LuLu & Majid Al Futtaim in world’s most powerful 250

Dubai : Three retail giants from the GCC - including two from the UAE - have made it to the world’s top 250 most powerful retailers. 

International consultancy Deloitte’s ‘Global Power of Retailing 2018, Transformative Change, reinvigorated commerce’, has ranked the UAE-based LuLu Group International and Majid Al Futtaim Holding as number 141 and 151 respectively, among the powerful retail brands.

LuLu Group - which operates hypermarkets and superstores across 10 countries - posted $6.9 billion (Dh47.34 billion) revenues in 2016, achieving a compound annual growth rate of 10.2 per cent.

The UAE-headquartered LuLu Group controls 32 per cent of the retail market share with more than 140 stores across GCC, Egypt, India, Indonesia and Malaysia.

While Majid Al Futtaim Holding had retail revenues of $6.5 billion, its group revenues reached $8.14 billion. Operating 120 supermarkets, 90 hypermarkets across 15 territories, it posted group net income of $758 million with CAGR retail revenue of eight per cent, reveals Deloitte report. 

Saudi Arabia’s Savola Group, which operates Panda brand, was ranked 244th most retailer with $3.67 billion revenues. With presence in three countries, it achieved 6.7 per cent CAGR in 2016.

The top 10 list is dominated by the US giants with Wal-Mart Stores topping followed by Costco Wholesale Corp., The Kroger Co., Schwarz Group, Walgreens Boots Alliance, Amazon.com, The Home Depot, Aldi Group, Carrefour and CVS Health Corp.