Lulu, Majid Al Futtaim and Savola on 250 global retailers list

The top 250 global retailers generated aggregated revenues of $4.31 trillion in fiscal year 2015, representing composite growth of 5.2 percent, according to the “Global Powers of Retailing 2017: The Art and Science of Customers” report from Deloitte Global.

“Slow economic growth in major developed economies, high levels of debt in emerging countries, deflation or low inflation in rich countries and a protectionist backlash against globalization were among dynamics which contributed to a challenging economic environment for retailers,” explained Ira Kalish, Deloitte Global chief economist. “And yet people still need to shop, so the industry carries on. In some places and with some cohorts of shoppers, the outlook for retailers is favorable.”

“The Middle East remains an attractive destination for retailers, with three retailers ranking in Deloitte’s report of the 250 largest retailers around the world: Lulu Group, Majid Al Futtaim Holding LLC and Savola Group. Together, the Africa/Middle East region’s 19.1 percent growth rate and 5.8 percent net profit margin were the highest among the five geographic regions in FY2015,” said Herve Ballantyne, partner and consumer & industrial products industry leader, Deloitte, Middle East.

Middle Eastern retailers Lulu Group ranked 153, Majid Al Futtaim Holding ranked 160, and Savola Group (Panda) KSA ranked 240.

With $6.2 billion revenue, Lulu which has operations in nine countries, also finds a place among world’s 50 fastest growing retailers. Ranked 27 in the list of fastest growing retailers, Lulu Group recorded a compound annual growth of 17.3 percent for the 2010-15 period. Majid Al Futtaim Holding’s Carrefour was ranked 160 in the global list with retail revenues of $6.01 billion, while Saudi Arabia’s Savola Group came third in the Middle East region and was ranked at 240 globally with retail revenues of $3.6 billion.