Dec. 2018: The chap who runs or is behind Lulu Group International certainly has ambition and is moving like a Tsunami. His name is Yusif Ali MA. Here we go again: Lulu opens 7th Hypermarket in Bahrain at Atrium Mall
A man from humble background as so many successful Indians are, but now at the helm, he is opening so many new hypermarkets across the Middle East and Beyond at lightning speed.
At last count the group turnover was 7.4 billion Dollars a year. Now around 31 countries have a Lulu and more coming so fast, one wonders what the net worth of the group is. Asking Mr. Ali that question, he smiles and just says; Thank you very much and walks away. Not even Forbes or Bloomberg has that answer that we can discern, but surely, if not already, they will be watching this unstoppable march. There must be a reason for not declaring such a success but best not go there then. Of course, it begs the question; How much must this individual be worth? According to Forbes, he is not quite in the top 20 of rich Indians yet, but only short by a billion or two. Then again, there are partners, but when a company is able to splash out many millions here there and everywhere, opening new huge stores so often, suffice to say their bank accounts are extremely healthy.
Seven Lulu Hypermarket in little Bahrain already with 3 more to go according to Ali.
It has been phenomenal growth over the last 5 or 6 years with their base right in the heart of the Middle East, knowing where their bread is buttered. However, the attitude does not seem to be direct corporate growth and just cash in. On the contrary, there is a sort of humanitarian approach to it, whereby the Lulu Group are employers. In fact Ali is known well for his philanthropic generosity.
It is all very Indian though, with their corporate marketing clearly so. In fact judging by output, there is a considerable amount of delusion as to what is deemed professional corporate image especially with broadcast. It obviously works for some.
So one wonders if their Modus Operandi would work in downtown Manhattan or Kensington High Street in London say. Watch this space, they are very slick operators to say the least and it would be no surprise. Once in though, that tsunami will roll like a Formula One steam roller.
Lulu also has an increasing number of branded commodities appearing, giving the likes of Tesco and others a good run at price matching. So if we do see a Lulu on Kensington High Street one day, be sure they with will start springing up everywhere as their bulldozer rolls. Nothing stops them.