Dubai’s Landmark Group founder Micky Jagtiani dies

Dubai: One of the doyens on the UAE and Gulf business landscape, Micky Jagtiani, has died. The founder of the Landmark Group had through the decades built up a multi-billion corporate behemoth and with interests across markets, in the region, the subcontinent and beyond.

It was Micky at the helm of Landmark Group – comprising max, babyshop, Splash, homecentre and other immensely influential brands – that built up the network, first in the Gulf markets, then across the region and into India as well.

His wealth was estimated $5 billion plus by Forbes - but there was much more to the man than just what he had. Landmark has been one of the systemically vital job creators in the Middle East.

Micky Jagtiani was 70 years old. 

Landmark was one of the pioneers among family-owned businesses in the Gulf that was never content with being dominant in any one market. The Micky formula for the retailer was to head into new markets - at the first opportunity itself. And not just with one brand.

"The Group could so so easily have focussed on a handful of brands and hope those would get bigger," said one consultant who had worked closely with the group. "Mickey and Renuka (his wife) never wanted that. They went bold on brand extensions and additions - well before others cottoned on to the idea.

"That's what made Landmark exceptional. Micky too."

One of the wealthiest men in the Middle East (and beyond), Micky's other strength - some say 'super-strength' - was his delegating of responsibilities. This meant each brand/division charted a way to prominence with operational flexibility, said a source who had worked with the group.

"I have known Micky from the time he moved to Dubai in the early 90's," said Ishwar Chugani, Managing Director of Giordano Middle East. "We spoke quite often, met a lot in the malls as we were both doing our MBWA - 'Management By Walking Around'.

"He was a visionary, leader, mentor and dear friend."

And what did Chugani learn from Micky? 'Humility...'

Landmark's workforce numbers are around the 48,000 mark, affirming its status as one of the biggest employers in these markets. Multiple HR industry sources have in the past spoken about the low staff turnover rates the group has had through the years, especially at the senior executive levels.

Many who knew Micky observed his habit of turning up at malls to get a first-hand feel of consumer vibes. He could take a favoured spot in one of the F&B joints and take out that 'pen and pad'.

"He paid attention to the details, took bold steps, and valued people he worked with," said a marketer. "In many ways, he was a pioneer - he created a culture that has led to innovation in building original brands, an unparalleled retail infrastructure and a community of loyal Landmark employees. And customers."

Even with brands such as babyshop and homecentre in the Landmark portfolio, the Group still went ahead with an online push fairly early in the ecommerce evolution. But where the Group has scored is on the omni-channel side of things, where it has been able to leverage the physical presence of its brands into creating hybrid possibilities.

Landmark also focussed on the supply chain side of things - for confirmation all one needs to do is pass through its state-of-the-art logistics hub in Jebel Ali Free Zone, which went operational just ahead of the pandemic times. And came in handy during all the subsequent phase of supply disruptions in the wake of Covid.

That was quintessential Landmark - being ahead of its times. A legacy of Micky Jagtiani...