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Meet man, an Indian born in village, has Rs 65150 crore worth, Saudi royal family is his...
The 68-year-old left for Abu Dhabi in 1973 to join his uncle's small distribution business.
Updated : May 15, 2024, 01:24 PM IST
 "Lulu")
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LuLu Group is currently expanding rapidly across the globe, with businesses in various countries, including India. Known primarily for its hypermarkets and large grocery stores, the company was founded in 2000 by an Indian entrepreneur named M.A. Yusuff Ali. According to Forbes, Yusuff Ali now has a net worth of $7.8 billion (approximately Rs 65,150 crore). But how did Yusuff Ali build such a vast business empire in just 24 years, an empire so significant that the royal family of Abu Dhabi paid $1 billion for a 20% stake?
Born on November 15, 1955, in the village of Nattika in Thrissur district, Kerala, Yusuff Ali received a good education. He completed his early schooling at St. Xavier's High School in Karanchira and later earned a diploma in Business Management and Administration (MBA). It was clear early on that he aspired not to work for others but to become an employer himself.
The 68-year-old left for Abu Dhabi in 1973 to join his uncle's small distribution business.
In 1990, Yusuff Ali's career took a significant turn when he led the LuLu Group's entry into the supermarket business, a strategic move as the retail landscape in Abu Dhabi was changing with traditional grocery stores giving way to large outlets and hypermarkets. He launched the first LuLu Hypermarket.
By 1995, the retail sector in Dubai had undergone a complete transformation with major players like Carrefour entering the market. Yusuff Ali expanded the LuLu Hypermarket business in Abu Dhabi, solidifying its presence and reputation. As a result, the LuLu Group's position strengthened, and Yusuff Ali's leadership became widely recognized in the market.
Currently, LuLu Group has malls in six Indian cities -- Kochi, Thiruvananthapuram, Bengaluru, Lucknow, Coimbatore, and Hyderabad being the latest. The group is headquartered in Abu Dhabi, UAE and has been known as a trendsetter in the retail industry in the Middle East and North Africa region. It operates over 250 hypermarkets and supermarkets.
