Lulu fi­nal­izes plan to start oper­a­tions in Malaysia

First hyper­mar­ket to open in Fe­bru­ary 2016

Kuwait Times - - BUSINESS -

KUALA LUMPUR: The Mid­dle East­ern re­tail ma­jor Lulu Group is in the fi­nal stages of start­ing its oper­a­tions in Malaysia with the 1st hyper­mar­ket slated to open in Fe­bru­ary 2016 in Kuala Lumpur city (Jalan Mun­shi Ab­dul­lah).

Elab­o­rat­ing the group’s plan dur­ing the of­fi­cial luncheon hosted by the Malaysian Prime Min­is­ter Na­jib Ab­dul Razak in hon­our of Prime Min­is­ter Naren­dra Modi in Kuala Lumpur yes­ter­day, Yusuf­fali MA, Chair­man and Man­ag­ing Di­rec­tor of Lulu Group said, “we plan to ini­tially in­vest RM 1.3 bil­lion (US$300 mil­lion) in rolling out 10 hy­per­mar­kets in the next 2 years and grad­u­ally ex­pand to all parts of Malaysia. To­day the whole world knows about Malaysia’s eco­nomic sta­bil­ity, in­vestor friendly ap­proach, lib­er­al­ized poli­cies and world-class in­fra­struc­ture and we are con­fi­dent about our suc­cess here”.

Lulu which cur­rently op­er­ates 118 Hy­per­mar­kets and Shop­ping Malls in the Mid­dle East and In­dia is known for its world-class shop­ping ex­pe­ri­ence, high­est qual­ity prod­ucts, com­pet­i­tive prices and ex­cel­lent cus­tomer ser­vice. As per the Deloitte world­wide rank­ing Lulu is among the top 10 fastest grow­ing re­tailer in the world.

“Our hy­per­mar­kets en­com­pass both su­per­mar­ket & depart­ment store for­mats and we in­tend to bring a whole new world of shop­ping to the res­i­dents of Malaysia. Glob­ally, we em­ploy more than 35000 peo­ple from dif­fer­ent na­tions and our projects here will pro­vide 5000 em­ploy­ment to Malaysians. To bet­ter equip Malaysian cit­i­zens em­ployed by us, we will train them in all our Hy­per­mar­kets here and will also take them to our other out­lets in the Mid­dle East,” Yusuf­fali said.

Dur­ing the Malaysian Prime Min­is­ter’s visit to UAE last year, the premier had per­son­ally vis­ited Lulu Hyper­mar­ket in Abu Dhabi and had shown much ap­pre­ci­a­tion for store qual­ity, prod­uct range and es­pe­cially the var­i­ous Malaysian prod­ucts be­ing sold there. Lulu is also one of the big­gest im­porters of Malaysian agri­cul­tural prod­ucts and non-food prod­ucts to the Mid­dle East.

Agree­ments have al­ready been fi­nal­ized with prom­i­nent re­tail de­vel­op­ers such as Green­hill Re­sources Sdn Bhd (Se­tia City Mall), KLIA Prop­er­ties (for their new project in Bangi), PNB Commerce (Per­ling Mall in Jo­har Baru) and other hy­per­mar­kets will come up in Ka­land­han Kotabaru, Shaa Aalam, Ip­poh, Malaka, Pe­nang and Kuala Tringanu. “Works of other Hy­per­mar­kets have al­ready started with some hav­ing com­pleted 60 per­cent and some oth­ers 70 per­cent” he added. Dis­cus­sions are also pro­gress­ing with Fed­eral Land De­vel­op­ment Author­ity of Malaysia (FELDA) for projects in other parts of the coun­try.

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