Emke Group, which operates the biggest hypermarket chain in the Middle East under the LuLu and Al Falah brands, is to invest AED4.3 billion ($1.17bn) to expand its network of supermarkets and hypermarkets.
The company is to build 25 new stores to take its total to 100 within the next three years, it was reported on Wednesday.The firm, which opened its 75th hypermarket this month in Al Ain, serves 350,000 shoppers per day, Emke Group managing director Yusuffali MA told the paper his company was entering the lucrative Indian market by developing the biggest shopping mall in Kochi, Kerala, with more than two million square feet of retail area.
According to some industry reports, Emke Group controls about 32.5 percent of the UAE's retail market, followed by French hypermarket chain Carrefour that has a 24 percent share.
The company's total turnover exceeded AED7.6 billion last year, 40 percent of which came from the UAE.
"Despite the global econ-omic crisis, we have witnessed a growth in sales across our network of hypermarkets in the region. This year, we expect our turnover to exceed $2.5 billion up from last year's $2.1 billion ," he told
The company is to build 25 new stores to take its total to 100 within the next three years, it was reported on Wednesday.The firm, which opened its 75th hypermarket this month in Al Ain, serves 350,000 shoppers per day, Emke Group managing director Yusuffali MA told the paper his company was entering the lucrative Indian market by developing the biggest shopping mall in Kochi, Kerala, with more than two million square feet of retail area.
According to some industry reports, Emke Group controls about 32.5 percent of the UAE's retail market, followed by French hypermarket chain Carrefour that has a 24 percent share.
The company's total turnover exceeded AED7.6 billion last year, 40 percent of which came from the UAE.
"Despite the global econ-omic crisis, we have witnessed a growth in sales across our network of hypermarkets in the region. This year, we expect our turnover to exceed $2.5 billion up from last year's $2.1 billion ," he told
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