M. A. Yusuff Ali is an Indian businessman and billionaire. He is the chairman and managing director of LuLu Group International, which owns the LuLu Hypermarket chain worldwide and LuLu International Shopping Mall. With an annual turnover of US$8.4 billion, LuLu Group International employs the largest number of Indian diaspora|Indians outside India.

Early Beginning

It was on December 31, 1973, when Yusuff Ali M.A. reached the shores of the UAE from Mumbai onboard a ship, named ‘Dumra’. Hoping to become a successful entrepreneur, he started working at his uncle’s small distribution business in Abu Dhabi.

In the early 1970s, Yusuff Ali moved to Abu Dhabi, United Arab Emirates, where his entrepreneurial journey began. The Gulf region was experiencing rapid economic growth, driven by the oil boom, and Yusuff Ali saw an opportunity to make his mark.

Founding of Lulu Group International

In 1973, Yusuff Ali joined his uncle’s small distribution business, which traded in frozen foods and other products. His vision, however, extended beyond the traditional wholesale business. He recognized a gap in the market for quality retail outlets that could cater to the growing expatriate population in the UAE.

In the early 1990s, Yusuff Ali took a bold step by launching the first Lulu Hypermarket in Abu Dhabi. This was a turning point in his career. The hypermarket offered a wide range of products, from groceries to electronics, at competitive prices, setting a new standard for retail in the region.

Expansion and Growth

The success of the first Lulu Hypermarket led to rapid expansion across the UAE and other Gulf Cooperation Council (GCC) countries.

Yusuff Ali's focus on providing a world-class shopping experience, combined with his ability to adapt to the diverse needs of the region’s multicultural population, helped Lulu Group become one of the largest retail chains in the Middle East.

Under Yusuff Ali's leadership, Lulu Group International diversified its business interests, expanding into sectors like manufacturing, import and export, and hospitality.

The group’s operations extended beyond the Middle East to include Asia, Africa, and Europe, with over 200 hypermarkets, supermarkets, and shopping malls.

Global Footprint and Diversification

Yusuff Ali’s ambitions extended beyond the Middle East. Today, LuLu Group International operates approximately 260 hypermarkets and shopping malls across 24 countries, including India, Egypt, Thailand, Vietnam, Malaysia, the Philippines, China, the UK, and the US. This global footprint underscores the group's strategic diversification and adaptability to various markets.

Expansion in India and Financial Ventures

In 2006, Yusuff Ali launched his business in India by opening the LuLu Convention Centre cum hotel in Thrissur, Kerala. His investment strategy continued with the acquisition of a 49.99% stake in Catholic Syrian Bank (CSB) and Dhanlaxmi Bank in 2013, and an increased ownership in the Federal Bank to 4.47% the same year.

The opening of the first Lulu Mall in Kochi in 2013 marked another milestone in his Indian operations, followed by further expansions in Lucknow and Bengaluru.

Strategic Investments and Future Plans

Yusuff Ali's strategic foresight was evident when, in 2020, a member of the Abu Dhabi royal family acquired a 20% stake in LuLu Group for $1 billion. This investment was a precursor to Yusuff Ali's plans to take the retail giant public, with an IPO reportedly planned for 2023.

Acknowledged as one of the world’s 50 fastest-growing retailers, LuLu Group International has earned its place on the global stage. Deloitte’s recognition of the group as one of the fastest-growing retailers worldwide cements its position as a dynamic and influential player in international retail.

Lulu Group Funding

LuLu Group International has primarily been privately funded through internal accruals and strategic investments. In April 2020, a notable funding event occurred when a member of the Abu Dhabi royal family acquired a 20% stake in the group for $1 billion. This investment was a key indicator of the confidence investors have in the group's business model and growth prospects.

The group has also engaged in various financial ventures, including investments in Indian banks such as Catholic Syrian Bank (CSB) and Federal Bank. These investments have not only diversified the group’s portfolio but also strengthened its financial standing.

Lulu Group Market Valuation

The market valuation of LuLu Group International is not publicly disclosed, as the company remains privately held. However, given the significant scale of its operations—spanning over 260 hypermarkets and shopping malls across 24 countries—and its standing as one of the world’s fastest-growing retailers, the group's valuation is estimated to be substantial.

Reports from industry analysts and financial experts suggest that LuLu Group's valuation could be in the range of several billion dollars. The $1 billion investment for a 20% stake in 2020 implies a valuation of approximately $5 billion at that time. However, considering the group's expansion and continued growth, the current valuation could be higher.

Potential IPO

There has been speculation about LuLu Group International potentially going public. An IPO would likely bring more transparency to the group's financials and could significantly increase its market valuation. If the IPO were to happen, it could place LuLu Group among the top publicly traded retail companies globally.

Philanthropy and Social Impact

Beyond business, Yusuff Ali is deeply committed to social, charitable, and humanitarian activities. He has played a pivotal role in various global charity initiatives, including adopting schools in Gaza and Nepal in partnership with Dubai Cares. His contributions also include the establishment of a multi-faith funeral center for the Indian community in Sharjah, spread over 8.3 acres.

A Legacy of Excellence

M. A. Yusuff Ali’s success story is a powerful example of how vision, perseverance, and a commitment to social responsibility can lead to unparalleled success. His journey from a small village in Kerala to leading a global retail empire is not just a story of business achievement but also one of creating a lasting positive impact on society.