Lulu Retail has once again proven why it’s the undisputed king of retail in the GCC! In 2024, the retail giant raked in a staggering $7.6 billion in revenue, marking a 4.7% year-on-year growth and reinforcing its dominance in the industry. But wait, there’s more—the company’s net profit skyrocketed by 12.6%, solidifying its position as a powerhouse in the retail world. From launching 21 new stores across the region to a massive e-commerce boom, Lulu Retail is rewriting the rules of success.
A key driver of this impressive growth has been the company’s strategic expansion. Opening new stores at an unstoppable pace, Lulu added six hypermarkets, 12 express stores, and three mini-markets, pushing its total store count to 250. This aggressive expansion strategy increased the brand’s total selling space by 5% to 1.3 million square meters, ensuring that Lulu is everywhere its customers need it to be. And if that wasn’t enough, they made a grand statement with the inauguration of their landmark 250th store in Jabal Omar, Makkah, with plans to open another major outlet in Madina soon.
But Lulu Retail isn’t just about brick-and-mortar domination—the company is taking e-commerce to stratospheric heights! Online sales skyrocketed by 70% year-on-year, now contributing 4.5% of total revenue, proving that Lulu is not just keeping up with digital transformation—it’s leading the charge. The brand’s Happiness Loyalty Program has also been a game-changer, surpassing 5.5 million members, with loyalty-driven sales accounting for 65% of total revenue in December alone.
To top it all off, Lulu Retail’s IPO on the Abu Dhabi Securities Exchange (ADX) in November 2024 was a showstopper, raising a jaw-dropping $1.72 billion amid massive investor demand. This financial milestone paved the way for a dividend payout of $84.4 million, rewarding shareholders and proving that Lulu Retail isn’t just growing—it’s thriving.
With unstoppable momentum, Lulu Retail is set to conquer 2025 and beyond, redefining the future of retail, one store, one click, and one happy customer at a time!
