The Landmark Group is one of the biggest retail and hospitality companies in the Middle East, India and Africa. The group is known for a diverse range of value driven products for the whole family. The group brands include well known names such as Homecentre, Max, Lifestyle, Spar and many more. Did you know the brand was founded by an Indian? Here are some more details about the lifestyle brand founder that you may not know.
The Landmark Group not only includes brands such as Max, Lifestyle and Spar, it also boasts labels such as Steve Maddel, Kurt Geiger, New Look and Lipsy London. Their group founder also acquired a 6% stake in the UK high street retailer Debenhams.
The multinational conglomerate was founded by Indian billionaire Micky Jagtiani, who was born in Kuwait and did his schooling in Mumbai, Chennai and Beirut. Now based in the UAE, his business interests stretch over 22 countries!
According to Forbes, Micky Jagtiani drove a cab in London before he moved to Bahrain. It all started with him taking over his deceased brother's baby products shop in 1973. After managing the shop for 10 years, he expanded the business by opening 6 new shops. He then moved to Dubai after the Gulf war struck to launch the Landmark Group, which has an estimated annual revenue of $6 billionis today. Landmark brands employ 55,000 people and offers diverse products such as apparel, hospitality, healthcare, fitness & wellbeing, leisure, sports, hypermarts and more. The brand has 2,200 stores spread out over thousands of locations in Asia and Africa.
From humble beginnings, Jagtiani has created an international empire. Forbes puts his current net worth at $4.5 billion. He is at no 480 on the list of world billionaires and at no 32 in the list of richest Indians.
In 2014, Jagtiani launched a family office, and roped in JM Financial’s Sameer Lumba to manage the family assets then valued at $5 billion. He has come a long way since starting his business with a few thousand dollars left to him; to his current net worth.
The group is known not just for its products but also for its philanthropic endeavours. The Landmark International Foundation for Empowerment (LIFE) helps over one lakh Indian children with their medical and educational needs. The company also fulfills its corporate social responsibility via the Beat Diabetes Initiative which has its awareness campaigns across 7 countries and also undertakes other environment and community initiatives.
When he needed money in London, a friend suggested the job of ‘washing dead bodies’. He chose to drive a cab at night. He then became the general manager of a cheap hotel in London. He then went to Bahrain and made ‘simple decisions’ to get to where he is today. He has few needs, he says and he made his money by not being too greedy!
He may be very rich but he also stands up for what he believes in. The Landmark Group stopped selling goods of the Trump brand after the remarks Donald Trump made against Muslims during his election campaign!
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