PM’s Daring Plan to Take Down Coles and Woolworths: Albanese Woos Middle East Supermarket Giant Lulu to Shake Up Aussie Grocery Market
- Anthony Albanese invites Lulu, the largest supermarket chain in the Middle East, to expand to Australia and break up the Coles and Woolworths duopoly
- The PM’s move comes as a free trade deal between Australia and the UAE is set to enter into force, removing tariffs between the two countries
- Lulu’s chairman, Yusuff Ali, met with Albanese at a specially arranged display of Australian products at a hypermarket in Abu Dhabi
In a bold bid to inject some much-needed competition into Australia’s grocery market, Prime Minister Anthony Albanese has courted Middle East supermarket giant Lulu to set up shop Down Under. Albanese’s move is seen as a direct challenge to the dominance of Coles and Woolworths, which have long held a stranglehold on the Aussie market.
“I want to see more competition,” Albanese declared, as he toured a Lulu hypermarket in Abu Dhabi. “This is a significant company that has an engagement with Australia, and I want to see that competition.” The PM’s comments came as he wrapped up a 10-day overseas mission, which included stops in the United States and the United Kingdom.
Albanese’s pitch to Lulu is part of a broader push to boost trade ties between Australia and the UAE, which is set to get a major boost with the entry into force of a free trade deal on Wednesday. The agreement will remove tariffs between the two countries, paving the way for increased trade and investment.
Lulu’s chairman, Yusuff Ali, was impressed by the PM’s enthusiasm, and the two men had a “little discussion” as they walked around the hypermarket. The store had been specially arranged to showcase Australian products, including meats, cheese, and biscuits. “We know that ALDI has come to Australia, but this is a significant player that has an engagement with Australia,” Albanese said.
The UAE is one of the wealthiest countries in the region, with two-way goods and services trade worth $9.9 billion in 2023, and two-way investment just over double that. The visit was also timed to coincide with the 50-year anniversary of formal diplomatic relations between the two countries.
As Albanese prepares to head back overseas for a series of international gatherings, his meeting with Lulu’s chairman has sent a clear signal that he is serious about shaking up the Aussie grocery market. With the PM’s backing, Lulu may just be the catalyst for some long-overdue competition in the sector.