Glasgow glitters with 9 of 10 richest Asians
Asians Afzal and Akmal Khushi top the list of the 10 richest Asians of Scotland. Glasgow is home to nine of the 10 wealthiest names.india Updated: Dec 27, 2003 23:18 IST
Among Scotland's 10 richest Asians, nine are from Glasgow. Scotland's richest Asians are Afzal and Akmal Khushi, the clothing tycoons for the Trespass brand of sportswear, despite recording a 300 per cent drop in profits last year. Their wealth has been estimated at £49 million which is up from the £35m valuation on them last year.
The brothers own Jacobs & Turner, the Glasgow-based manufacturer which produces the Trespass range of snowboarding, surfing, and outdoor clothing. Last year, they drew an average salary of £1m each.
The Khushi family bought the company in 1966 and expanded its range from winter clothing to include sportswear, summer clothing, and skiwear. The Trespass name has since reached 50 countries worldwide, and has 12 retail outlets in the UK - including one at Braehead shopping centre, near Glasgow. In the overall list of Asian Xpress's richest Asians, the Khushis are placed 46th and 47th.
The second richest Asian Scot is Munawar Hayat, managing director of Sher Brothers, a cash-and-carry business, with family assets worth £27million. Last year, he topped the list with a fortune of £35million but the company has seen profits drop by 40 per cent after a fire in one of its warehouses in June. He is rated 57th in the UK list of wealthy Asians.
Among the other of the nine Glasgow - based richest Asians are Labour MP Mohammed Sarwar, Maq Rasul, the founder of the Global Video chain of stores, and Yaqub Ali, who owns a cash-and-carry operation called AA Brothers.
Charan Gill, who owns the Harlequin Leisure Group, which includes the Ashoka restaurants, with his family and is known as Glasgow's curry king, is ranked 48th on the UK list with a value of £13m. He told the media: "We were brought up to have a certain work ethic, be self-employed, and to be financially successful. That was preached to me by my grandfather, who encouraged my father to move here in 1963. The whole purpose of emigrating to another country is to improve your life financially. If you're not going to do that, you may as well stay where you are."
First Published: Dec 27, 2003 22:16 IST