Isak Andic, the billionaire founder of fashion chain Mango, died in an accident on Saturday, according to the company. The 71-year-old fell into a ravine while hiking in a mountain range in Spain.
Isak Andic Photo: Getty Images
He was with his son and other family members on a hike in the Montserrat mountains when he fell into a 150-meter ravine, according to El Pais newspaper, quoted by the BBC.
His family called emergency services around 12:30 local time. A helicopter and an ambulance were sent, but they confirmed the death on arrival at the scene of the accident.
“CIt is with deep regret that we announce the unexpected death of Isak Andic, our non-executive chairman and founder of Mango“, said the general manager of the Barcelona-based company, Toni Ruiz, in a statement.
Mango CEO Toni Ruiz also said that: “His departure leaves a huge void, but we are all, in a way, his legacy and testimony to his achievements“.
The president of the government of Catalonia, Salvador Illa Roca, declared “dismayed by the loss” and described Andic as a “employed businessman” which “he helped make Catalonia great and project it to the world“.
The Turkish-born businessman founded fashion retailer Mango with the help of his brother Nahman in Barcelona in 1984, and the chain now operates nearly 3,000 stores in 120 countries. Forbes estimated Andic’s net worth at $4.5 billion.
Isak Andic and his brother entered the business as teenagers, when they started selling T-shirts on the streets of Barcelona. By the time he turned 30, their small business had evolved into an international retailer known all over the world,
