(MENAFN- The Peninsula) UAE-based Lulu Group, which runs the Lulu chain of supermarkets, has been risen in the latest edition of a list of the biggest retailers in the world.
The company, headed by Yusuffali MA, was ranked 183rd in the 2013 list of the 250 biggest retail businesses published by Deloitte, up 14 places compared to the previous year.
Deloitte said the retailer averaged compound annual growth rate of more than 18 percent between 2008-13. It added that the group's revenues in 2013 was estimated at $5bn, up from $4.5bn in the previous year.
The Lulu Group is the only entry from the Middle East in the global 250 list, which was headed by US giant Wal-Mart whose revenues in 2013 were put at more than $476bn.
The Lulu Group is set to open 15 new hypermarkets in UAE, Oman, Bahrain, Kuwait, Saudi Arabia and Egypt in the next few months.
The Lulu Group has earlier announced its plan to open hypermarkets in Malaysia and Indonesia, thus setting its foothold in the Far East Asia.
Deloitte said the top 250 global retailers generated revenue of $4.4 trillion in 2013, each with an average size of more than $17.4bn.
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