With a personal fortune estimated to be more than $5bn he was one of the most successful self-made businessmen in the region, having built up success over decades.
The legendary retailer’s empire stretched to more than 2,000 stories in 24 countries across the Middle East, Africa and the Indian subcontinent.
Micky Jagtiani’s Landmark empire
The man behind brands such as Babyshop, Splash, Home Centre, Centrepoint, Shoemart, Emax, and many more, started working life in a much more modest fashion, however.
Born in Kuwait in 1952 he attended schools in India and Beirut before moving to London to study accounting.
There he worked as a hotel cleaner and an unlicenced taxi driver, far removed from a life of wealth and the empire he was soon to build.
Following a family tragedy Jagtiani moved to Bahrain to take over his brother’s shop.
What started with a baby item store in Bahrain back in 1973 would soon become the Landmark Group and one of the most powerful and well-known retail groups in the Middle East.
In 1990 the Landmark Group moved its headquarters to Dubai and the first Shoemart Store opened.
The iconic brands soon came.
A Babyshop opened in Oman two years later, Splash emerged in Sharjah in 1993 and by 1994 the group made a foray into Saudi Arabia.
The group, which now employs more than 50,000 people has been expanding ever since, with Jagtiani matching business successes with charitable work.
From Home Centre in 1995 to Lifestyle in 1998 and the UAE’s first Fun City in 1999, marking the launch of a hospitality division, Jagtiani’s empire contains some of the best-known brands in the region.
In 1999 the family business entered into India with the spread of Lifestyle department stores.
Micky Jagtiani was supported in the success and expansion of the business by wife Renuka.
For more than 25 years, Renuka Jagtiani, chairwoman and CEO of Landmark Group, has guided the group’s corporate strategy and grown the fashion and hospitality businesses.
A cornerstone of the company’s journey, Renuka Jagtiani was instrumental in creating the high-street fashion brand Splash in 1993.
In her current role, she oversees all retail and hospitality operations, leading strategic growth through expansion into new markets and driving the group’s CSR initiatives.
A statement released by the Landmark Group on Micky Jagtiani’s passing said: “Renowned for his exceptional leadership, unwavering customer-centric approach, and deep market understanding, his visionary spirit and strategic foresight helped the Landmark Group and its brands become a household name in the community.
“From its humble beginnings with a single store in Bahrain in 1973, Micky Jagtiani was the driving force in shaping the conglomerate’s extraordinary journey.
“His strategic acumen enabled the Landmark Group to emerge as the region’s foremost retail and hospitality conglomerate”.
In 2023 Micky Jagtiani was ranked 511 on the Forbes World Billionaire list, with a net worth of $5.2bn.
A remarkable journey from a humble beginning.
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