Isak Andic: even richer since he separated his family from the management of Mango

• The richest The fortune of Isak Andic

• Companies Isak and Jonathan Andic.

  The father 'to the rescue' of the son at the head of Mango

This Thursday, Isak Andic (69 years old)

at his

in Barcelona.

His beloved company, Mango, presented magnificent results for the 2021 financial year:

, triple the 21 million obtained in 2019 and an EBITDA (profits without subtracting interest and taxes) that reaches 423 million compared to 193 million in 2020, the highest since 2014. With these figures, the thing was to toast (

, with good cava).

The chinchín considered the terrifying year of covid over and confirmed that the company is finally cleaning up its accounts after a few years paying for the broken dishes of certain unwise decisions made in the past.

For the directors of Mango, one of the largest groups in Europe in the fashion industry whose

, these positive results represent the culmination of a transformation plan launched in 2016 A successful plan for the clan, but curiously opposed to the one being carried out by Amancio Ortega at Inditex.

The Andics have put the management of their business in the hands of a team of experts and have removed family members from executive duties.

However, the great Galician company, for its part, will make effective in April the appointment of Marta Ortega, youngest daughter of the tycoon, as president (not executive, but with much to say).

Which will confirm her father's bet: leave Inditex in the hands of the youngest and her brothers-in-law.

Marta is not the only one who rules in Arteixo

.

The brothers of his second wife, Flora Pérez Marcote, also do it, a lot and with skill: Óscar (general manager of Zara who has another brother-in-law under his command, Carlos Mato, husband of María Luisa Pérez Marcote) and Jorge (general manager by Massimo Dutti).

Toni Ruiz, CEO of Mango. MANGO

Well, the reality is that Mango has been into film things since Isak Andic entrusted his company to a team led by Toni Ruiz, the current CEO of Mango.

There was a time when

, but they tried their luck and it didn't work.

From 2013 to 2016, just at the end of the great financial crisis, the heir led the company with executive Daniel López, but sales were not as expected.

Mango changed its strategy and lowered its prices, wanting to stand out in the

niche , but that did not go well.

Isak Andic decided to return and

, who was already retired but had to return temporarily to lend a hand.

At that time, their daughters were also in the company: Judith and Violeta, who worked in the design departments, for Women and Violeta (large sizes).

the non-heir

Five years have passed and today the girls are not on the payroll and neither is Nahman.

Only

and the interior design and

area, persists .

Currently, Isak Andic's eldest son is immersed in the upcoming opening of the Mango store on Fifth Avenue.

Jonathan Andic is now the director of Mango Man.MANGO

Mango's change of course for the better began in 2017. The Andic brothers, founders of the brand of Turkish origin, began a process of professionalizing their management structure that is now bearing fruit.

Isak is still the majority owner of the company but today, although he is president of the company, he does not have executive duties.

What he did that year with great success was

, who then joined the company as financial director.

An economist by training with a master's degree from IESE, Ruiz came from Leroy Merlin (where he continues to be an advisor, as at Alcampo) and has extensive knowledge of the retail business (points of sale).

The chosen one knew how to form a great team that continues to add data like these: negative net debt of eight million euros, growth in turnover of 21.3% reaching 2,234 million euros;

after growing 23% and reaching 942 million;

and 226 net openings, reaching 2,447 stores in more than 110 markets.

In addition, Mango increased its investments by 64%, to 45 million euros, mainly focused on digitization and the store network.

The team

All this thanks to people like Elena Carasso, director of online;

Luis Casacuberta, business director of Mango Woman, Kids and Home;

David Payeras, HR Director;

Daniel López, director of expansion and franchises;

Jordi Álex, director of information systems and technology;

Antonio Pascual, director of logistics;

Margarita Salvans, Financial Director, and César de Vicente, Global

Director .

A team that was later joined by Pilar Riaño, former director of the

digital newspaper , specialized in the sector, as communication director, together with Ignacio Hoyos, client director, and Josep Estol, director of Man reporting to Jonathan.

Isak Andic thus leaves the future of his company and his fortune, estimated at around 845 million, number 65 in Spain, well tied.

That is why he can now dedicate more time to

.

Perhaps he will go around the world again on his sailboat, the

, until recently the largest private boat registered in Spain with 53 meters long and 11 meters wide.

Andic bought it in 2008 for 30 million euros and a large part of the country's jet set has sunbathed on its deck, especially its intimates Jaime de Marichalar and Esteban Rabat, owner of the jewelry stores.

It is common to see the ship moored in the Mediterranean, in fact one of its favorite routes is through the Greek islands.

View this post on Instagram

Only his son Jonathan will remain in the company.

His other two daughters, Judith and Sara, will remain outside.

Of course, the three are well within the tycoon's inheritance.

This January, the last important financial movement of Isak Andic was made public.

, created a board of directors made up of Isak and his three children.

Punta Na has a real estate portfolio of some

.

These assets are distributed in Spain, France, Austria and the Czech Republic and control, among others, the building at number 36 Paseo de Gracia, in Barcelona, ​​occupied by the Hotel Mandarin Oriental;

number 60 Calle Serrano in Madrid, where the Mango

and its offices in the city are located, and an asset in the Paris Opera district.

The company, according to

, reduced its turnover in 2020, due to the covid, by 38% and ended the year with red numbers of 1.4 million.

However, it obtained a positive gross operating result of 20.4 million.

Currently, Punta Na "faces the path of profitability," its managers have said.

Without a doubt, there is and will be money for everyone.

dropdown

From Claudia Schiffer to Antoine Griezmann

Mango is attached to the needs of the consumer and the citizen of the world in general.

It has closed its outlets in Russia due to the war with Ukraine and is always up to date on the fashion market.

Its manufacturing and distribution system is increasingly sustainable, it takes care of its employees but above all the customer, and the design of its points of sale is completely cutting edge.

Great talents have worked in their campaigns in front of and behind the camera.

From the renowned models Claudia Schiffer, Naomi Campbell and Christy Turlington in the 90s to Kate Moss and Cara Delevingne, actresses such as Penélope Cruz and Scarlett Johansson, and great athletes such as Gerard Piqué, Zinedine Zidane or Antoine Griezmann (the latest signing), they have always opted for recognized profiles.

He has also collaborated with photography geniuses,

Conforms to The Trust Project criteria

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