(MENAFN) UAE-based Lulu Group which runs the Lulu chain of supermarkets has climbed the latest edition of a list of the biggest retailers in the world, Muscat Daily reported.
The company 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 confirmed that the retailer averaged compound annual growth rate of more than 18 percent between 2008-2013. It added that the group's revenues in 2013 was estimated at USD5 billion up from USD4.5 billion in the previous year.
Lulu Group is the only entry from the Middle East in the global 250 list which was headed by US giant Walmart whose revenues in 2013 were put at more than USD476 billion. The group is set to open 15 new hypermarkets in the UAE, Oman, Bahrain, Kuwait, KSA and Egypt in the next few months.
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