Micky Jagtiani – The Journey From Being a Taxi Driver to a Billionaire

Mukesh ‘Micky’ Jagtiani is an Indian-origin business tycoon based in Dubai, who found his way into the club of billionaires by transforming a shop into a huge chain of retail outlets. Once a college drop-out and roving like a vagrant in the streets of London, Micky Jagtiani went to set up the Landmark Group, the retailing corporation, which has its headquarter in Dubai. Jagtiani is now one of the wealthiest persons in the world, making his way to the FORBES list of billionaires.

PC: thenational.ae

Early Life

On 15th August 1952, Micky was born in Kuwait to a small businessman father. He received the early education in Madras, Mumbai, and Beirut. Afterward, Jagtiani emigrated to England where he studied at an accounting school in London. However, he left his studies in-between to begin his start-up. But plagued by self-doubt and worries over a lack of experience in, Micky struggled much in his early days, and even worked as a taxi driver and cleaner to earn a living.

Following crises

In 1972, Micky returned to his family in the Gulf to start over his career. But he soon found himself in utmost destitution because of the successive deaths of his family members. His brother succumbed to leukemia, his father being a terminal diabetic left them too, and his mother died of cancer the following year. A very young Mickey without any career or companion had to face these quandaries all alone.

Into the Business

Moving aside all calamities, Micky took over the retail space in Bahrain that his brother had rented before getting sick. With some $6,000 left to him by his family, he bought baby merchandise to sell to families, particularly expatriates. Putting infant accessories, strollers, diapers, toys, cribs and the like under one roof was an excellent idea. Starting moderately, Jagtiani focused mostly on the thousands of Asian immigrants.

In initial years, he used to work himself at the shop. When his business started doing well, he hired one employee and did himself other managing affairs, like maintaining the store and going to bring the parcels.

The Success and the foundation of Landmark Group

After dedicatedly running his ‘Babyshop’ for a decade, Micky expanded it into six stores, employing some hundreds of people. When the Gulf War started, he planned to shift his retail business to Dubai and immigrated there with his family. There in Dubai, Micky founded his Landmark group, which later spread across the Middle East, Africa and India. From selling clothes and toys for children, Jagtiani also ventured into fashion, electronics, furniture, and hotel industry. Micky also started Splash, an affordable fashion line, conceived and managed by his wife, Renuka.

Landmark Group – At Present

There are now over 2,200 outlets under his corporation in which thousands of employees work. And the company continues to grow bigger as Jagtiani is about to set up further stores in Abu Dhabi’s luxurious Reem Mall and also in Oman’s Muscat Grand Mall. His wife is in charge of Landmark International, which takes charge of exclusive enterprises. She has played a major role in the growth of the corporation, buying franchise rights for international fashion brands as the UK’s New Look, Reiss and Aftershock (women’s wear) and Turkish fashion brand Koton.

According to recent FORBES figures, Micky Jagtiani’s net worth is $4.4 billion putting him into the 367th position in the list of billionaires.

PC: thehindubusinessline.com

Philanthropy

Jagtiani is not only rich regarding wealth; he is more vibrant at heart. In 2000, he formed a charitable organization by the name LIFE (Landmark International Foundation for Empowerment). The organization is taking care of educational and medical needs of over one lakh underprivileged children in India. The non-profit initiative also provides them with vocational training and non-formal schooling. LIFE runs many community clinics for slum-dwellers and an old age home in Chennai.

Life is always full of difficulties and challenges. You could give in to the hardships of life; or you may rise to the situation like Micky Jagtiani, who not only made a better lot for himself but also for people around him and his country too. This journey of a man who once struggled for daily needs and from there went on to built a business empire, astonishes us very much. But Micky Jagtiani seems to have followed a simple process. He started from where he was. He exploited whatever resources he had at his disposal. And he did everything that he could. This is the simple philosophy of success. We should make small goals and, with time, they would themselves get evolved into big things. All we need is to keep doing until it is not done.

References:

https://www.forbes.com/lists/2008/77/indiarichest08_Micky-Jagtiani_OM7W.html

http://www.business-standard.com/article/current-affairs/micky-jagtiani-among-top-10-richest-indians-115073100177_1.html

Add Comment