LuLu ranks third in new Forbes list
Abu Dhabi, May 16, 2013
LuLu Hypermarket Group has been ranked third in the prestigious "Forbes Top 100 companies" making an impact in the Arab world.
LuLu is the only Indian company to be featured in the top 10, reported the Gulf Daily News, our sister publication.
UAE Minister of Culture, Youth and Social Development Shaikh Nahyan bin Mubarak Al Nahyan presented the award to LuLu Group managing director Yusuffali M A at a ceremony held at the Ritz Carlton Abu Dhabi.
It was attended by government officials, businessmen and people from all walks of life.
National Commercial Bank of Saudi Arabia bagged the first position while UAE's Al Futtaim Group secured the second position.
The list covers companies operating in Saudi Arabia, UAE, Jordan, Kuwait, Oman, Bahrain and Lebanon.
The main criteria used for ranking are financial results, corporate social responsibility programmes, global presence, number of subsidiaries, employee strength, and the assessments of independent auditors and Forbes research team.
Currently, LuLu Hypermarket Group has 105 stores across the region and this year it intends to open another 12 hypermarkets and shopping malls.
LuLu has recently opened its logistics facility at Birmingham, UK, and is set to enter in the Americas by starting its operations in Brazil next year. – TradeArabia News Service