Micky Jagtiani's retail business growth
Micky Jagtiani is the richest Indian expatriate in the Gulf Cooperation
Council with a fortune of $3.2 billion. His Landmark Group's presence
has grown in West Asia, Egypt, Pakistan, and India, where it has 101
outlets in retail, hospitality, and mall management.
Retail rush
February 24, 2008
Then: The Oasis Centre is a new 200,000-square feet retail centre on Bangalore's Intermediate Ring Road and was opened in late January by the $2-billion Landmark Group, based in Dubai. Backed by music, balloons and confetti, the place was thrown open to business as an odd selection of hangers-on, store staff and visiting journalists looked on. The centre of attention was a man in a dark blazer and khakis, who seemed embarrassed by the attention. This reticent man is Mukesh 'Micky' Jagtiani, a one-time cabbie-turned retail mogul.
Jagtiani started with just one store in West Asia three decades ago; today, his empire has expanded to 600 stores that employ 20,000 people, with operations in India, China and Europe. Jagtiani plans to invest $500 million in expanding his India footprint. "The competition is intense in India with Biyani, Ambani, and Mittal on a massive expansion path but we believe we've created our own niche here," he says.
Now: Micky Jagtiani is the richest Indian expatriate in the Gulf Cooperation Council with a fortune of $3.2 billion. His Landmark Group's presence has grown in West Asia, Egypt, Pakistan, and India, where it has 101 outlets in retail, hospitality, and mall management.
February 24, 2008
Then: The Oasis Centre is a new 200,000-square feet retail centre on Bangalore's Intermediate Ring Road and was opened in late January by the $2-billion Landmark Group, based in Dubai. Backed by music, balloons and confetti, the place was thrown open to business as an odd selection of hangers-on, store staff and visiting journalists looked on. The centre of attention was a man in a dark blazer and khakis, who seemed embarrassed by the attention. This reticent man is Mukesh 'Micky' Jagtiani, a one-time cabbie-turned retail mogul.
Jagtiani started with just one store in West Asia three decades ago; today, his empire has expanded to 600 stores that employ 20,000 people, with operations in India, China and Europe. Jagtiani plans to invest $500 million in expanding his India footprint. "The competition is intense in India with Biyani, Ambani, and Mittal on a massive expansion path but we believe we've created our own niche here," he says.
Now: Micky Jagtiani is the richest Indian expatriate in the Gulf Cooperation Council with a fortune of $3.2 billion. His Landmark Group's presence has grown in West Asia, Egypt, Pakistan, and India, where it has 101 outlets in retail, hospitality, and mall management.
