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Owner of fashion tycoon Mango Isak Andic passes away at 71

Owner of fashion tycoon Mango Isak Andic passes away at 71

According to reliable sources, Isak Andic, owner and founder of the well-known fashion brand Mango, passed away on Saturday after a fatal accident on a mountain near Barcelona. The 71-year-old businessman, who founded the globally renowned fashion brand in 1984, slipped and fell over 100 meters while hiking with family members in the Montserrat caves, according to local police.

Toni Ruiz, Mango’s CEO, expressed deep sorrow in a statement:

His departure is an enormous gap but his impact remains clear in every street of Mango. It is our duty to continue his ambitious vision.”

Born in Istanbul, Andic moved to Catalonia with his family in the 1960s to build one of the largest, fashion empires. During the reign of Mango, the retail industry became a global retail behemoth with operations worldwide in excess of 120 countries. Learned to fight for supremacy against Inditex’s Amancio Ortega, Andic was an established pioneer in the fast-fashion world.

What was the net worth of the owner of Mango Isak Andic?

The owner of Mango Isak Andic has also played a significant role as a pioneer in e-commerce. By 2023 Mango had a turnover of €3.1 billion with 33% attributable to the online market. Forbes put his net worth at $4.5 billion and described his outsized impact in the field.

Before his death, Andic was serving as Mango’s non-executive chairman. His vision of how fashion can be combined with innovation and ability has been the compass of the company and of the retail industry in general.

Serving as the founder of Mango Isak Andic, his life’s work brought about a paradigm shift in the fast-fashion industry with which it would be unfeasible to break the legacy.

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