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UAE-based Indian retail firm LuLu group has been ranked in the top 100 companies ‘making an impact in the Arab world’, the only Indian firm to do so.
It was announced yesterday at an event in Abu Dhabi to list the Forbes Top 500 companies in the Arab world 2013.
“It’s a great honour for our group and we look forward to greater performance in the future,” said M.A Yusuff Ali, Managing Director of the LuLu group.
LuLu group runs a total of 105 retail outlets across the Gulf region and 18 shopping malls. It employs a total of around 32,000 people across the Gulf region.
Ali recently found a place in Forbes Magazine’s newest list of billionaires in the world with an estimated net worth of $1.5 billion as of March 2013.
The news came close on the heels of LuLu Hypermarket being ranked by Deloitte as one of the ten fastest-growing retailers in the world, registering sales worth $4.25 billion.
Ali, 57, born and educated in India, migrated to Abu Dhabi in the 1970s to join the family’s small trading business.
The group’s other interests include healthcare, software and infrastructure with operations in 21 countries.
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