50 Richest Indians in the GCC 2016
Mon 15 Feb 2016 04:54 AM
Nilesh Ved

Nilesh Ved

Industry: Retail

Company: Apparel Group

Designation: Founder

Country: UAE

Wealth: 585 Million

An the verge of achieving a long-time goal to open its 1,500th store, there is no question Apparel Group has a strong footing in the GCC retail industry.

Starting in 1999 with the UAE’s first Nine West shoe store, Nilesh Ved’s vision to bring American brands to the Middle East has certainly paid off. He now has rights to 55 international brands under his belt, including multiple other shoe brands such as Aldo and Sketchers, clothing brands such as Calvin Klein and Beverly Hills Polo Club, and food and beverage outlets such as Tim Hortons and Cold Stone Creamery.

Operations are now spread across the GCC, as well as in India, Russia, Poland, Thailand and Malaysia.

With many of his ancestors also successful entrepreneurs — his family has run the largest gold bullion trading in Dubai since 1904 — Ved graduated with a Bachelor of Science in Business Administration from Boston University and quickly embarked on his own business voyage.

Ved has often said that the staff are the company’s greatest strength and last year Apparel Group won an ‘employer of the year’ award and was listed among the best companies to work for.

The Dubai Department of Economic Development also announced in December that it had rated the company in the ‘VIP Category’ for its compliance with business regulations and for successfully implementing the ‘self-inspector’ initiative. These accolades show Apparel Group is not only about quantity but also quality.