The next generation seems well poised to carry the torch of Yusuff Ali and his LuLu Group
For quite some time now, Yusuff Ali Musaliam Veettil Abdul Kader, or Yusuff Ali MA as he is popularly known, had made it a habit of doing things all by himself.
After all, that’s how he went from being a small-time grocer, who migrated to the Middle East with barely any money at the age of 16, to eventually emerge as one of the world’s richest men and perhaps the most influential Indian in the region. With a personal wealth of $4.75 billion and some 48,000 employees under him, Ali runs the popular LuLu Hypermarkets across the Middle East and India, making him the 26th richest man in India, according to the 2018 Forbes India Rich List.
The LuLu Hypermarkets see 1.35 million shoppers a day and operate about 154 shopping centres across 23 countries. The group’s mall in Kerala’s Kochi is counted among one of the largest in India.
But, at 62, Ali knows he isn’t getting any younger. That’s perhaps why, over the past few years, he has turned to his sons-in-law to expand the group into newer areas. They were tasked with identifying their areas of interest and setting up businesses, with zero interference from their father-in-law.
“I have always made it clear to my sons-in law,” Ali tells Forbes India over a call. “They are free to do what they want to. I will be a guide, mentor and friend to them. But they were always asked to find their areas of interest and build the business. I have nothing to do with that.”
The eldest sonin-law, Shamsheer Vayalil, 41, runs VPS Healthcare, which operates 20 hospitals and over 125 medical centres, spread across the Middle East, Europe and India. Vayalil, who is on the 98th spot on the Rich List, is a radiologist by profession and is married to Ali’s eldest daughter Shabeena.
هذه القصة مأخوذة من طبعة December 28, 2018 (Rich List) من Forbes India.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة December 28, 2018 (Rich List) من Forbes India.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Home-Cooked Meal Is Now Greatly Valued
The pandemic has also brought with it an improved focus on hygiene, use of technology in dining, rise of cloud kitchens and resurgence in popularity of Indian ingredients
Paytm 3.0 - Reaching Near Breakeven In Two Years
As of 2020, Vijay Shekhar Sharma’s super app for financial services had run up losses in thousands of crores. Now, as digital payments gets yet another boost courtesy Covid-19, he’s hopeful of reaching near breakeven in two years
THE PANDEMIC HAS CAUSED WOMEN GREATER LABOUR PAIN
Covid-19 has shown that women are more likely to face the brunt of job losses than men, and find fewer opportunities when they want to resume. That apart, several have to deal with increased hours of unpaid work at home and even domestic abuse
LEADERSHIP WILL BE ABOUT SEEING THE BIGGER PICTURE
Leaders must not only guard their teams first during a crisis, but also deal with stakeholders with respect and dignity. And apart from pursuing business goals, they should remain committed to our planet and the environment
PHILANTHROPY SHOULD BE HUMBLE, BUT NOT MODEST
Apart from building a flexible and resilient framework for the future, philanthropists, civil society and the government must work in tandem so that every rupee is absorbed on the ground
INTEGRATED HEALTH CARE, TECH WILL DISRUPT SECTOR
While clinical research will get a boost, having a skilled workforce and public spending on health care will be challenges in the near term
DIGITALISATION WILL HELP IN VALUE CREATION
As the pandemic brings technology and innovation to the core of business and daily life, the next decade will see about 150 million digital-first families in India
Industry 4.0: Climate Revolution?
Augmenting sustainability alongside digital capabilities is an economic, competitive and global opportunity for India’s businesses, but regulations need to reflect intent
EV Dream Still Miles Away
Electric vehicles have remained a buzzword in India for years. But not much has moved on ground due to high upfront costs, range anxiety and charging infrastructure
Living Waters
A virus has caused us to scramble for oxygen but our chokehold on the environment is slowly strangling the very waters that breathe life into us. The virus is a timely reminder: We are merely consumers, not producers of life’s breath on this planet
