Isak Andic is a Spanish self made billionaire who along with his brother Nahman started the fashion brand Mango, the popular women’s retail clothing in 1984. Mango now has over 2600 stores in 107 countries of which 65% of its stores are franchises. Mango’s immense growth has seen it generate 82% sales outside Spain. However in 2011, the group experienced profit drops despite opening 800 “corner” stores including 500 in JC Penneys.
Thus Mango was not only compelled to reduce prices, but also to introduce new changes. Born to a Turkish Jewish family, Andic and his family moved to Spain in the 1960s. Andic started his career by selling embroidered t-shirts and later expanded his business by stocking different brands. According to the latest Forbes count, Isak Andic has a net worth of $5 billion, and he is the 4th wealthiest person from Spain.
Apart from Mango, Andic also owns 3.5% shares in Banco Sabadell, one of Spain largest financial institution. Isak has over the years avoided publicity, but he has recently made public appearances. He has three children, two of whom work at Mango. His son Jonathan is due to succeed him as the next boss. Despite having hectic schedules, Andic loves sailing on his yatch called Nivarna.