Lulu Group, based in the United Arab Emirates, had been making various rounds of promotions and clearance sales at its outlets earlier this year, culminating in a closure notice posted on the doors of its first ever outlet at CapSquare in Kuala Lumpur about the cessation of operations effective June 9.
Lulu Group had six retail outlets in Malaysia (as at October 2022) when it opened a store in Johor Bahru. The company’s retail operations entered the Malaysian market back in 2016, and Lulu Group pledged to invest RM1.3 billion to open 10 outlets in Malaysia within five years.
There were also news reports of clearance and discount programs at one of Lulu Group’s outlets in Indonesia. They are other sources that reported the closure of Lulu hypermarket at QBIG BSD City, a shopping complex in the province of Banten, by the end of April.
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