Farewell to Isak Andic, the generous entrepreneur who put his trust in IESE

The business world has lost one of its great entrepreneurs. And IESE has lost a great friend and supporter.

Last Saturday, Isak Andic, founder of Mango, left us at the age of 71 in a tragic accident. An entrepreneur and self-made businessman, Isak was closely linked to IESE and accompanied us in numerous institutional, research and entrepreneurship projects.

For 18 years (2006-2024), he was a member of IESE's International Advisory Board, where he contributed his advice and strategic vision. Those who shared this forum with him highlight his ability to simplify complex issues, his generosity and his passion for innovation.

An innovator with a long-term vision

Andic came from humble origins, selling clothes and shoes at flea markets at the age of seventeen. He later opened several denim stores and made inroads into seasonal fashion. He launched the first Mango store in 1984.

Over the last 40 years - the anniversary of which he celebrated on November 7 at IESE’s Barcelona campus - Mango has become one of the world's leading fashion companies, with a physical presence on five continents. In fact, Andic leaves the company at an all-time high with a turnover of 3.1 billion euros, 15,500 employees and 2,700 stores in 120 countries.

According to IESE professor Jordi Canals, a personal friend of Andic's, a member of the Mango board and author of a recent case study on the company, “Isak leaves behind a magnificent legacy, not only with a first-class international company, but also with values oriented to the long term, to customers, to collaborators and to his positive impact on society.”

Giving back to society

“Isak was very grateful,” explains Professor Canals. “He had a transcendent vision and often thanked God for the many gifts he had received. He was grateful to people, helping them to grow and develop. One of the things he was most proud of was the thousands of jobs created in Spain and around the world, and the families who lived from them. He wanted to give back to society everything he had received.”

In this regard, Andic collaborated with numerous business organizations and educational and cultural institutions. In addition to IESE's International Advisory Board, he was president of the Instituto de Empresa Familiar from 2010 to April 2012, a member of the Friends of the Prado Museum Foundation, a trustee of the Princess of Asturias Foundation, the Museu Nacional d'Art de Catalunya (MNAC), the Elena Barraquer Foundation and the MACBA Foundation.

His talent as a businessman, together with this social commitment, earned him the 8^th Kingdom of Spain Entrepreneurial Career Award, organized by the Círculo de Empresarios, the Cercle d'Economia and the Círculo de Empresarios Vascos and granted by King Felipe VI at an event on March 19 at IESE Business School.

Generosity with IESE

Over the years, Isak Andic has made numerous contributions and has participated regularly in IESE's institutional events including:

• Serving as a member of the International Advisory Board since 2006
• Creating the fashion startup accelerator Mango Startup Studio together with IESE in April 2022
• Supporting the Center for Corporate Governance as a sponsor
• Mango participating as a founding member of the Institute for Sustainability Leadership (ISL), launched in October 2023
• Supporting the expansion of IESE campuses in Barcelona, Madrid and New York. In New York, the Mango Classroom was inaugurated in November 2024
• Speaking at Global Alumni Reunion sessions, the Corporate Governance Conference and several program sessions

In the words of IESE Dean Franz Heukamp, “Isak Andic will be remembered not only for his extraordinary contribution to the field of fashion and entrepreneurship, but also for his generosity and commitment to the education of business leaders and for his affection for IESE. His support for IESE has left an indelible mark on our institution and reflects an exceptional commitment that will live on in his legacy. His leadership, human and focused on developing and empowering people and teams, is an example that will continue to inspire us.”

The IESE community shares in the grief of family and friends and all Mango employees and our prayers are with him.