Micky Jagtiani, the billionaire businessman who founded Dubai-based retail company Landmark Group, has died aged 70.
Mr Jagitani set up Landmark Group in 1973 with one shop in Bahrain and oversaw its expansion into one of the largest retail and hospitality conglomerates in the Middle East, Africa and India.“Mr Jagtiani was the driving force in shaping the conglomerate’s extraordinary journey,” a statement from the company said.
“His strategic acumen enabled the Landmark Group to emerge as the region's foremost retail and hospitality conglomerate.
“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.
“He leaves behind enduring friendships, partnerships, and bonds with the Group’s senior management, the industry and wider community, whose lives he touched profoundly.
“The Landmark Group remains committed to carrying forward his spirit and ensuring the continuing success of his ambitions and dreams.” A public condolence gathering is scheduled to take place on Monday in his memory,” the statement said.
The group, which is chaired by his wife Renuka Jagtiani, operates more than 2,200 outlets, encompassing more than 2.7 million square metres across 22 countries in the Middle East and Africa, as well as the Indian subcontinent and South-East Asia.
It has more than 50,000 employees across the company's brands, which include Centrepoint, Babyshop, Splash, Lifestyle, Home Centre, Shoemart and Emax.
The company also created a comprehensive infrastructure including a fully fledged logistics and distribution division to support its retail operations. It has a total warehouse space of more than 9.3 million square foot spanning across GCC and Levant.
With a net worth of $5.2 billion, Mr Jagtiani was the third-richest businessman in the UAE and was ranked the 511th wealthiest person in the world on the Forbes ’ 37th magazine’s annual world’s billionaires list released in April.
Beyond the business, Mr Jagtiani played a key role in raising awareness about societal issues.
In 2019, Dubai's Crown Prince Sheikh Hamdan bin Mohammed met the businessman to thank him for the company's efforts in organising annual walks that highlighted the importance of sport in the fight against diabetes.
