Lulu Group to invest in Karnataka’s retail market, open more fashion stores through Tablez
Emirati multinational conglomerate Lulu Group has pledged to invest $300 million (Rs 1,995.83 crore) in Karnataka’s retail, logistics and hospitality sectors and plans to open more fashion stores through its retail arm Tablez.
Lulu Group will make a significant investment in Karnataka’s retail sector, the business’ chairman and managing director, M. A. Yusuff Ali, announced on the sidelines of the recent World Economic Forum in Davos, TNN reported.
Lulu Group will officially launch its Lulu Mall in Rajajinagar, Bengaluru, in August this year, as part of its investment and expansion plan.
The business also aims to open two hotels in Bengaluru through its hospitality arm Twenty14 Holdings and a logistics centre in Uttara Kannada. M. A. Yusuff Ali, who is originally from Kerala, opened his first Lulu Group mall in the state’s city of Kochi.
The business also retails brands in India under license through its organised retail arm Tablez which currently holds India licenses for fashion and lifestyle brands Springfield, Yoyoso, Desigual, and Women’secret.
Tablez currently runs two Women’secret stores in India and aims to increase the total to 18 in 2020, according, the business announced on its website. The brand also aims to increase its total store count for its four brands to 94 this year.
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