UAE based multinational conglomerate Lulu Group is all set to invest $300 million in the retail, logistics and hospitality sectors of Karnataka. As a part if this, Lulu mall will start the operations in Bengaluru’s Rajajinagar area by August. Lulu’s first mall in India was opened in Cochin which proved to be a huge success creating an adverse effect on almost every other mall in the city.
The discussion regarding Lulu’s investment plan was held between Karnataka’s Chief Minister BS Yediyurappa and Yusuff Ali, Chairman and Managing Director of Lulu Group on the sidelines of the World Economic Forum in Davos.
The multinational company will also set up two five-star hotels in Bengaluru through Twenty14 Holdings, its hospitality arm, and a modern logistics centre in the Uttara Kannada region.
Lulu Group’s retail initiative Tablez has brought many international brands to India such as Toys ‘R’ Us which is one of the largest toy store chains, American ice cream parlour chain Cold Stone Creamery, South Africa based flame-grilled chicken concept Galito’s and Tablez’ own brand Bloomsbury’s which is a boutique cafe and bakery. It has also launched Spanish fashion brands Springfield and Women’s Secret.