Company: Landmark Group
Wealth: 3.2 Billion
If you’ve lived in the GCC for any length of time chances are you will have shopped in at least one of Micky Jagtiani’s stores. Jagtiani founded the Landmark Group in Bahrain in 1973 with a single store. Today, his Dubai-based company is one of the largest retail conglomerates in the region with interests spanning children’s fashion, footwear and cosmetics, with additional interests in leisure, hotels and electronics.
Landmark operates a string of international stores such as New Look, Shoemart, Steve Madden and Kurt Geiger and has also developed its own brands including Maxx Fashion, Splash, the Baby Shop and the Home Centre.
With all those brands, it’s not surprising Jagtiani’s operations have a turnover of $3.8bn a year.
But Jagtiani doesn’t plan to stop any time soon. Landmark recently said it plans to open a further 200 stores in the Middle East over the next 12 months as part of a regional expansion plan. The plan will pay particular attention to its newly developed confectionary and savoury snacks concept, Candelite, which launched in February this year.