LuLu Saudi Hypermarkets celebrates milestone achievement at Saudi retail forum

LuLu Saudi Hypermarkets, the rapidly expanding retail giant, showcased its journey to the 100-store milestone at the Saudi Retail Forum while securing two prestigious awards.

Director Shehim Mohammed reiterated the ambitious growth strategy outlined by Yusuffali M.A., the group’s chairman and managing director, emphasizing their goal to expand to 100 stores within the next year.

The group, eyeing a workforce expansion to include up to 10,000 Saudis in the coming years, was recognized as The Most Admired Retailer of the Year – Food & Grocery and The Most Admired Responsible Retailer of the Year. These accolades acknowledge LuLu’s adept navigation of evolving food and grocery trends and its commitment to an effective Environmental, Social, and Governance (ESG) framework, staff training, and Saudization initiatives.

As the largest retail chain in the MENA region, LuLu Hypermarkets Saudi played a significant role in the Forum, contributing to discussions about the dynamic growth of the Saudi retail sector, emerging opportunities, and industry trends. The event, held at the Fairmont Riyadh, brought together key players in the retail industry to deliberate on trends shaping businesses in 2024 and beyond.

LuLu further solidified its commitment to the Saudi Growth Story by signing four crucial agreements with industry leaders, including Cenomi Centers, Fahad Al Moqbel Group, Building Base Co. Limited, and Play Cinema. These agreements signify LuLu’s venture into new areas of investment within the Saudi market.

In addition to these milestones, Shehim Mohammed, a key panelist in the discussion titled “Unlocking the Treasure Chest of Retail Opportunities,” shared insights into LuLu’s transformative role in the Kingdom over the past five years. Presently operating in 14 Saudi cities with 60 stores, LuLu Hypermarkets Saudi aims to expand its network to over 30 more cities, adapting to the rapid urbanization and changing lifestyle preferences of Saudi consumers.

“Our narrative at the Forum focused on our confidence in the progress of the Kingdom of Saudi Arabia,” remarked Shehim Mohammed. He highlighted LuLu’s industry leadership in embracing innovative concepts, such as ESG implementation, digital interfaces, and the creation of an effective workplace for the evolving Saudi millennial workforce.