Billionaire founder of fashion giant dies after falling 150m into ravine
“Isak has been an example for all of us. He dedicated his life to Mango, leaving an indelible mark thanks to his strategic vision, his inspiring leadership and his unwavering commitment to values that he himself imbued in our company,” he added.
Born in 1953 in Istanbul, Andic moved to Barcelona in Spain’s wealthy northeastern Catalonia region with his family when he was 14.
He opened his first shop on the Paseo de Gracia, Barcelona’s famous shopping street, in 1984 with the help of his older brother Nahman. It was hugely successful.
Spain had just emerged from a decades-long dictatorship that ended with the death of General Francisco Franco in 1975, and consumers were hungry for more modern clothes.
“He saw that we needed colour, style,” the company’s global retail director, Cesar de Vicente, said in an interview with AFP in March 2024.
Andic quickly opened dozens of more stores in Spain and then abroad, starting in neighbouring Portugal and France, all under the name Mango.
The company has consolidated its position as one of the leading international fashion groups, with a major presence in more than 120 markets and 15,500 employees worldwide, according to its website. The company closed 2023 with a turnover of €3.1 billion.
Like its main domestic rival Inditex, the world’s biggest fashion retailer and owner of the popular Zara brand, Mango strives to quickly adjust its production to the latest fashion trends while offering affordable prices.
Mango has just a single brand and it does not own any factory, outsourcing its production mainly to lower-cost Turkey and Asia.
Andic “realised that having the same name, having the same brand in all the shops, would make the concept much stronger”, said De Vicente.
The media-shy entrepreneur was one of Spain’s richest men. Forbes estimates he and his family have a net worth of US$4.5b.
“His legacy reflects the achievements of a business project marked by success, and also by his human quality, his proximity and the care and affection that he always had and at all times conveyed to the entire organisation,” Ruiz said, adding “his departure leaves a huge void”.
The head of the regional government of Catalonia, Salvador Illa, hailed Andic as “a committed businessman who, with his leadership, has contributed to making Catalonia great and projecting it to the world.
“He leaves an indelible mark on the Catalan and global fashion sector,” he added in a post on social media platform X, offering his condolences.
– Agence France-Presse
