Micky Jagtiani obituary – Micky Mukesh Jagtiani, the founder of Landmark Group, has died. Jagtiani was born on August 15, 1952, and died on May 26, 2023, at the age of 70.
Jagtiani founded the empire in 1973, and it has since grown dramatically to include over 50 brands such as Babyshop, Splash, Home Centre, Centrepoint, Shoemart, Emax, and others.
Micky had an elder brother, Mahesh, who was stricken with leukemia in 1972 and died within months. Micky’s diabetic father died soon after, and he lost his mother to cancer the following year (1973).
Jagtiani’s journey to wealth began in Bahrain when he took over his deceased brother’s shop and converted it into a baby items store (Babyshop).
After ten years of working in the shop, Jagtiani expanded the business by adding six new locations.
After the Gulf War broke out, he relocated to Dubai and created the Landmark Group.
The Landmark Group has expanded into fashion, electronics, furniture, and cheap hotels in the Middle East and Southeast Asia.
The Landmark Group currently employs around 45,000 people and has over 1000 outlets in the Persian Gulf region, the Middle East, and India.
In 2008, Jagtiani purchased a 6% share in the English high-street store Debenhams, making him the 16th richest Indian with a net worth of USD 2 billion.
In 2014, he established a family office with $5 billion in assets.
Jagtiani’s rise to wealth is a classic rags-to-riches tale, with Forbes estimating his net worth at the time of his death to be US$5.2 billion.
Jagtiani is survived by his wife Renuka, children Nisha Jagtiani, Rahul Jagtiani, and Arti Jagtiani as well as his grandchildren Samar, Nikhil, Yohan, and Aliya.