Mango Names Toni Ruiz Board Chairman
MILAN — In a sign of continuity following the death of founder Isak Andic in December, Mango’s parent company Punto Fa S.L. has named Toni Ruiz as chairman of the board. Ruiz will maintain his responsibilities as chief executive officer.
Ruiz joined the company in 2015 as chief financial officer, was promoted to general manager in 2018 and to CEO in March 2020. He has been spearheading the growth of Mango, which in 2023 recorded a record turnover of more than 3.1 billion euros, up 15 percent on 2022.
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Last year, he set in motion the plan called 4E expected to drive the company’s sales to reach more than 4 billion euros in 2026 and double its profits. Mango sells menswear, womenswear, childrenswear and a home collection.
The company said it will get there by opening more than 500 new stores, and by elevating the brand’s value.
The Spanish fast-fashion retailer counts more than 15,500 employees, operates some 2,800 stores in more than 120 markets worldwide, boasts a major online activity and its international business accounts for nearly 80 percent of turnover.
“I am deeply grateful to the Andic family, the board of directors and the entire Mango team for trusting me to continue leading this exciting project,” Ruiz said. “Today, Mango is stronger than ever. We have a clear roadmap and great opportunities ahead of us. We want to keep growing and taking Mango to the top.”
The Barcelona-based company, which celebrated its 40th anniversary last year, in a statement credited Ruiz for “transforming Mango’s positioning by reinforcing its value proposition, embracing a unique style that is more aspirational and of greater quality, demonstrating a strong commitment to stores as a prime point of sale for customers (the company, unlike its competitors, is expanding its fleet by leaps and bounds), and working on the institutionalization of processes and governance.”
Isak Andic died on Dec. 14 at age 71 in a spelunking accident in a cave of the Montserrat mountain range in Catalunya, Spain, during an excursion with his family.
His son Jonathan, who holds the role of chief Mango Man officer, was appointed vice chairman of the Punto Fa and Mango board, confirming the commitment of the Andic family to the group.
Ruiz has a 5 percent stake in Punto Fa and Mango through Ionian Investments S.L.U., an operation first proposed by the founder. Mango MNG Holding S.A.U. retains the remaining 95 percent shares and its board appointed Jonathan Andic as chairman and his sisters Judith Andic and Sarah Andic as vice chairwomen.
Continuing Isak Andic’s initiative to professionalize Mango’s management, Manel Adell was named a new independent board member of Punto Fa. Adell has an extensive management career in multinational companies such as Bang & Olufsen, CadburyScheppes and Agrolimen, and he led Desigual’s expansion as CEO. He has also been an independent board member on several international companies including Puig, Charlotte Tilbury, AmerSports (Salomon, Atomic, Arc’teryx ) and Flying Tiger.
Last April, Mango unveiled a high-profile collaboration with Victoria Beckham, the latest in a series of projects between the Spanish high-street giant and international names including Italian tailor Boglioli, influencer Camille Charrière and Los Angeles brand Simon Miller.
Mango also sells in-house brands, higher-priced offers that include Selection, a fashion-forward collection that the retailer presents every season, and Capsule, which specializes in “event” dressing.
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