Death of Mango chairman Isak AndicAlthough the fashion chain’s strategy is clear-cut, it raises many questions about the company’s future. Mango is headed by Toni Ruiz, who was appointed managing director in 2018 and CEO just two years later.
Andic controlled his businesses through a holding company called Punta Na, which included his three children: Jonathan Andic (1981), Judith Andic (1984), and Sarah Andic (1997). Of the three, Jonathan, 43, is the most involved in the company and is actually the one slated to take over. He served as deputy chairman for a while, but after an internal crisis in 2020, the group’s founder and chairman decided to fully professionalize management.
Thus, he gave all executive authority to Toni Ruiz, who assumed maximum responsibility within the company and entered the capital.. Isak Andic remains Chairman of the Board, which also includes Daniel López, Director of Expansion and Franchises, and Jonathan Andic, who becomes a Director. Man (men’s fashion series), Image and Communication.
Mango shareholder Toni Ruiz’s wish is to continue the same strategy. so far, but the question that arises is whether it can make it happen. After the death of Isak Andiç, who appointed him, because he no longer had a sufficient majority share. Its main support is results. In 2023, Mango achieved a record turnover of 3,104 million euros, an increase of 15% compared to 2022, doubling its net result to 172.1 million. These figures support The best moment in the company’s history and motivate bill forecasts for 2026, which they expect to exceed 4 billion euros.
A different strategy
Unlike other fashion giants, Mango still invests in the physical channel as the company that opens the most stores every year. While groups such as Inditex, H&M, Gap or Uniqlo close small businesses and open larger ones, the Catalan chain continues to open new stores every year. Thus, in the 2024-2026 Strategic Plan, it is planned to reach one million commercial square meters with the opening of more than 500 stores. turnover exceeded 4,000 million It will double its profits with an investment of 600 million euros. The company currently has 2,743 stores in more than 115 markets.
As recently confirmed by the CEO, Mango had planned thirty openings and fifteen renewals in Spain alone in 2024. In a meeting with the media in November, Toni Ruiz emphasized that “the bulk of the openings correspond to expansion.” “Youth branch of Mango Teen company”, With this campaign, it also aims to reach young people and keep up with the growth of Inditex chains Pull & Bear and Bershka, as well as online brands such as Shein.
four axes
The strategic plan is built on four pillars in every case: Upgrade, Expand, Win and Empower. First, it aims to enhance the brand’s value proposition by reinforcing its own style and commitment to quality across its five lines (Woman, Man, Children, Young And House), with high-end collaborations and collections with designers like Victoria Beckham or Italian tailoring house Boglioli premium to have as Capsule And Vote. With this approach, Mango increases the value of the brand with desire, quality and its own style designed in Barcelona. expand It represents international expansion ambitions with the opening of new sales points that will exceed 3,000 businesses worldwide by 2026. The USA stands out among its main marketsMango is set to have its own stores reach 40 by 2024, consolidating its growth in the market and focusing strongly on the development of physical stores.
pillar to ensure value creation To earn money It focuses on technological development and sustainability as a cross-axis. Mango was one of the first companies in Europe to have a website (opened in 1996) and opened its online store in 2000; this currently represents 33% of total sales. Mango has developed fifteen AI and machine learning platforms since 2018. which acts as an innovation engine in the online channel.
Strengthen It underlines the importance of human capital in growth. Mango employs more than 15,500 people worldwide and plans to create 5,000 new jobs between 2024 and 2026, including 1,000 in Spain, which will strengthen its impact on the economy. Mango is now looking to the future after the saddest day in its history with the death of its founder.
“His departure leaves a huge void but we are all witnesses in one way or another to his legacy and achievements. It is up to us and this is the best tribute we can and will pay to Isak. Group CEO Toni Ruiz said in a statement: “Mango desired and “To ensure that it continues to be the project he is proud of,” he said.
