens massive hypermarket in Dubai Mall
Lulu Group opens 72,000sq ft hypermarket in Dubai Mall
Abu Dhabi
LuLu Group to invest $1.2 bn in India over 3 years to complete ongoing projects
LuLu Group aims is to provide employment to 50,000 people in India
1 Billion Meals Endowment
Lulu Group’s Yussuf Ali gives $2.72 million to 1 Billion Meal campaign
A reflection of my commitment to support all charity efforts that strengthen the UAE’s reputation as a global hub for humanitarian efforts, says Ali
foreign direct investment
Dubai’s Emaar to build $60mn mall, office towers in India’s Jammu & Kashmir
Dubai’s Emaar is the first foreign company to invest in India’s Jammu & Kashmir
Amazon
LuLu, Amazon announce major new online grocery store in UAE
Customers in the UAE will now be able to buy daily essentials and other grocery items from LuLu via Amazon