LuLu Hypermarket reiterated its ambitious growth strategy in the Kingdom at the recent Saudi Retail Forum. The leading regional retailer won two prestigious awards at the event.
Representing LuLu at the forum, Shehim Mohammed, director of LuLu Saudi Hypermarkets, highlighted LuLu Group Chairman and Managing Director Yusuffali M.A.’s stated goal of expanding to 100 stores and employing up to 10,000 Saudis in its workforce over the coming years.
LuLu, the largest retail chain in the MENA region, was recognized as the “Most Admired Retailer of the Year — Food and Grocery” and the “Most Admired Responsible Retailer of the Year,” in recognition of its ability to be in step with quick-changing food and grocery trends, as well as its consistent and effective environmental, social, and corporate governance blueprint, staff training and Saudization uptake.
As one of the fastest growing retail chains in the Kingdom, LuLu Hypermarket was a key player in the Saudi Retail Forum, which showcased the dramatic growth of the country’s retail sector, its opportunities and trends. The event, held at Fairmont Riyadh on Dec. 18, saw a gathering of the retail industry’s who’s who to discuss trends that will shape the business in 2024 and beyond.
LuLu also signed four key agreements that represent new areas of investment in the group’s Saudi growth story. The agreements were signed with Alison Rehil Erguven, CEO of Cenomi Centers, a leading owner, operator and developer of contemporary lifestyle centers in Saudi Arabia; Shaikh Fahd Mohammed Al-Moqbel, chairman of Fahad Al-Moqbel Group; Sheikh Khalid Al-Ajmi, chairman of Building Base Co. Limited; and Khalid Al-Jafar, CEO of Play Cinema, a leading multiplex and movie house chain.
Moreover, LuLu Saudi director Mohammed was a key panelist in a discussion titled “Unlocking the Treasure Chest of Retail Opportunities.”
“Over the past five years, LuLu Group in the Kingdom of Saudi Arabia has been a close and effective partner in the transformation of the Kingdom,” said Mohammed. “We have grown to 60 stores and are presently in 14 Saudi cities — with a growing network that embraces NEOM, Aramco and the gated compounds of the Saudi National Guard. We are looking at a presence in over 30 more cities soon. It is part of our strategy to keep pace with the rapid urbanization of the landscape and the increasing cosmopolitan lifestyle tastes of our shoppers.”
He added: “At the forum, our narrative was about our confidence in the progress of the Kingdom. In addition, LuLu has been leading the industry with innovative ways to harness new concepts, whether it is implementing ESG, digital interface or building an effective workplace for a new generation of Saudi millennials.”
