Supermarket chain Lulu Group plans to expand into Iraq
Photo: Lulu Group
Baghdad (IraqiNews.com) – UAE-based supermarket chain, Lulu Group, is planning an IPO in 2023 with intentions to expand into Iraq and North Africa. According to the company, Lulu Group hired Moelis & Company to advise on its future IPO.
Founded by Indian national, Yusuff Ali, the supermarket chain has become one of the major hypermarkets in the Gulf and currently operates over 200 stores throughout the Middle East, Asia, United States and Europe.
Lulu Group will have to compete with large supermarket chains that currently exist in Iraq including Carrefour Hypermarket, City Center Hypermarket, Al-Warda Supermarket, and World Mall Supermarket.