Tragic news struck the fashion world as Isak Andic, the founder and owner of Mango, passed away at the age of 71 in a mountain accident. According to police reports, Andic slipped and fell over 100 meters from a cliff while hiking with relatives in the Montserrat caves near Barcelona.
“His departure leaves a huge void but all of us are, in some way, his legacy and the testimony of his achievements. It is up to us … to ensure that Mango continues to be the project that Isak was ambitious and proud of,” said Mango’s CEO, Toni Ruiz, in a statement mourning the loss.
Originally from Istanbul, Andic moved to Catalonia in the 1960s and founded Mango in 1984. With a net worth of $4.5 billion, he was a non-executive chairman of the company at the time of his passing.
Andic was known as a formidable competitor to Amancio Ortega, the owner of Inditex (BME:), the world’s largest fast-fashion retailer.
In 2023, Mango achieved a turnover of 3.1 billion euros, with 33% of its business conducted online and a presence in over 120 markets.
(This story has been refiled to fix the garble in paragraph 3)