MILAN – Isak Andic, non-executive chairman and founder of Mango, died Saturday.
The Spanish retailer’s chief executive officer Toni Ruiz confirmed that the cause of death was an accident.
Andic was 71 years old.
According to media reports, Andic died falling almost 500 feet in a cave of the Montserrat mountain range near Barcelona, in Catalunya, Spain, during an excursion with his family.
Ruiz confirmed Andic’s death “with deep sorrow” in a letter, writing, “Isak has been an example to all of us. He dedicated his life to the Mango project, leaving an indelible mark through his strategic vision, inspiring leadership, and unwavering commitment to values that he himself instilled in our company. His legacy reflects the achievements of a business venture marked by success, as well as his humanity, approachability, and the care and affection he always showed to the entire organization.”
Andic founded Mango, which sells menswear, womenswear, kidswear and a home collection, in 1984. The first point of sale was located on Paseo de Gracia in Barcelona, Mango’s home town. In 1992, it started expanding outside Spain with the opening of two points of sale in Portugal.
“His passing leaves a huge void, but we all, in some way, are his legacy and the testimony of his accomplishments. It is our responsibility, and the best tribute we can pay to Isak, to ensure that Mango remains the project Isak envisioned and one he would be proud of. In these extremely difficult times, we share the family’s grief as our own,” concluded Ruiz.
Marta Ortega Perez, chair of Zara parent Inditex, said “This is such tragic news for all those who were lucky enough to know Isak Andic. It is also a huge loss for the Spanish business world and the global fashion sector – in both worlds his contribution has defined an era. Sending my deepest condolences to his family, friends and everyone who is part of the great company he created and which we at Inditex admire so much.”
On X, Spanish Prime Minister Pedro Sánchez praised Andic’s “great work and business vision, which transformed his Spanish brand in a global point of reference in fashion.”
Born in Istanbul, Turkey in 1953, Andic’s family reportedly emigrated to Barcelona in 1969.
Andic succeeded in building a giant international group that in 2023 reported a turnover of more than 3.1 billion euros, up 15 percent on 2022. Net profit more than doubled to 172 million euros. Earlier this year, Mango unveiled a new, two-year strategic plan called 4E.
The objective is to achieve sales in excess of 4 billion euros in 2026. The company said it will get there by opening more than 500 new stores, and by elevating the brand’s value.
The Spanish fast fashion currently has over 15,500 employees, it operates some 2,800 stores in more than 120 markets worldwide, has a major online activity, and the international business accounts for nearly 80 percent of turnover.
Last April, Mango unveiled a high profile collaboration, a collection of tailoring, slipdresses, knitwear and accessories designed with Victoria Beckham in a muted palette of summery “island” colors.
The Victoria Beckham x Mango collaboration, was the latest in a series of projects between the Spanish high street giant and international names including Italian tailor Boglioli, influencer Camille Charrière, and L.A. brand Simon Miller.
Mango also sells in-house brands, higher-priced offers that include Selection, a fashion-forward collection that the retailer presents every season, and Capsule, which specializes in “event” dressing.
In 2006, the company opened its design center, El Hangar, in Barcelona, where all collections are created and in 2008 launched its first menswear collection.
Throughout his career, Andic held positions such as member of the International Advisory Board of the IESE (IAB) Business School; vice-chairman of Banc Sabadell and member of the International Advisory Board of the Generalitat de Catalunya, the Investment Advisory Council for Turkey and the Friends of the Prado Museum Foundation. In addition, he was chairman of Family Business Institute, from 2010 until April 2012, and patron of the MACBA Foundation, the Princess of Asturias Foundation, the MuseuNacional d’Art de Catalunya (MNAC) and the Elena Barraquer Foundation.
Media-shy and reserved, Andic’s net worth amounted to $4.5 billion, according to Forbes.
With contributions from Samantha Conti, London.
