UAE-based retailer Lulu Group International has expanded into the US with a food processing and logistics plant in New Jersey.
The company opened the facility in Lyndhurst through its new, wholly owned subsidiary, Y International.
The export facility aims to purchase, process, re-label and export food, non-food, chilled and frozen products made in the US across the world, Lulu Group announced.
In the first phase of operations the plant will employ 75 employees, but this is expected to grow to between 200 and 250 employees within one year.
The company has a 32 percent market share in the Middle East and said it has a global turnover of $6.6 billion.
Deloitte’s Global Powers of Retailing report, published in January, named EMKE Group, which runs the Lulu chain of supermarkets, among the fastest growing retailers in the world.
Lulu Group has been on an aggressive expansion drive in the past two years, with new operations announced in Egypt, Bahrain, Saudi Arabia, India, Indonesia and Malaysia.
Chairman Yusuffali MA said the new facility was intended to meet rising demand for US products in the Middle East and Asia. “Our group has been importing US products for a long time to cater to more than 700,000 shoppers who come to our 131 hypermarkets daily.
“There has been growing demand for U.S. products throughout our retail chain stores, across the GCC, India and Far East,” he said.
Michele Brown, CEO and president of inward investment agency Choose New Jersey, said: “In addition to bringing new jobs to our state, Y International's export centre will give New Jersey and US manufacturers the opportunity to reach new markets in the Middle East and beyond.”
Source: Arabian Business
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