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Isac Andic, founder of the famous Spanish fast fashion brand Mango, died on Saturday, December 14. Andic died tragically after falling off a cliff in Spain. Andic was trekking in the Montserrat caves in Barcelona when he slipped and fell to his death on a 150-metre, or about 492-foot, cliff in the Catalan capital.
Isak Andik passes away
He was with his relatives at the time of his death. After receiving information, a helicopter and a special unit were immediately sent to the spot.
Mango is one of the biggest names in the world of fast fashion, competing with the likes of H&M and its own Spanish counterpart, Zara.
Mango CEO Tony Ruiz said: “It is with deep regret that we announce the unexpected death of Isak Andik, our non-executive chairman and founder of Mango, in an accident that occurred this Saturday.”
Origin of Mango
Mango was founded by Isak Andik along with his brother Nahman Andik.
Andik and his family were Shepardic Jews who had immigrated to the Spanish-speaking country from Türkiye.
Fast Fashion World
Globally, fast fashion brands are valued at approximately US$136 billion. Furthermore, the industry is expected to grow further. In fact, the global fast fashion industry is expected to reach the US$185 billion mark by 2027.
Andix Mango generates revenues of over US$3 billion annually on its own. The two biggest brands in this sector are the aforementioned Zara and H&M, which dominate the market.
However, this monopoly ended when China's Sheen entered the market. The Chinese ultra-fast fashion company, as it is often called, currently holds a large share of the market.
Other markets in the game include Forever 21 and Fashion Nova.
As far as Spanish giant Mango's presence in India is concerned, the company runs its stores in collaboration with fashion e-com brand Myntra. In collaboration with Myntra, Mango has over 110 stores across Indian cities. Myntra is owned by Flipkart, which is owned by US retail giant Walmart.
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