Source: EY
The GCC has emerged as a prime destination for retail growth across the world, with many successes of visionary business leaders reshaping the consumer landscape. Two retail kings among these visionary business leaders are dominating the GCC Markets. They are Micky Jagtiani, the founder of Landmark Group and Yusuff Ali, the founder of LuLu Group International. Their journey reflects their commitment to becoming billionaire retail kings of the Gulf from humble beginnings.
Micky Jagtiani: Billionaire Retail Tycoon
Source: Arabian News
In 1973, Micky Jagtiani migrated to Bahrain to start his entrepreneurship career. He began retailing baby products from a small local store, with his consumer-centric and strategic mindset, the store started to gain popularity rapidly among young families. Gradually, he diversified product ranges and created the ‘Landmark Group’, one of the most prominent retail and hospitality companies in the Middle East, Africa, and India.
Today, Landmark Group operates over 2,300 outlets across 23 countries with a workforce of over 55,000 people, including brands like Max Fashion, Home Centre, and Splash, offering all tailored tastes to middle-income buyers. Jagtiani’s success weapon is understanding the regional consumer psychology and offering affordable fashion with local retail concepts.
His strategy to blend quality for money with scale and efficiency evolved the Landmark Group to dominate the Gulf while surpassing international players and creating a net worth of $5.2 billion. Even after his passing away in 2023, his legacy continues to shape the region’s retail trends.
Yusuff Ali: The Retailer King
Source: The Financial Express
Yusuff spent his early years living in Nattika, Kerala, from where he imparted the values of hard work and empathy. He learned trading through his father’s small business and then moved to Abu Dhabi in 1973 to join his uncle’s small trading business. After attaining business knowledge in 1995, Yusuff founded the LuLu Hypermarket, with a focus on trading and supplying goods across the Gulf region with scale, diversity, and affordability.
Under his leadership, the business expanded to include cold storage and food processing, growing into an international group operating over 250 stores across the Middle East, Asia, and Africa. By 2000, he expanded the ‘LuLu Group’ across the GCC countries by opening supermarkets and by 2024, he attained his expansion vision in India by establishing malls, hotels, and convention centres.
Yusuff Ali built his business empire on a high level of social responsibility, giving employment to tens of thousands of employees from his home country of India. His business model was built around fresh food, affordability, and cultural inclusivity, making LuLu the first choice among the GCC’s highly growing competitive market.
Vision and Influence
Both Yusuff and Micky have leveraged the GCC’s fast urbanisation, population expansion, and need for contemporary retail. Their success story indicates the potential within the GCC for migrant entrepreneurs who are ready to fit in, innovate and lead in the Gulf.
Their impact goes beyond retail. Micky’s Landmark group has ventured into healthcare, hospitality, and e-commerce, while Yusuff have ventured into real estate, banking, and logistics, aiding in the economic growth of the region.
Conclusion
From humble roots to billion-dollar empires, Micky and Yusuff have redefined the retail space in the Gulf, catering to the needs of diverse customers and raising the bar for retail excellence. Their stories are a testament to the promise of the GCC market for bold visionaries who keep their promise. It is a reflection of visionary entrepreneurship, cultural flexibility, and sheer determination. As retail continues to evolve with its legacies, both retail kings will be symbols of ambition, resilience, and retail innovation.
