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Sat 15 Feb 2014 10:18 AM

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UAE retailer named one of world's fastest growing firms

EMKE Group, which runs Lulu supermarkets, ranked 11th in global list produced by Deloitte

UAE retailer named one of world's fastest growing firms
Yusuffali MA, EMKE Group founder

UAE-based EMKE Group, which runs the Lulu chain of supermarkets, has been named among the fastest growing retailers in the world over a five-year period.

The company, headed by Indian Yusuffali MA, was ranked 11th in a list of the biggest growing retail businesses published by Deloitte, which also listed the world's 250 biggest names in the sector.

Deloitte said the retailer averaged compound annual growth rate of more than 25 percent between 2007-12.

It added that the group's revenues in 2012 exceeded $4.5bn.

EMKE Group is the only entry in the global 250 list (ranked 197th), which was headed by US giant Wal-Mart whose revenues in 2012 were put at $469bn, followed by the UK's Tesco.

EMKE Group has said it plans to open 42 new Lulu Hypermarkets in the next two years.

Yusuffali MA, who was ranked the 40th richest Indian on the planet with a fortune of $2.2bn, said despite numbering 104 stores in the Middle East his Abu Dhabi-based company had no signs of slowing down.

It will open seven new hypermarkets in the UAE in 2014-15, six in Oman, four each in Qatar and Kuwait, three each in Bahrain and Egypt and 15 in Saudi Arabia.

New markets were also being pursued in Malaysia, Indonesia, Iraq, Algeria, Morocco and Libya.

To beef up its retail and exports business, the group was also investing heavily in developing a logistics centre and cold storage facility in Kochi.

Deloitte said that despite tough economic conditions, revenues for the world's 250 largest retailers reached $4.3 trillion for the last fiscal year (June 2012 through June 2013).

The average size of the top 250 retailers exceeded $17bn according to the 2014 Global Powers of Retailing report from Deloitte.

"The global retail industry got off to a difficult start in the last year," said James Babb, clients and industries leader at Deloitte Middle East. "However, it is encouraging to see that the world's leading retailers were able to plough on through the difficult period to reap the rewards of increased consumer spend.

"This has served to provide a much needed boost to global revenues with nearly 80 percent of the top 250 (199 companies) retailers posting an increase in retail revenue."

Emerging market retailers accounted for more than half (26) of the world's 50 fastest-growing retailers, Deloitte added.

Babb added: "Latin American retailers led the way with 15 percent retail revenue growth followed by retailers in the Middle East/Africa region at 13.5 percent. Retailers are successfully adapting their strategies to adequately cater to the growing middle-class consumers in emerging economies where there is strong demand for consumer goods, ranging from cars and electronics to personal care products."

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Sajin Kollara 6 years ago

It feels proud to be associated with them

karpakarajan 6 years ago

congratulations;
we have to learn how the established retailers (age and size) were overtaken. what was the source of expertise; strategy; best wishes.

Anis Ahmed 6 years ago

Congratulations to Yusuffali and the EMKE Group for doing Indians proud. Poor leadership has over the years kept India from developing into a world class nation.
Let us hope the 2014 elections will throw up a leader with a vision for all-round development, focus on curbing corruption as well as business friendly policies. I feel all these attributes are possessed by prime ministerial candidate Narendra Modi.

hans 6 years ago

*Congratulations to Yusuffali and the EMKE Group for doing Indians proud. Poor leadership has over the years kept India from developing into a world class nation.
Let us hope the 2014 elections will throw up a leader with a vision for all-round development, focus on curbing corruption as well as business friendly policies. I feel all these attributes are possessed by prime ministerial candidate Narendra Modi.
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The first part is ok, why do u bring poor Narendra Modi here.

GAFFOOR KOROTH 6 years ago

Congratulations to Yusuffali a for doing Indians proud especially from southern state of kerala. We awaiting your controbutions to our nation by way ruling.

GAFFOOR KOROTH 6 years ago

Congratulations to Yusuffali for doing Indians proud especially he is from kerala ,southern state of india. we are awaiting his contribution& vision for policy making in indian authorities.

Sheikha 6 years ago

If 90% of the UAE population was British then Waitrose would be the top supermarket here
90% of the population here is Asian so it stands to reason its doing well. it caters to the majority. simple mathematics really

PUNISHER 6 years ago

@Sheikha , why cant you just accept the fact that Co-operation is doing well ... it offers discounts goods , products at a cheap price hence it for the good benefit of people in general . FYI it has its branches all over Oman, Qatar and Kuwait, Bahrain and Egypt and in Saudi Arabia. what do you have to say about that .........