Tthe Middle East retail giant Lulu Group opened its 133rd outlet and the first in Hail as part of its expansion drive, under which more such outlets will be opened in the region.
In a grand opening of its first hypermarket in Hail, in the north-western province of the Kingdom on Sunday, group chairman and managing director Yusuff Ali MA said: “The Kingdom is one of the strongest economies in the world. The global reduction in petrol prices has not affected the Kingdom and we are going ahead with our investment plans.” 
He added: “Vision 2030 is highly appreciated by the global business community and it will definitely transform the Kingdom into a global investment power.”
He said the next Lulu outlet will open in Al-Ahsa and Tabuk.
“This is our eighth outlet, we have plans to open 20 outlets by 2020,” he said, describing the Kingdom as crucial to its expansion plan.
“We have to expand aggressively here as the Kingdom is investing in its industries, which means more jobs and business,” Ali said.
Regarding the current market scenario, he said the economic slowdown has had little impact on the retail sector, especially the hypermarket and supermarket segment.
“There is no economic slowdown here, and business is as usual for us,” he said.
Notably, the retail chain has not witnessed any discouraging signs as sales and revenue targets have been met, so far.
The opening of the newest hypermarket saw the group, which is on a vast expansion mode, anchor itself firmly in the modern, customer-centric retail landscape of the Kingdom.
“The Saudi manpower is very productive and hardworking, I even mentioned this at the recent World Economic Forum,” said Ali.
He also thanked the Saudi government, saying: “Ever since we set foot in the Kingdom, we have been welcomed warmly and have been supported by one and all. We attribute our success to the policies and visionary leadership King Salman, Crown Prince Mohammed bin Naif and Deputy Crown Prince Mohammed bin Salman, the government and the people of this great country.”

Source : Arab News