MILAN – Isak Andic, non-executive chairman and founding father of Mango, died Saturday.
The Spanish retailer’s chief government officer Toni Ruiz confirmed that the reason for demise was an accident.
Andic was 71 years previous.
In keeping with media stories, Andic died falling nearly 500 toes in a cave of the Montserrat mountain vary close to Barcelona, in Catalunya, Spain, throughout an tour along with his household.
Ruiz confirmed Andic’s demise “with deep sorrow” in a letter, writing, “Isak has been an instance to all of us. He devoted his life to the Mango venture, leaving an indelible mark by way of his strategic imaginative and prescient, inspiring management, and unwavering dedication to values that he himself instilled in our firm. His legacy displays the achievements of a enterprise enterprise marked by success, in addition to his humanity, approachability, and the care and affection he all the time confirmed to your entire group.”
Andic based Mango, which sells menswear, womenswear, kidswear and a house assortment, in 1984. The primary level of sale was situated on Paseo de Gracia in Barcelona, Mango’s house city. In 1992, it began increasing exterior Spain with the opening of two factors of sale in Portugal.
“His passing leaves an enormous void, however all of us, indirectly, are his legacy and the testimony of his accomplishments. It’s our duty, and the most effective tribute we will pay to Isak, to make sure that Mango stays the venture Isak envisioned and one he can be pleased with. In these extraordinarily troublesome occasions, we share the household’s grief as our personal,” concluded Ruiz.
Marta Ortega Perez, chair of Zara guardian Inditex, stated “That is such tragic information for all those that have been fortunate sufficient to know Isak Andic. It’s also an enormous loss for the Spanish enterprise world and the worldwide trend sector – in each worlds his contribution has outlined an period. Sending my deepest condolences to his household, associates and everybody who’s a part of the good firm he created and which we at Inditex admire a lot.”
On X, Spanish Prime Minister Pedro Sánchez praised Andic’s “nice work and enterprise imaginative and prescient, which reworked his Spanish model in a world level of reference in trend.”
Born in Istanbul, Turkey in 1953, Andic’s household reportedly emigrated to Barcelona in 1969.
Andic succeeded in constructing an enormous worldwide group that in 2023 reported a turnover of greater than 3.1 billion euros, up 15 p.c on 2022. Internet revenue greater than doubled to 172 million euros. Earlier this 12 months, Mango unveiled a brand new, two-year strategic plan referred to as 4E.
The target is to realize gross sales in extra of 4 billion euros in 2026. The corporate stated it can get there by opening greater than 500 new shops, and by elevating the model’s worth.
The Spanish quick trend at present has over 15,500 workers, it operates some 2,800 shops in additional than 120 markets worldwide, has a serious on-line exercise, and the worldwide enterprise accounts for almost 80 p.c of turnover.
Final April, Mango unveiled a excessive profile collaboration, a set of tailoring, slipdresses, knitwear and equipment designed with Victoria Beckham in a muted palette of summery “island” colours.
The Victoria Beckham x Mango collaboration, was the newest in a collection of initiatives between the Spanish excessive road big and worldwide names together with Italian tailor Boglioli, influencer Camille Charrière, and L.A. model Simon Miller.
Mango additionally sells in-house manufacturers, higher-priced provides that embrace Choice, a fashion-forward assortment that the retailer presents each season, and Capsule, which makes a speciality of “occasion” dressing.
In 2006, the corporate opened its design heart, El Hangar, in Barcelona, the place all collections are created and in 2008 launched its first menswear assortment.
All through his profession, Andic held positions reminiscent of member of the Worldwide Advisory Board of the IESE (IAB) Enterprise Faculty; vice-chairman of Banc Sabadell and member of the Worldwide Advisory Board of the Generalitat de Catalunya, the Funding Advisory Council for Turkey and the Pals of the Prado Museum Basis. As well as, he was chairman of Household Enterprise Institute, from 2010 till April 2012, and patron of the MACBA Basis, the Princess of Asturias Basis, the MuseuNacional d’Artwork de Catalunya (MNAC) and the Elena Barraquer Basis.
Media-shy and reserved, Andic’s web value amounted to $4.5 billion, in keeping with Forbes.
With contributions from Samantha Conti, London.