Dubai's Landmark Group founder Micky Jagtiani dies
TDT | Dubai
The Daily Tribune – www.newsofbahrain.com
Micky Jagtiani, a prominent Dubai-based businessman who created retail giant Landmark Group, has died today, the company announced.
"The Landmark Group today announced that its eminent founder and chairman, Mukesh "Micky" Jagtiani, has passed away peacefully, surrounded by his loving family," the business stated in an email statement.
Jagtiani, who was born in India, founded the company in 1973 with one store in Bahrain and expanded it throughout the Middle East, Africa, and India.
The Babyshop, Centrepoint, Home Centre, Lifestyle, Splash, Shoemart, and Emax brands are all based in Dubai.
Jagtiani was 70. His real-time net worth as of today is $5.2 billion.
Landmark suspended sales of all Trump-branded products in its stores after the then US president made anti-Muslim remarks during his election campaign.
Dubai Crown Prince Shaikh Hamdan bin Mohammed bin Rashid Al Maktoum, who is also the chairman of the Dubai Executive Council, tweeted: “Today, we mourn the loss of Micky Jagtiani, the founder of Landmark Group and an integral part of Dubai’s success story. His philanthropic legacy and contributions to the UAE's economy and society over the last three decades will be remembered forever. We extend our heartfelt condolences to his family and the Landmark Group team."
Micky Jagtiani worked as a cab driver in London before migrating to Bahrain and opening baby goods store in 1973 called Mothercare
He grew it into the Dubai-based Landmark Group, which his wife Renuka now manages as chairman and CEO. Landmark has 2,200 locations in 24 countries spanning the Middle East, Africa, Southeast Asia, and the Indian subcontinent. His three children are directors in the group, in charge of various parts of the firm. Landmark Group first arrived in India in 1999 and today operates a variety of retail formats, including Lifestyle and Max for clothing and Home Centre for furniture and home accessories.