Designation

Founder

Industry

Retail

Wealth

$510m

24
Nilesh Ved

Tim Hortons, Aeropostale, Cold Stone Creamery and Tommy Hilfiger. You name it, Nilesh Ved has a hand in it. Ved’s family has run the largest gold bullion trading firm in Dubai since 1904. But he became more intrigued  with the American retail environment after graduating with a Bachelor of Science in Business Administration degree at Boston University.

Ved now heads up the UAE’s Apparel Group, which has over 700 stores and more than 50 international brands under its umbrella and is aiming to achieve its goal to open its 1,000th store by the end of 2014. Ved was instrumental in 1999 in bringing the US clothing brand Ninewest from America, and launched the first stores in Lamcy Plaza in Dubai.

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