Businessmen worth combined total of £415 million listed in top 51 wealthiest …

Nadir Lalani, Daventry-based founder and chief executive officer of discount retailer 99p Stores

Two entrepreneurs with Northampton-based businesses and with a combined net worth of £415 million have featured in the list of the 51 wealthiest Asians in the Midlands.

The report, released later on Friday, shows Anil Aggarwal, of Barkers Shoes, and Nadir Lalani, of 99p Stores, both perform strongly.

A spokeswoman for the report said Mr Aggarwal had a net worth of £370 million.

“Low-key and barely known outside some circles, Anil Aggarwal cuts an intriguing figure. His acquisition of Barker Shoes put him on the map in the UK.

“Taken over by Agarwal and his international business group, the core of the business remains essentially the same.

“Aggarwal made his money from outsourcing and was one of its pioneers in India and iEnergizer remains one of the biggest names in the sector.”

Meanwhile Nadir Lalani, owner of the 99p Stores which has its headquarters in Northampton, is worth an estimated £45m.

“Nadir Lalani came to the UK in 1973 from Tanzania, having owned a cash and carry store in Mwanza. After moving to the UK he built up and sold two convenience store chains including buying Whistlestop Discount Stores, a 27-strong chain which he sold in 2005.

“He then focused on discount retailing, with the intention of handing the business over to his two sons Hussein and Faisal, who also work for the company.

“Lalani was inspired to start 99p Stores after stumbling upon a bustling Poundland shop whilst wandering around a shopping centre. His first 99p Store opened in Holloway, north London on 18 January 2001, with over 3,500 customers visiting the store in the first day of trading. By 2009, the company was offering more than 3,500 different product lines throughout its stores.

“It now has 251 shops, which trade as 99p Stores and Family Bargains and serve more than two million customers.

“The group became headquartered in a 370,000 sq ft warehouse in Northampton. It has 3,000 employees, with stores reaching St Albans and Guildford. The company reinvented discount shopping, stocking a range of branded products, often cheaper than elsewhere. Empty units were quickly filled with the bargain brand offering toiletries, dairy products and gardening tools.”