LuLu, a retail giant, aims to double its imports from Vietnam with ambitious goals

LuLu, a global retail giant based in Abu Dhabi, has announced an ambitious plan to significantly increase its imports from Vietnam in the coming years. The announcement was made during a meeting between Vietnamese Prime Minister Pham Minh Chinh and top executives from influential Saudi Arabian and Gulf Cooperation Council (GCC) corporations on October 19.

With its extensive chain of hypermarkets spanning 23 countries, including vibrant markets in the Middle East, Asia, and Europe, LuLu is a major player in the retail industry. The company already has a presence in Vietnam through its dedicated procurement office in Ho Chi Minh City.

LuLu’s CEO, Shehim Kottilingal, outlined the conglomerate’s vision, expressing their intention to diversify business operations by establishing additional warehousing facilities and factories in Vietnam. The goal is to significantly increase imports from Vietnam two- or even three-fold in the near future. LuLu’s focus will be on high-quality Vietnamese products, particularly cashew nuts, fish, rice, and the country’s growing textile and footwear offerings. Kottilingal emphasized that the expansion aims to be transformative, strengthening trade relations between LuLu and Vietnam. The company’s website highlights its contribution to the Gulf region’s economy, with an annual turnover of $8 billion and a workforce of over 65,000.

Headquartered in Abu Dhabi, LuLu Group is renowned for its international business portfolio, which includes hypermarket operations, shopping mall development, manufacturing, trade, hospitality, and real estate. The company operates in 23 countries across the Middle East, Asia, the United States, and Europe.