Isak Andic
Isak Andic Ermay | |
|---|---|
| Born | Template:Birth date Istanbul, Turkey |
| Died | December 14, 2024 (aged 71) Salnitre caves, Collbató, near Barcelona, Spain |
| Occupation | Entrepreneur |
| Years active | 1972–2024 |
| Known for | Co-founder and principal shareholder of Mango |
Isak Andic Ermay (; 1 October 1953 – 14 December 2024) was a prominent Turkish-Spanish entrepreneur. In 1984, together with his brother Nahman, he established the clothing retailer Mango. As the principal shareholder of Mango, Andic's net worth was estimated at US$4.5 billion at the time of his passing, positioning him as the wealthiest individual in Catalonia and among Spain’s richest. Holding Turkish citizenship, he ranked as the second wealthiest person in Turkey after Murat Ülker.
Early life and career
Born into a Sephardic Jewish family in Istanbul, Turkey on 1 October 1953, Andic relocated with his family to Barcelona, Spain in 1969. There, he and his brother Nahman started by marketing hand-embroidered T-shirts and clogs produced in Turkey. They established retail outlets in Barcelona and Madrid, initially offering their own label (Isak Jeans) before expanding to include other brands. In 1984, Andic teamed up with entrepreneur Enric Cusí and his brother to consolidate all stores under the brand name Mango. The brand name "Mango" was inspired by a fruit Andic encountered during a trip to the Philippines.
Business career
Isak Andic co-founded Mango, a Spanish fashion group where he held the majority stake. By 2012, Mango operated across 109 countries with more than 2,500 stores and generated annual revenues exceeding €2 billion. The company directly employed approximately 11,000 people, with women representing 83% of the workforce. Unlike competitor Inditex, Mango’s business model relied predominantly on franchise operations; at that time, only 13% of Inditex’s outlets were franchised. Both firms made substantial investments in premium retail locations on renowned shopping avenues worldwide.
By 2010, Andic ranked as Spain’s second wealthiest individual before being overtaken by entrepreneurs such as Juan Roig Alfonso. Forbes placed him at number 221 on its list of the world’s richest people in 2011, estimating his fortune at $4.8 billion.
In addition to his role as Mango’s executive chairman, Andic held various leadership positions including Vice Chairman of Banco Sabadell until September 2013, membership on IESE’s International Advisory Board, participation in the Catalan Government’s International Advisory Board, and involvement with Turkey’s Investment Advisory Council. Between 2010 and 2012, he served as chairman of Spain’s Family Business Institute and acted as trustee for both the Princess of Asturias and Princess of Girona Foundations.
Founding of Mango
After arriving in Barcelona in 1968, Andic ventured into fashion in 1972 by selling hand-embroidered blouses imported from Turkey. He launched his first retail outlet within Barcelona’s Balmes market in 1973 and operated several multi-brand wholesale shops under the name Izak before shifting focus toward creating a unified global brand.
In 1984, at age 28, Andic collaborated with entrepreneur Enric Casi and his brother Nahman to inaugurate Mango’s inaugural store on Barcelona’s upscale Paseo de Gracia. The name "Mango" was selected following trademark refusals and drew inspiration from a fruit sampled during a trip to Thailand.
By 1994, the Andic brothers had grown their presence to 100 stores within Spain and began international expansion under Casi’s leadership as general manager for two decades.
In 2006, Andic joined the board of Banco Sabadell and by 2012 had become its largest shareholder owning a 7% stake.
As of November 2023, Forbes valued Andic's fortune at €2.7 billion, designating him as Catalonia's wealthiest individual. In 2010, he was ranked as the world’s 32nd richest person of Jewish heritage.
Andic was regarded as a business competitor to Amancio Ortega, founder of Zara.
Personal life
Andic was previously married to Neus Raig Tarragó, with whom he had three children: Jonathan Andic (born 1981), who was appointed his successor in 2012; Judith Andic (born 1984), also employed by Mango; and Sarah Andic (born 1997). Additionally, he had a relationship with Catalan fashion stylist Zenaida Bufill Comadrán. He resided in Barcelona.
He was a member of the International Advisory Board (IAB) at IESE.
On 14 December 2024, Andic tragically passed away due to an accident in the Salnitre caves of Collbató, near Barcelona. Authorities reported that he fell around 150 meters in a remote and challenging location. His family, including his son, was present at the scene. Mango CEO Toni Ruiz described Andic’s death as leaving "a huge void," while Catalonia’s president Salvador Illa Roca acknowledged his role in enhancing Catalonia’s international reputation.
As the principal shareholder of Mango, Andic's wealth was estimated at US$4.5 billion at the time of his passing, positioning him as Catalonia’s wealthiest individual and one of Spain’s richest.
A representative from the Federation of Jewish Communities of Spain highlighted Andic’s meaningful contributions to Spanish Judaism and recognized him as a prominent and active figure within the Jewish communities of both Barcelona and Spain.
Awards
In 2024, Andic was honored with the Kingdom of Spain Entrepreneurial Career Award.