1MIGHTY AND RICH
Despite the Indian economy growing at over 7.5 per cent the top 84 rich in the country lost 20 per cent of their wealth, which was down to $274 billion in 2016, as per the latest ranking of Forbes magazine, from $295 billion in 2015.
American business magazine Forbes released its annual list featuring richest people in the world on March 2, 2016.Out of the total 1,810 billionaires in the world, 345 have made their money in fashion and retail with products ranging from hardware to groceries to everyday market staples.
Today, even as retailers in India face the Herculean task of reaching out to the customer through a combination of mobile, social and human connect, we bring to you a list of top 10 Indian billionaires in the retail and consumer products category as per their wealth as on May 24, 2016, based on stock prices and exchange rates from that day.
Net worth (as on May 24, 2016): $20.4 Billion (Info Source: Forbes)
Retail Businesses: Relaince Fresh, Reliance Super, Reliance Mart, Reliance Market, Relaince Digital, digitalxpress, iStore, RelainceresQ, Relaince Jewels, Relaincefootprint, RelainceLiving, RelainceAutozone, Vimal, V2 Vimal
Mukesh Ambani, the 58-year-old chairman of the oil-to-yarn and retail conglomerate Reliance Industries Ltd (RIL), joined Reliance in 1981 and became its Chairman and Managing Director in 2002. An extreme innovator and believer in game-changing businesses of the future, Ambani is known for challenging conventional wisdom and spotting opportunities quickly.
Net worth (as on May 24, 2016): $11.4 Billion (Info Source: Forbes)
Retail Businesses: Godrej Appliances, Nature’s Basket, Home & Personal Care Godrej Expert, Cinthol, Good Knight, HIt, among othes)
A US$4.1 billion (revenues) consumer-goods conglomerate, Godrej Group, chaired by Adi Godrej, is an Indian conglomerate headquartered in Mumbai, Maharashtra. The group was established by lawyer Ardeshir Godrej, who gave up his profession to make locks in 1897. He launched the world’s first soap product made from vegetable oil in 1918. An MIT grad, Adi returned home to join the family business in 1963 and took charge as chairman in 2000. He took the Group to great heights during the License Raj.
4KUMAR MANGALAM BIRLA
Net worth (as on May 24, 2016): $6.9 Billion (Info Source: Forbes)
Fourth generation of renowned Birla clan, Kumar Birla, has chaired Aditya Birla Group for more than 2 decades. Birla took over as Chairman of Aditya Birla Group in 1995, at the age of 28. From a turnover of US$2 billion and operations in 8 countries in 1995, today under his stewardship, the Group’s revenues are in excess of US$41 billion with operations straddling 36 countries. He has made 36 acquisitions globally – the highest by an Indian multinational.
Net worth (as on May 24, 2016): $5.5 Billion (Info Source: Forbes)
Retail Business: Dabur
Burman was born in an Indian business family. His father was Ashok Chand Burman chairman emeritus of Dabur. Anand joined his family business Dabur as manager Research and Development department in 1980. He came on the companies board in 1986 and became chairman of Dabur in 2007. Burman family also holds the franchise for Mexican fast-food chain Taco Bell in India and opened its first store, in Delhi, in June.
Net worth (as on May 24, 2016): $4.7 Billion (Info Source: Forbes)
Retail Business: Landmark Group
Owner of the Dubai-based retail and hospitality group – Landamark group, Micky Jagtiani is known as Retailing magnate. Landmark reportedly has close to 2,000 stores generating an estimated $6 billion in revenues annually, across the Middle East, Africa and India. The group has recently forayed onto e-tailing with landmarkshops.com. (Image Courtesy: Forbes.com)
7M.A. YOUSUF ALI
Net worth (as on May 24, 2016): $4.6 Billion (Info Source: Forbes)
Retail Business: Lulu Group
Gulf-based retailer M.A.Yousuf Ali chairs the United Arab Emirates-based LuLu Group. With an annual turnover of US $5.5 billion globally, LuLu Group International employs the largest number of Indians outside India. The Group is known for running a retail chain of over 120 hypermarkets, supermarkets and grocery outlets, and a dozen shopping malls, mainly in the Middle East and Asia. Ali also has a hospitality arm Twenty14 Holdings.
Net worth (as on May 24, 2016): $2.7 Billion (Info Source: Forbes)
Retail Business: Parle Products
Parle Products was founded in 1929 in British India, owned by the Chauhan family of Vile Parle, Mumbai. Vijay Chauhan is the head of the clan that controls privately held Parle Products, India’s biggest foods company, famous for its cookies and confectionery brands such as Parle-G, a popular glucose biscuit, and candy Mango Bite. The original Parle company was split into three separate companies — Parle Products, Parle Agro, Parle Bisleri — owned by the different factions of the original Chauhan family. The USD1.3 billion (revenues) firm sells through a network of 3 million outlets extending even to the remotest villages of the country. Son Ajay and nephews Arup and Samar oversee 10 factories, 100 contract manufacturers and sales in 40 countries. (Image Courtesy: Forbes.com)
Net worth (as on May 24, 2016): $1.67 Billion (Info Source: Forbes)
Retail Business: Marico Limited
At 64, Marico Ltd’s patriarch Harsh Mariwala is a hands-off boss, leaving day-to-day operations of the Rs 5,000-crore (as on March 2015) FMCG firm to a CEO. Consumer goods veteran Harsh Mariwala chairs Marico, best known for its Saffola cooking oil and Parachute hair oil. Mariwala founded the company in 1990 and transformed a traditional commodity driven business into a leading Consumer Products & Services Company, in the Beauty and Wellness space. (Image Courtesy: livemint.com)
Net worth (as on May 24, 2016): $1.77 Billion (Info Source: Forbes)
Retail Business: Pepsico’ Biggest Bottler
Varun Beverages Ltd, the second largest PepsiCo. Inc. bottler in the world is the flagship firm of Delhi-based billionaire Ravi Jaipuria. Varun Beverages is a distributor of PepsiCo. products in north and east India and the largest bottler for the US-based beverage maker in South Asia, with operations in India, Nepal and Sri Lanka. Globally, it’s the second largest bottler of PepsiCo. beverages, behind only Tingyi Holdings Corp. of China. (Image Courtesy: livemint.com)
RADHE SHYAM AGGARWAL
Net worth (as on May 24, 2016): $1.33 Billion (Info Source: Forbes)
Retail Business: Emami
Radhe Shyam Agarwal is co-founder and executive chairman of Emami, a global group of company engaged in the business of FMCG, paper, real estate, edible oils, health care and cement. In 1974 Radhe along with his school friend Radhe Shyam Goenka started a cosmetics company Emami. The company was started with a capital of $2600 borrowed from Radhe Shayam Goenka’s father. Emami is now a multiple business global group of companies with a revenue of above $1.3 billion.