Retail supermarket giant Lulu Group International is in talks with Israeli government officials at the Ministry of Economy and Industry about the possibility of operating stores in Israel. The Indian company, which is headquartered in Abu Dhabi, has stores throughout the Arab world and East Asia.
LuLu has annual revenue of $8 billion and operates 227 stores and 24 shopping malls in 22 countries in the Middle East, Asia, the US and Europe. About 1 million consumers shop in its stores worldwide every day. In addition, the company has 1.1 million consumers who buy online from its website.
The company has two manufacturing plans, which produce its own private label products including corn flakes, oil, pasta, sauces and much more.
LuLu Group's interest in Israel comes hard on the heels of the news earlier this month that global retailing giant Carrefour had signed a deal with Electra Consumer products (TASE: ECP) to convert its chain of 150 Yeinot Bitan stores into Carrefour supermarkets.
Published by Globes, Israel business news - en.globes.co.il - on March 21, 2022.
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