Micky Jagtiani founded the Landmark Group, which has now become one of the largest retail conglomerates in the Middle East, Africa, and India. The Group started as a single baby product store in Bahrain in 1973.
AASHISH KUMAR JHA | Apr 26, 2023 |
Meet Micky Jagtiani: From a Taxi Driver to a Billionaire, with a Net Worth of Over 42000 Crores
Micky Jagtiani: Success stories come in all shapes and sizes, and the journey of Mukesh Jagtiani, the founder of the Landmark Group, is a true testament to this fact. Mukesh Wadhumal “Micky” Jagtiani, famously known as Micky Jagtiani, a business magnate headquartered in Dubai, has produced one of the most astonishing success stories in recent history. The man who once drove a taxi and cleaned hotel rooms rose to become a poster boy for Indian migrants’ success in a world of new prospects.
Mukesh Jagtiani is a well-known businessman in the UAE who has demonstrated to the world how to rise from rags to riches. Mukesh ‘Micky’ Jagtiani formed the international company Landmark Group, which has now become one of the largest retail conglomerates and is regarded as one of the richest Indians in the UAE. Jagtiani’s journey to becoming a billionaire entrepreneur is nothing short of remarkable.
The Landmark Group is involved in retailing apparel, footwear, consumer electronics, cosmetics & beauty products, home improvement, and baby products. The Group is present all over the world. The Landmark Group also focuses on hospitality & leisure, healthcare, and mall management. The whole business of the Landmark Group can be broadly divided into retail, hospitality, and healthcare. The Landmark Group rose to prominence because of its retail business, operating by the name of Landmark Retail Stores.
Mukesh Jagtiani, also known as Micky Jagtiani, was born in Kuwait in 1952. He moved to India and completed his schooling there. He did his schooling in Chennai and Mumbai in India. After finishing school, he went to London to pursue an accounting course at an accounting school. But, he eventually dropped out of school. He began his work in London as a taxi driver and hotel cleaner before fate intervened and his parents and sibling died in a short period of time due to a personal tragedy. Micky is married to Renuka Jagtiani, the billion-dollar conglomerate’s CEO and chairperson. The couple has three children, all of whom are Group Directors in the company: Aarti, Nisha, and Rahul.
Following a personal tragedy in which both his parents and brother died suddenly, Jagtiani relocated to Bahrain in 1973 and took over his late brother’s shop. Micky did not have any family left when he entered the business world for the first time. He converted his brother’s shop into a baby product store with the help of 6000 dollars inheritance money. Despite being dropped out of accounting school, he began expanding his company with a strong business sense.
What started as a small toy shop in Bahrain in 1973, became one of the largest business enterprises in the world. Jagtiani converted the toy store into a baby products store, which he successfully ran for ten years before expanding to six more locations. The Gulf War occurred when Jagtiani was constructing more stores, forcing him to relocate to Dubai. He founded the Landmark Group there (in Dubai), which later expanded into industries such as fashion, electronics, furniture, and cheap hotels in the Middle East and Southeast Asia.
In 2008, Jagtiani purchased a 6% share in the UK high-street store Debenhams, propelling him to the Forbes List of Billionaires and making him the 16th richest Indian with a net worth of $2 billion. He established his family office in 2014, with $5 billion in assets. According to Forbes Real Time Billionaires data, Jagtiani now has a net worth of $5.2 billion (more than 42000 crores).
The Landmark Group has around 2,200 stores encompassing over 30 million square feet in 24 countries across the Middle East, Africa, Southeast Asia, and the Indian subcontinent. Landmark Group first arrived in India in 1999 and today operates a variety of retail formats, including Lifestyle and Max for clothing and Home Centre for furniture and home accessories. The Landmark Group earned a revenue of Rs 8,101 crores in the year 2021-22. The profit for the same year stands at Rs 269 crores. The Landmark Group employs more than 55,000 employees as of December 2015.
Mukesh Jagtiani’s journey from a taxi driver in London to a billionaire businessman is an inspiring story. His perseverance, entrepreneurial spirit, and vision have made the Landmark Group a success story that continues to inspire millions of people worldwide.
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