Lulu Group<\/a> told Khaleej Times.<\/span><\/p>\n“This injection of funds will empower us to pay off existing debts, further extend our footprint with 80 new hypermarkets across the GCC, Egypt, and beyond, and enhance supply chain networks and e-commerce capabilities which will contribute positively to the economies in which we operate.<\/span><\/p>\n“Lulu Group\u2019s commitment to delivering exceptional value to its customers remains unwavering. With a reputation built on quality, innovation, and customer-centricity, the company is poised to capitalize on emerging opportunities and elevate its global presence to new heights with our IPO plans.\u201d<\/span><\/p>\nThis year, the company is expecting a growth of around 15 per cent.<\/span><\/p>\nIn 2020, an investment firm backed by Abu Dhabi royal family bought a 20 per cent stake in the conglomerate by investing $1 billion in the mall operator founded by Indian entrepreneur Yusuff Ali.<\/span><\/p>\nLulu Group operates in 23 countries located across the Middle East, Asia, the US and Europe and has an annual turnover of around $8 billion and a staff force of more than 5,000.<\/span><\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":"
Lulu Group is raising Dh10 billion to refinance debt ahead of a potential initial public offering, a spokesperson revealed<\/p>\n","protected":false},"author":40,"featured_media":20384,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1323,1],"tags":[4014],"_links":{"self":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/23844"}],"collection":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/comments?post=23844"}],"version-history":[{"count":1,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/23844\/revisions"}],"predecessor-version":[{"id":23845,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/23844\/revisions\/23845"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media\/20384"}],"wp:attachment":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media?parent=23844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/categories?post=23844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/tags?post=23844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}