Affluent Entrepreneur behind Mango conglomerate, Isak Andic, Suffers Fatal Incident During Mountain Trekking Excursion
Millionaire creator of Spanish clothing retailer Mango, Isak Andic, suffered a fatal accident over the weekend during a hiking trip close to Barcelona. The 71-year-old unfortunate event unfolded when Andic tripped and plummeted from a 500-foot cliff while hiking with family members.
According to El País newspaper, emergency services were summoned to the site of the accident, situated in the Montserrat caves, around 1:00 pm local time. Andic's son was present at the scene of the tragic incident.
In a formal statement posted on their website, Mango's CEO Toni Ruiz shared his grief, stating: "With deep regret, we share the sad news of the unexpected demise of Isak Andic, our non-executive chairman and Mango's founder, in a Saturday accident.
"Andic has served as an unforgettable symbol. He devoted his life to Mango, leaving an indelible impression through his strategic vision, inspiring leadership, and unwavering dedication to the values that he instilled within our company.
"His absence leaves a vacancy but all of us serve as his legacy and a testament to his accomplishments. It is our duty, and the best homage we can pay to Andic, to ensure that Mango continues to thrive as the venture that Andic envisioned and that he would take pride in."
Mango's Rise in Power
Andic opened the initial Mango store in 1984, and by the time of his passing, his family's fortune was estimated to be $4.5 billion. Andic held the position of non-executive chairman at the firm.
Andic was born in Istanbul, Turkey, and emigrated to Spain together with his family at age 13 in the 1960s, settling in the Catalonia region. In Barcelona's American high school, he kickstarted his entrepreneurial journey by selling T-shirts to his peers. This venture led him to establish a wholesale business, selling clothing items in Barcelona's Balmes Street market, and eventually to open a store.
Mango saw an unprecedented surge in sales, reaching $3.39 billion in 2023. The company recently declared its plans to expand its U.S. presence, aiming to set up around 500 outlets globally by 2026. Online sales also witnessed a hike, reaching nearly $1.1 billion, marking a record high.
Mango accomplished its U.S. expansion goal before schedule last month and expressed its intention to exceed that target by year-end. With the addition of a store in El Paso, Texas, Mango has opened 40 retail establishments in the U.S., with two more set to open by the end of 2024, bringing the total to 42.
Mango's Expansion in the U.S.
Mango's Director of Expansion and Franchising, Daniel López, shared his satisfaction, stating, "Reaching 40 owned stores worldwide is a source of pride for the entire Mango team and underscores our dedication to the U.S. market, an essential component in our worldwide strategy."
In 2025, Mango seeks to expand its presence within the U.S., projected to open more than 20 new stores, totaling approximately 65. The company expects to boost its workforce in the U.S. to more than 1,200 personnel by 2025.
Mango's U.S. Growth
Mango will focus on expanding its footprint in the Sun Belt and northeast areas of the U.S., with additional stores in Washington, Illinois, and Nevada, including outlets in Bellevue Square shopping center, Michigan Ave, Chicago, and Fashion Show Las Vegas shopping center. Mango also intends to launch its first stores in Connecticut, Arizona, Ohio, Oregon, and Louisiana. The company will also strengthen its presence in California, with a focus on the San Francisco area, and Texas with a store in Houston Galleria.
Mango inaugurated a flagship store in Downtown Washington, D.C., in October.
All the new branches will incorporate Mango's Mediterranean-inspired New Med store concept, which portrays the Mango store as a Mediterranean-style home, yet against the somber backdrop of the recent loss of Isak Andic.
Despite the tragic accident that took the life of Mango's founder and non-executive chairman, Isak Andic, the company continues to thrive. Just recently, Mango surpassed its U.S. expansion goal of 40 stores, with plans to exceed that number by year-end.
This growth is a testament to Andic's vision and dedication, as he was the one who opened the initial Mango store in 1984 and later established a wholesale business in Barcelona's Balmes Street market. His entrepreneurial spirit and strategic vision have significantly contributed to Mango's rise in power.
