عربي English Türkçe اردو فارسى
Logo
Latest News
Fashion

Mango Fashion Tycoon Andic Dies in Mountain Accident

Pedestrians walk by the entrance of a Mango shop on Passeig de Gracia street in Barcelona on February 28, 2024. (AFP)
Pedestrians walk by the entrance of a Mango shop on Passeig de Gracia street in Barcelona on February 28, 2024. (AFP)
TT
TT

Mango Fashion Tycoon Andic Dies in Mountain Accident

Pedestrians walk by the entrance of a Mango shop on Passeig de Gracia street in Barcelona on February 28, 2024. (AFP)
Pedestrians walk by the entrance of a Mango shop on Passeig de Gracia street in Barcelona on February 28, 2024. (AFP)

Istanbul-born founder and owner of fashion empire Mango Isak Andic died on Saturday in a mountain accident, the company said. He was 71.

The businessman slipped and fell from a 150-meter cliff while hiking with relatives in the Montserrat caves near Barcelona, Spanish newspaper La Vanguardia said.

"His departure leaves a huge void but all of us are, in some way, his legacy and the testimony of his achievements. It is up to us ... to ensure that Mango continues to be the project that Isak was ambitious and proud of," Mango's CEO Toni Ruiz said in a statement.

Andic moved with his family to the northeastern Spanish region of Catalonia from Türkiye in the 1960s and founded Mango in 1984. He was worth $4.5 billion, according to Forbes. He was non-executive chairman of the company when he died.

He was seen as a rival to Amancio Ortega, the owner of Inditex, the world's largest fast-fashion retailer.

Mango had a turnover of 3.1 billion euros in 2023 with 33% of its business online and a presence in more than 120 markets.

Most Viewed

 
 
Fashion

Ralph Lauren Raises Annual Revenue Forecast on Resilient Demand

Models present creations from the Ralph Lauren Spring 2026 collection during New York Fashion Week in New York City, US, September 10, 2025. REUTERS/Angelina Katsanis
Models present creations from the Ralph Lauren Spring 2026 collection during New York Fashion Week in New York City, US, September 10, 2025. REUTERS/Angelina Katsanis
TT
TT

Ralph Lauren Raises Annual Revenue Forecast on Resilient Demand

Models present creations from the Ralph Lauren Spring 2026 collection during New York Fashion Week in New York City, US, September 10, 2025. REUTERS/Angelina Katsanis
Models present creations from the Ralph Lauren Spring 2026 collection during New York Fashion Week in New York City, US, September 10, 2025. REUTERS/Angelina Katsanis

Ralph Lauren raised its annual revenue forecast after beating quarterly estimates on Thursday due to resilient demand for its high-priced Polo shirts and cotton cable knit sweaters amid rising economic uncertainty.

The owner of several high-end apparel and accessory brands is seeing strong sales across its portfolio despite raising prices of select products, as it benefits from loyalty of its affluent customer base.

Ralph Lauren's investments, innovation and marketing efforts have also helped it win over younger shoppers, who are often hunting for fresh and trendy styles, Reuters reported.

The company now expects full-year revenue to increase 5% to 7% on a constant currency basis, compared with its prior forecast of a low- to mid-single-digit percentage growth.

The company posted quarterly revenue of $2.01 billion, compared with analysts' estimates of $1.89 billion, as per data compiled by LSEG.

Shares of the company were up about 1% in premarket trading.

Fashion

French Foreign Minister: EU Commission Must Sanction Shein

Costumers shops on the opening day of Asian e-commerce giant Shein's first physical store at the Bazar de l'Hotel de Ville (BHV) department store in Paris on November 5, 2025. (Photo by Dimitar DILKOFF / AFP)
Costumers shops on the opening day of Asian e-commerce giant Shein's first physical store at the Bazar de l'Hotel de Ville (BHV) department store in Paris on November 5, 2025. (Photo by Dimitar DILKOFF / AFP)
TT
TT

French Foreign Minister: EU Commission Must Sanction Shein

Costumers shops on the opening day of Asian e-commerce giant Shein's first physical store at the Bazar de l'Hotel de Ville (BHV) department store in Paris on November 5, 2025. (Photo by Dimitar DILKOFF / AFP)
Costumers shops on the opening day of Asian e-commerce giant Shein's first physical store at the Bazar de l'Hotel de Ville (BHV) department store in Paris on November 5, 2025. (Photo by Dimitar DILKOFF / AFP)

French Foreign Minister Jean-Noel Barrot on Thursday urged the European Commission to sanction online fast-fashion retailer Shein, which he said was in breach of the bloc's rules.

"I believe that the platform is clearly in breach of the European rules that we adopted in 2022 at France's instigation. I believe that the European Commission must take action. It cannot wait any longer," Barrot said in an interview with Franceinfo radio station.

China's Shein on Wednesday opened its first-ever permanent shop in the BHV department store in central Paris, but French Finance Minister Roland Lescure threatened a countrywide ban of the brand after a consumer watchdog spotted child-like sex dolls sold on its marketplace, Reuters reported.

Shein said it sanctioned the sellers of the dolls, implemented a worldwide ban on sex dolls on its site, and independently decided to temporarily suspend its marketplace in France to "review and strengthen" how third-party sellers operate on the site.

Fashion

Zalando Reports Higher Growth in Third Quarter, Bets on Sports

Zalando announced a five-year partnership with DFB, the German national football federation. Reuters
Zalando announced a five-year partnership with DFB, the German national football federation. Reuters
TT
TT

Zalando Reports Higher Growth in Third Quarter, Bets on Sports

Zalando announced a five-year partnership with DFB, the German national football federation. Reuters
Zalando announced a five-year partnership with DFB, the German national football federation. Reuters

Online fashion marketplace Zalando on Thursday reported a 21.6% rise in gross merchandise volume in the third quarter, mainly driven by the inclusion in the period of its newly acquired About You business.

It also announced a five-year partnership with DFB, the German national football federation, as it seeks to capitalize on the growing sportswear category.

Shares in the company were indicated up 6% in premarket trade.

Gross merchandise volume (GMV), a key revenue metric measuring the value of all goods sold, came in at 4.2 billion euros ($4.9 billion) in the quarter.

Assuming About You had been part of the group in the prior-year period, quarterly GMV increased by 6.7%, the company said.

Zalando has focused on higher-priced brands and the growing sportswear category, along with scaling up its partner business, as it faces competition from fast-fashion retailers with cheaper offerings such as Shein.

Quarterly revenue, which includes revenues from its logistics network offer and marketing services, rose 26.5% to 3 billion euros, surpassing analyst expectations of 2.9 billion euros according to LSEG data.

The company's earnings, however, were a touch below expectations, according to a local trader.

Adjusted earnings before interest and taxes (EBIT) in the quarter increased to 96 million euros from 93 million euros a year earlier.

Zalando said its logo would be featuring on all training and pre-match kits for DFB men's, women's, and youth teams. The partnership, which comes ahead of the football World Cup next year, included a wide range of marketing rights, it said.