Yousuffali M.A., the man behind the Lulu group of supermarkets is among the five richest Indian entrepreneurs operating from the Gulf. He has emerged as a leader due to the vision of creating a business model that was innovative and lucrative at the same time. In 1973, after completing his education in Business Management and Administration, he left for Abu Dhabi to join the EMKE group of companies, founded and run by his uncle. He took over operations as the managing director of the group and began the implementation of his vision for the group. Working to develop the group into a global power, he developed the import segment, slowly venturing into wholesale. With the launch of the Lulu hypermarkets, that became popular for their value-for-money offerings during the 90s, there was no looking back. Today, the retail chain is among the fastest ten growing in the world.
With a firm foothold in the Middle East and Africa, Yusuffali has plans of expansion into the Indian market. The retail chain operates in models ranging from shopping malls to supermarkets to departmental stores and is supported at the back end of the business through the group’s interests in wholesale and distribution. Apart from this core business, he also has interests in healthcare, education and real estate among others. He has been active in the infrastructural development of his home state of Kerala, having invested in projects like the Cochin International Airport among others.
He has been awarded with the Padma Shri Award by the Government of India for his initiatives and for his outstanding achievements.
Yousuffali is also credited with crafting backward integration that provides support to the retail chain. Now, he has plans of expansion of the same model to a global scale.