Indian Rich List 2011
Tue 20 Sep 2011 11:54 AM
Nilesh Ved
15

Nilesh Ved

Company: Apparel Group

Country: UAE

Wealth: 480 Million

Occupation: Founder

From a long line of successful entrepreneurs, Nilesh Ved’s family has run the largest gold bullion trading firm in Dubai since 1904.

He became intrigued by the American retail environment after graduating with a Bachelor of Science in Business Administration while studying at Boston University.

Ved now heads up the UAE’s Apparel Group, which has over 620 stores and more than 50 international brands under its umbrella and is aiming to achieve its goal to open its 1000th store by the end of next year.

Ved was instrumental in 1999 in bringing the US clothing brand Ninewest from America, and launched the first stores in Lamcy Plaza in Dubai.

It was his dream to bring trendy and successful brands to the US and it was his leadership skills that helped turn the company into the success it is today.

Ved has since grown the business from just one brand and the company now has a strong foothold in the region’s retail and fashion industry. It has also set its ambitious sights on becoming a truly global player.