By Rami Sameeh
Abu Dhabi-Mubasher: Lulu Group International plans to open 11 new branches in the GCC region this year, with investments estimated at nearly AED 1.1 billion ($299.5 million), said Chairman Yusuf Ali.
On the sidelines of opening the first Famous Dave's restaurant in Abu Dhabi, Ali told reporters that three new branches will be opened in the UAE, bringing the total number of branches to 132.
Lulu has the biggest chain of stores reaching 121 in the Middle East and India.
The group's total sales increased by 16% to AED 20.6 billion ($5.6 billion) last year, the Chairman said, forecasting the sales to grow by 17% in 2016.
He also said that the number of UAE branches will increase to 74 after opening three ones this year, at a total cost of AED 330 million ($89.82 million).
Translated by Abdul Maguid Aboshahla
