Billionaire founder of the popular fashion chain Mango, Isak Andic is dead.
Andic died in an accident on Saturday while exploring caves near Barcelona.
According to Spanish media reports; Andic fell down a 150-meter ravine while hiking in Montserrat mountains with his son and other family members. The incident triggered a massive emergency response, with a helicopter and specialized mountain unit dispatched to the scene.
Paying tribute to Andic, Mango CEO Toni Ruiz said in a statement: “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, and this is the best tribute we can make to Isak and which we will fulfil, to ensure that Mango continues to be the project that Isak aspired to and of which he would feel proud.”
Spanish Prime Minister Pedro Sanchez confirmed Andic died in an accident at Salnitre de Collbató caves.
He added, “All my love and recognition for your great work and business vision, which has turned this Spanish firm into a world leader in fashion.”
The president of Catalonia’s government, Salvador Illa Roca said he was “dismayed by the loss” and described Andic as a “committed businessman” who contributed to making Catalonia great and projecting it to the world.
The 71-year-old Turkish-born businessman co-founded Mango with his brother, Nahman, in Barcelona in 1984. The company has since grown into a global fashion powerhouse with nearly 3,000 outlets in 120 countries. Forbes estimated Andic’s net worth to be $4.5bn (£3.6bn).
He was a non-executive chairman of the company when he died. Mango had a turnover of €3.1bn (£2.6bn) in 2023.
The brand’s popularity in the UK was boosted in 2011 when British model Kate Moss was announced as the face of Mango.
