LuLu Group among top global retailers

Manama : Lulu Group, has become the only Indian owned company to have found a place in the list of top 250 global retailers whose combined revenues reached $4.31 trillion in 2015, according to Deloitte’s 250 global retailers report. 

Majid Al Futtaim Holding LLC and Savola Group are the other companies in the report which aims to find retailers that achieve steady growth despite challenging global economy

The companies represented a composite growth of 5.2 percent, according to the Global Powers of Retailing 2017: The art and science of customers report from Deloitte Global.

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

“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,” Dr. Ira Kalish, Deloitte Global Chief Economist said.

 “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 favourable.”

LuLu Group is the only Middle Eastern retailer to be featured in the top 50 fastest growing retailer in the world, ranking 153 in the list. With $6.2 billion revenue and operating in nine countries, Lulu Group ranked 27 in the list of fastest growing retailers.

The Group recorded a compound annual growth of 17.3% for the 2010-15 period.

MAF Holding’s Carrefour was ranked 160 in global  list with retail revenues of $6.01 bn. 

Saudi Arabia’s Savola Group came third in the ME region and ranked 240th globally with retail revenues of $3.6 bn.

For the third year in a row, revenue growth for the top 250 apparel and accessories retailers outperformed other product sectors, according to the report.