Isak Andic (born 1953) is a Spanish businessman, the founder and largest shareholder in the clothing retail chain Mango.
Early life
Born to a Sephardic Jewish family in Istanbul, Andic’s family emigrated from Turkey to Barcelona, Spain in 1969 where he and his brother Nahman began selling hand-embroidered T-shirts and clogs. They opened shops in Barcelona and Madrid, first selling their own brand (Isak jeans) and then stocking other brands. In 1984, he joined with fellow entrepreneur Enric Cusí and his brother and re-denominated all their stores under the name Mango. Andic chose the name “Mango” after tasting the fruit on a trip to the Philippines and for the fact that the word is pronounced the same in every language.
In 2006, Andic was appointed the director of Banco Sabadell and in 2012, he became its single largest shareholder with a 7% ownership interest. According to Forbes, Andic has a net worth of $4.8 billion, as of January 2015. Mango has 2,400 stores in 107 countries.
Personal life
Andic is divorced from Neus Raig Tarragó with whom he has three children:[2][6] Jonathan Andic (born 1981) who was named his successor in 2012; Judith Andic (born 1984), who also works for Mango; and Sarah Andic (born 1997). Andic lives in Barcelona.
| Isak Andic | |
|---|---|
|
Isak Andic, Helena Rakosnik and Artur Mas (2010)
|
|
| Born | 1953/1954 (age 63–64) Istanbul, Turkey |
| Residence | Barcelona, Spain |
| Nationality | Spanish |
| Occupation | Founder and largest shareholder, Mango |
| Net worth | $3.5 billion (March 2016) |
| Spouse(s) | Neus Raig Tarragó (divorced) |
| Children | Jonathan Andic Judith Andic Sarah Andic |
| Relatives | Nahman Andic (brother) |
Isak Andic net worth: Isak Andic is a Spanish entrepreneur who has a net worth of $5.8 billion. Isak Andic co-founded the clothing design and manufacturing company Mango back in 1984, along with his brother Nahman Andic. Since then, Mango has grown into a company that generates 82% of sales outside Spain and oversees about 2600 stores across 109 countries worldwide, from the Dutch Antilles to China. The group, which made its name for both producing and selling reasonably priced, trendy women’s apparel, has opened 800 “corner” stores within other retailers over the last few years. However, this didn’t stop the sales and profits drop, especially in 2011. Thus, Mango introduced some far-reaching changes including a 20% reduction in prices, a return to basic designs and shifting clothing production in-house. Today, Isak’s son and apparent heir supervises He by Mango, the retailer’s line for men, as well as he took over the position of Deputy President in 2012, just below his father on the company’s employment chart. What’s more, Kate Moss was recently replaced by Australian model Miranda Kerr as the face of the brand. In addition to Mango, Andic also owns shares in Banco Sabadell, one of Spain’s largest banking groups. The media-shy entrepreneur and his family moved to Spain from Turkey in the 1960s. Now, Isak Andic is one of the richest people in Spain who loves to spend his free time sailing on his yacht called the Nirvana.
Source: