Isak Andic, founder of the renowned Spanish fast fashion brand Mango, died on Saturday, December 14. Andic died after tragically falling off a cliff in Spain. Andic was trekking in Barcelona's Montserrat caves when he slipped and plunged to his death on a 150-metre, or about 492-foot cliff in the Catalan capital.
Isak Andic Dies
He was with his relatives at the time of his death. After it was reported, a helicopter and a specialised unit were quickly dispatched to the scene.
Mango is one of the biggest names in the world of fast fashion, competing alongside the likes of H&M, and its own Spanish counterpart, Zara.
Toni Ruiz, Mango's CEO said: “It is with deep regret that we announce the unexpected death of Isak Andic, our non-executive chairman and founder of Mango, in an accident that occurred this Saturday."
Origins Of Mango
Mango was founded by Isak Andic along with his brother Nahman Andic.
Andic and their family were Shepdaric Jews, who immigrated from Turkey to a Spanish-speaking country.
The Fast Fashion World
Globally, the fast fashion brand is estimated to be worth around USD 136 billion. In addition, the industry is expected to only grow further. In fact, by 2027, the global fast fashion industry is expected to reach the figure of USD 185 billion.
Andic's Mango, on its own garnered revenues worth more than USD 3 billion annually. Two of the biggest brands in the sector are the aforementioned Zara and H&M, which dominate the market.
This duopoly, however was obliterated when China's Shein entered the market. The Chinese ultra-fast fashion company, as it is often called, currently holds a major chunk of the market.
Other markets in the game include the likes of Forever 21 and Fashion Nova.
As far as the Spanish giant, Mango's presence in India is concerned, the company runs its stores in association with fashion e-com brand Myntra. In association with Myntra, Mango has over 110 stores in Indian cities. Myntra itself is owned by Flipkart, which in turn is owned by American retail giant, Walmart.
