Spanish businessman Isak Andic Ermay tragically passed away on December 14, 2024. The news of his passing away was shared by his company, the clothing retailer Mango, which he founded in 1984. Andic was on a hiking trip when he accidentally slipped and fell off a 150-metre cliff.
He took the trip to Montserrat caves near Barcelona with his relatives when the accident happened. As per local media outlets, Andic’s son was also with him during that time. The police received a call at 1 PM, following which a helicopter and specialized mountain unit were sent to the location.
Tony Ruiz, Mango’s chief executive, released a statement announcing the sudden passing of Isak Andic. He praised Andic’s strategic vision, leadership, and commitment to Mango’s values, emphasizing his lasting legacy as a business leader and a person.
The statement highlighted his profound impact on the company and expressed a commitment to honoring his vision by ensuring Mango’s continued success. Ruiz extended heartfelt condolences to Andic’s family, acknowledging the immense loss felt across the organization.
Although Isak Andic was the company’s founder, he served as the non-executive chairman and had a net worth of $4.5 billion (£3.6bn) as per Forbes.
Born in Istanbul, the business tycoon migrated to Catalonia in the 1960s when he was 13. He married Neus Raig Tarragó during the 1970s with whom he had three children Jonathan Andic, Judith Andic, and Sarah Andic.
However, their marriage lasted for only two decades. Jonathan became the successor of Mango in 2012 while his other two children serve as members of the board of directors.
Exploring Isak Andic’s net worth and family amidst his sudden demise
In 2023, Mango achieved a turnover of €3.1 billion (£2.6 billion), gaining 33% of its revenue from online sales and operations across 120 countries. The brand was introduced to the UK market in 1999, but it expanded to over 60 branches nationwide. Isak Andic’s Mango has an impressive presence in over 120 markets with over 15,000 global employees.
As per Academia Lab, after his separation from Neus Raig Tarragó, he was reportedly involved with Cristina Valls-Taberner, Adriana Abascal, and Zenaida Bufill. His relationship with Zenaida Bufill began in 2005 but went through a crisis in 2015. However, the duo reportedly reconciled in 2016.
Mango also inspired sub-brands. For example, Jonathan Andic launched the men's clothing line ‘He’ by Mango in 2007. This helped expand the brand to incorporate styles and designs besides women’s fashion. Jonathan’s sister Judith plays a great role in the design, while their cousin Violeta Andic leads the curvy women’s clothing sub-brand, Violeta.
Isak Andic ranks tenth among the 100 richest men in Spain in 2023, as per Salir por Barcelona. The report also stated that his fortune was valued at 2.7 billion euros. Toni Ruiz acquired 5% of the shares, becoming the first non-family shareholder of the company.
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Mango, valued at 1.8 billion euros, had established itself as a global brand under its founder's leadership. Isak Andic controlled over 95% of the company’s capital through Punta Na Holding. Regarding the 2024-2026 Strategic Plan, the brand aimed to expand its store network and boost sales.
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