Startup Story: Today we are going to talk about the Chairman and Managing Director of Lulu Group International whose name is Yusuf Ali. Yusuf Ali is a very big businessman of India, Lulu Group International is known all over the world for opening his own malls and hypermarkets. In the year 2018, Yusuf Ali was declared India’s first Arabic businessman. Yusuf Ali’s Lulu Group has so far opened 5 Lulu Malls in India, the largest of which is Lulu Mall in Uttar Pradesh.
Yusuf Ali’s Early Life and Education
Yusuf Ali was born on 15 November 1955 in Nattika, Thrissur district of Kerala in a Muslim family, he did his high school from St. Xavier’s High School, Karanchira. Yusuf moved to Abu Dhabi from India after completing his studies in 1973. There he started helping his uncle MK Abdullah in his work. Let us tell you that Yusuf’s uncle MK Abdullah was the chairman and founder of Lulu Group of Companies.
He opened his first hypermarket in the year 1990. This hypermarket was named Lulu Hypermarket.
This brought a big change in the retail sectors of the UAE. The supermarket included household groceries. Food items were also included in this plan. Goods began to be exported from countries such as Europe and America, and by the 1980s, the company had acquired a substantial share of the retail food market.
This is how career started
Yusuf Ali started his career from India. Yusuf Ali started his career in the year 2006 from his ancestral residence i.e. Lulu Convention Center cum Hotel in Thrissur, Kerala. And later he also started big enterprises related to his business in India. Yusuf Ali took over a percentage of several banks in Thrissur. Yusuf Ali later bought the Scotland Yard building in London.
He took a 9 percent stake in Cochin, India’s international airport. In the year 2019, Lulu Group’s second Lulu Mall was opened in Thrissur itself. Fourth Lulu Mall was opened in 2021 in Trivandrum and in the year 2022 India’s fifth largest Lulu Mall was successfully inaugurated in Uttar Pradesh.
Net worth of more than $5.1 billion
Talking about the net worth of Yusuf Ali, his total assets are around $ 5.1 billion i.e. a total of Rs 39,240 crore. This is the only reason why his name appears in the list of 100 richest people in India Yusuf Ali popularly known as MA, is an Indian businessman living in the United Arab Emirates. Yusuf Ali is the CEO and President of Lulu Group International, as well as the owner of Lulu Hypermarkets, several Lulu malls around the world.
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