Mango founder, Isak Andic, is implementing changes within his real estate company, Punta Na, by establishing a board of directors. As the chief executive, Andic himself will lead the board, and his children, Jonathan, Judith, and Sarah Andic, will be serving as directors. This reorganization provides an opportunity for Judith and Sarah Andic to become involved in their family’s business, as they have not previously held positions within Mango’s management team.

Notably, Violeta Andic, Isak Andic’s niece who previously spearheaded the launch of the plus-size line, Violeta, is not included in the board. She had left the company in 2019, and subsequently, Mango discontinued the brand, incorporating its plus-size offerings into the main brand’s product selection.

Punta Na currently boasts a real estate portfolio worth approximately 1.2 billion euros, consisting of around 70 assets across Barcelona, Madrid, Paris, Austria, and the Czech Republic. However, the company experienced a decrease in revenue in 2020, recording 24.6 million euros compared to the previous year’s 41.5 million euros. This decline primarily resulted from the impact of the pandemic on rental income.

Similarly, Mango’s sales suffered a setback in the last fiscal year, contracting by 22.4% to 1.842 billion euros. Despite this, the company maintained strong online sales, which accounted for 42% of the company’s turnover at 766 million euros.

By establishing a board of directors, Andic aims to fortify the management of Punta Na and capitalize on opportunities within the real estate market. This strategic move aligns with the brand’s evolution over the years. With this new leadership structure, Punta Na is poised to navigate the challenges posed by the post-pandemic era and sustain its growth within the real estate sector.

Useful links:
1. Mango Official Website
2. Punta Na Official Website