Brands
Mango Turkish-origin billionaire founder Isak Andic dies following hiking accident
MUMBAI: The Mango high street fashion brand has lost its founder Isak Andic. The 71 year old Turkish-born entrepreneur, who was an avid mountaineer and hiker, passed on over the weekend (Saturday) doing what he loved dong the most exploring mountains.
According to reports in the Spanish media, he was on a family outing in the Montserrat mountains around 40 km northwest of Barcelona when he slipped in the Collbató saltpetre caves at midday and fell around 150 meters to his death.
Andic was born in Istanbul in 1953 and his family moved to Spain in 1969. His fascination with the denim fabric led him to create a brand Isak Jeans in the early eighties. He opened several stories in Barcelona and Madrid. They were then renamed as Mango in 1984 and grew the enterprise along with his brother Nahman.
Today, Mango has consolidated its position as one of the leading international fashion groups, with a major presence in more than 120 markets, close to 2,800 stores and 15,500 employees worldwide. The company aims to exceed 2,800 stores by the end of 2024 and to reach more than 3,000 stores worldwide by 2026. This growth will enable it to exceed one million square metres of retail space, highlighting markets such as Spain, France, Italy, Germany, the United Kingdom, Poland, India, Canada and the United States. Mango has just a single brand and it does not own any factory, outsourcing its production mainly to lower-cost Turkey and Asia.
It registered a turnover of 3.1 billion euros in 2023 growing more than 15 per cent over 2022. Almost 80 per cent of its sales are now generated outside of Spain. Forbes estimated Andic’s net worth to be $4.5 billion (£3.6 billion). He was the non-executive chairman of the group at the time of his passing.
Paying tribute to Andic, Mango group CEO Toni Ruiz said: “Isak has been an example for all of us. He dedicated his life to Mango, leaving an indelible mark thanks to his strategic vision, his inspiring leadership and his unwavering commitment to values that he himself imbued in our company. His legacy reflects the achievements of a business project marked by success, and also by his human quality, his proximity and the care and affection that he always had and at all times conveyed to the entire organization. His departure leaves a huge void but all of us are, in some way, his legacy and the testimony of his achievements.”
Brands
IndiGo names William Walsh CEO
Former IATA chief to take charge in August after Elbers exit, Bhatia steers interim
India’s biggest airline has moved fast and gone global. InterGlobe Aviation, which operates IndiGo, has tapped aviation heavyweight William Walsh as chief executive officer, subject to regulatory approvals, marking a sharp pivot as the carrier eyes its next burst of expansion.
Walsh, currently director general at the International Air Transport Association, will step down on July 31, 2026, and is expected to take charge by August 3. The appointment comes barely three weeks after Pieter Elbers exited the corner office, with Rahul Bhatia holding the fort in the interim.
The choice signals intent. Walsh brings decades of cockpit-to-boardroom experience, having led British Airways and later International Airlines Group, the parent of Aer Lingus, Iberia and Vueling. His tenure across carriers has been defined by hard resets, restructurings and cross-border consolidation—skills IndiGo may need as competition intensifies and scale becomes decisive.
Vikram Singh Mehta, chairman and non-executive independent director of IndiGo, said Walsh’s experience in managing large-scale airline operations and navigating complex market dynamics makes him well-suited to lead IndiGo in an increasingly competitive global aviation environment, adding that the appointment marks a new chapter as the airline scales in one of the world’s fastest-growing markets.
Rahul Bhatia said Walsh’s global perspective, operational expertise and customer-focused approach would be critical as IndiGo enters its next phase of expansion.
Walsh, widely regarded as one of the industry’s most influential figures, will oversee overall management and strategic direction, with a mandate spanning operational performance, network expansion, commercial strategy and customer experience. He is expected to work closely with the board and leadership team to sharpen IndiGo’s growth trajectory.
Walsh said IndiGo has a strong foundation and is well-positioned to capitalise on the evolving aviation landscape, adding that he looks forward to fostering a culture of excellence, innovation and sustainable value creation across the organisation.
A new captain, a bigger runway—and a market that rewards scale. IndiGo is lining up for its next take-off.
