UAE-headquartered Lulu Group is planning to expand its retail footprint into Chennai, Hyderabad, and Ahmedabad, the company said on June 24.
Lulu Group International currently has five malls in the country located in Kochi, Bengaluru, Thiruvananthapuram, Thrissur, and Lucknow.
“Lulu Global had committed an investment of around Rs 5,000 crore for the development of five shopping malls in India in the first phase of expansion in the country. Out of the five, four malls have already become operational at Kochi, Thrissur, Trivandrum, and Bengaluru. The fifth one at Lucknow is also expected to be operational very soon,” said Shibu Philips, Director- Shopping Malls, LuLu Group India.
“We are now planning to develop three malls in Hyderabad, Chennai, and Ahmedabad. India is a crucial market for us, our malls have been received well by the consumers and we will continue to expand our footprints in new states and also in the states we are already present,” he said.
The group is expected to invest Rs 2,000 crore in Ahmedabad and Rs 3,500 crore in Chennai to set up a shopping mall, hypermarkets, and a food processing and logistics centre, the company said.
Currently, the firm is gearing up for the inauguration of its mall in Lucknow. Spanning over 20 lakh sq. ft, this mall is expected to be operational in the coming month. The 11-screen PVR superplex will be launched later this year. The mall houses 15 fine dining restaurants and cafes, and a massive food court with 25 brand outlets that has a capacity of seating 1600 patrons, the company said.
The Lulu Lucknow mall will also have Lulu Group-owned Funtura and Lulu Hyper Market.
Lulu Group currently has 220 plus hypermarkets and shopping malls in the Middle East, Egypt, India, Malaysia, and Indonesia with a global workforce of over 57,000 employees.
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