LuLu Retail, this brand is making waves with one of the biggest IPOs in the UAE this year. Building a business in India is challenging, but thriving on foreign soil like Yusuff Ali did is truly inspiring and this is an incredible story of someone who was born in the humble town of Nattika in Kerala. M.A. Yusuff Ali’s journey from a small village to becoming a global retail tycoon is nothing short of extraordinary.

With an annual turnover of $8.4 billion, Yusuff Ali transformed LuLu into a retail powerhouse. He ranks among the top 30 richest Indians and is celebrated for employing thousands of Indians globally.This Indian business may be underrated and far from the spotlight, but it’s quietly flourishing on a global scale.

LuLu Group International is preparing to launch an initial public offering (IPO) in the first half of 2024 and list its shares on the, Abu Dhabi Securities Exchange the region’s second-largest exchange.

Here are some more facts to get you started:

1. Indian-born businessman Yusuff Ali, operates 254 hypermarkets and shopping malls in 10 countries including India, Egypt, Malaysia and Indonesia.
2. The hypermarket and chain operator has hired investment bank Moelis to advise it on the deal.
3. The company aims to start 80 more hypermarkets in the Gulf Cooperation Council (GCC) and other countries in the next two years.
4. Their knack for combining international standards with local flavours has made them a favourite among shoppers.

Now, they’re bringing this magic to India with huge expansion plans! Already, seven Lulu malls are up and running in cities like Kochi, Bengaluru, and Lucknow, and with a crores of investment lined up, they’re taking the retail game here to a whole new level.