14-15 Page 4x2.qxp_A4 Temp 11/11/2016 22:24 Page 15
Asian Voice Global India Rich List - 2016
25(16)
Micky Jagtiani
Retail & Hotels - $ 4.3bn
28(47)
Dubai
L
andmark Group, headquartered in Dubai and owned by Micky Jagtiani, is into fashion, electronics, furniture, budget hotels, healthcare, fitness gyms and confectionary. It has nearly 2,000 stores in the Gulf, Africa and India. He has diversified into e-commerce through landmarkshops.com. His revenues exceed $6 billion. The group’s sports goods venture Sportsone is also growing fast. Jagtiani has a minority shareholding in British r e t a i l e r Debenham, as well.
25(21)
Feroz Allana
Food - $ 4.3bn
G
ulf-based IFFCO, founded by Feroz Allana in 1975, has interests in FMCG, commodities, oils, frozen foods and institutional services. Its brands include London Dairy, Tiffany, Noor, Rahma, Igloo and Al Baker. In India Allana Sons has investments in food production, marine products, retail and pet foods as well as general distribution. Allana advises the national and state governments in India on developing agri-oriented exports.
UAE
M A Yusuff Ali
Retail - $ 4.2bn
Abu Dhabi
T
wenty14 Holdings, the hospitality arm of M A Yusuff Ali’s LuLu Group, bought the old Scotland Yard building in central London for £110 in 2015. It is now being converted into a 92,000 square foot 5-star hotel to be called The Great Scotland Yard. It is scheduled to open in 2017. Its most expensive suite could cost as much as £10,000 a night. The property will be managed by Steigenberger Hotel Group. LuLu otherwise has a retail chain of over 120 markets, stores and grocery outlets and about a dozen shopping malls, spread across the Gulf, other parts of Asia and Africa. Yusuff Ali’s future plans include investing half a billion dollars in hotels, malls and food processing units in India. He already has a stake in Kochi’s airport. His 60,000 square foot waterfront home in the same city is the biggest private residence in Kerala.
12 29(45)
Madhukar Parekh
Adhesives - $ 3.9bn
India
P
idilite Industries, which belongs Madhukar Parekh, experienced a 40% rise in its share value. Lower raw material costs led to higher profits, notwithstanding a general slowdown in the economy. The company’s brands like Fevicol (which has a 70% market share in white glues), Mseal and Dr Fixit are household names in India. Apart from adhesives, the company makes art material, waterproofing and construction chemicals. Parekh inherited Pidilite from his father who died in 2013. The family have a 70% stake in the business. 15