RIYADH — The rapidly growing LuLu Saudi Hypermarkets group reiterated its ambitious growth strategy at the Saudi Retail Forum, winning two prestigious awards too.

Shehim Mohammed, director of LuLu Saudi Hypermarkets, emphasized the statement of Yusuffali M.A., group’s chairman and managing director, that the group will be targeting an expansion to 100 stores over the coming year.

The group is aiming to reach upto 10,000 Saudis in its workforce over the coming years.

The largest retail chain in the MENA region, was recognized as The Most Admired Retailer of the Year – Food & Grocery and also The Most Admired Responsible Retailer of the Year in recognition of its ability to keep in step with quick-changing food and grocery trends and its consistent and effective ESG blueprint, staff training and Saudization uptake.

As one of the fastest-growing and influential retail chains in the Kingdom of Saudi Arabia, LuLu Hypermarkets Saudi was a key player in the Forum which showcased the dramatic growth of the Saudi retail sector, the opportunities and trends.

The prestigious event at the Fairmont Riyadh saw a gathering of retail industry who’s who to discuss trends that will shape the business in 2024 and the future.

LuLu also signed four key agreements that represent new areas of investment in the Saudi Growth Story for LuLu: with Alison Rehil Erguven, CEO of Cenomi Centers, a leading owner, operator and developer of contemporary lifestyle centers in Saudi Arabia; with Sheikh Fahd Moh’d Al-Moqbil, chairman of Fahad Al Moqbel Group; with Sheikh Khalid Al-Ajmi, chairman of Building Base Co. Limited and with c. Khalid Al Jafar, CEO of Play Cinema, a leading multiplex and movie house chain.

In line with the LuLu growth story, Shehim Mohammed was also a key panelist in the panel discussion titled “Unlocking the Treasure Chest of Retail Opportunities”.

“Over the past five years, LuLu Group in the Kingdom of Saudi Arabia has been a close and effective partner in the transforming of the Kingdom,” commented Shehim Mohammed, who is representing the group in the Forum.

“We have grown to 60 stores and are presently in 14 Saudi cities – with a growing network which embraces Neom City, Aramco and the gated compounds of the Saudi National Guard, we are looking at a presence in over 30 more cities soon.

“It is part of our strategy to keep pace with the rapid urbanisation of the landscape and the increasing cosmopolitan lifestyle tastes of our shoppers.”

He added, “At the Forum, our narrative was about our confidence in the progress of the Kingdom of Saudi Arabia. centre.

“In addition, LuLu has been leading the industry with innovative ways to harness new concepts, whether it is implementing ESG, digital interface or building an effective workplace for a new generation of Saudi millennials.” — SG