Mango founder Isak Andic dies in mountain accident
Barney Jopson in Madrid
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Isak Andic, the Turkish-born creator and chairman of the Spanish clothing brand Mango, has passed away in an accident at the age of 71.
Andic, the founder of a Catalonia-based company over four decades ago and one of Spain's richest individuals, passed away on Saturday after falling off a cliff in the Catalan mountains, according to the company.
The billionaire, who held the position of non-executive chair at Mango, transformed the brand into a worldwide powerhouse, generating €3 billion in yearly revenue. This impressive achievement places it just behind Inditex, the parent company of Zara, in the Spanish fashion industry.
"Isak has been an inspiration to everyone," stated Toni Martinez, CEO of Mango. "His absence creates a significant gap, but in a sense, we embody his legacy and serve as a testament to his accomplishments."
Andic, the only owner of Mango, was ranked as the fifth wealthiest individual in Spain, boasting a fortune of €4.5 billion, as reported by Forbes.
He has two daughters and a son named Jonathan, who was the CEO for several years, starting in 2014. However, after facing significant losses, his father had to step back in and appoint someone else to lead the company. Jonathan is still a member of Mango’s board.
Isak Andic, who was originally from Istanbul, came to Catalonia in 1970 as a young immigrant. He started importing blouses from Turkey to provide a unique option for people living in Spain during the dictatorship.
He started by selling clothes as a wholesaler in Barcelona, then he began selling from the trunk of his car as he traveled around Spain, and eventually opened his first store. He officially named the company Mango in 1984.
The brand goes toe-to-toe with Zara and has gained a reputation for offering chic yet budget-friendly dresses, tops, and coats. However, it distances itself from the "fast fashion" label and has been working to elevate its market position.
Andic was the brains behind the company's global growth. Today, 77 percent of its revenue comes from outside of Spain, and it operates around 2,700 stores across 120 countries.
Marta Ortega, the chair of Inditex and the daughter of its founder Amancio Ortega, expressed her sorrow over the news, stating, “This is incredibly sad news for everyone who had the privilege of knowing Isak Andic. His passing is a significant loss for the business community in Spain as well as the global fashion industry — his impact has shaped an entire era in both fields.”
