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Isak Andic, founder of Mango, died in an accident near Barcelona at age 71.
Andic opened his first shop in 1984, growing the business to 2800 stores in over 120 markets.
He was one of Spain’s richest men, with a net worth of $4.5 billion.
Isak Andic, the founder of Spanish clothing retailer Mango, one of Europe’s largest fashion groups, with nearly 2800 stores worldwide, died on Saturday in an accident, the company said.
While the company did not provide further details, Spanish media reports said the 71-year-old died after falling while hiking with several members of his family near Barcelona.
The billionaire died after falling 150m down a ravine on a hiking trip, Telegraph reports.
“It is with deep regret that we announce the unexpected death of Isak Andic, our non-executive chairman and founder of Mango,” the Barcelona-based company’s CEO, Toni Ruiz, said in a statement.
Isak Andic with British model Kate Moss and Carolina Herrera at a fashion awards ceremony organised by Mango. Photo / Getty Images
“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.
Isak Andic was the founder of Spanish clothing retailer Mango, one of Europe’s largest fashion groups, with nearly 2800 stores worldwide. Photo / AFP
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.
It is with deep regret that we announce the unexpected death of Isak Andic, our non-executive Chairman and founder of Mango, in an accident that occurred this Saturday. Isak has been an example for all of us. He dedicated his life to Mango, leaving an indelible mark thanks to his… pic.twitter.com/lWoayEcXEh
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”.
Consternat per la pèrdua d’Isak Andic, empresari compromès que, amb el seu lideratge, ha contribuït a fer gran Catalunya i projectar-la al món. Deixa una empremta inesborrable en el sector de la moda catalana i global. El meu condol i el de tot el Govern a familiars, amics i a…
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.
