The 71-year-old businessman slipped and fell off a cliff while hiking with relatives near Barcelona, Spain.
Isak Andic, the founder and owner of Mango, a Spanish clothing retailer with about 2,800 stores around the world, has died in a mountain accident, the company and police said.
The 71-year-old businessman was hiking with relatives in the Montserrat caves near Barcelona on Saturday when he slipped and fell more than 100 meters off a cliff, a police spokesman said.
“It is with great regret that we announce the unexpected death of Isak Andic, non-executive chairman and founder of Mango,” Toni Ruiz, CEO of the Barcelona-based company, said in a statement. ” he said.
“Isaac was a role model for all of us. He dedicated his life to Mango, and thanks to his strategic vision, inspirational leadership and unwavering commitment to the values he himself instilled in our company, we are proud of his dedication to our company. “I left no trace,” he added.
Born in Istanbul, Turkiye, Andic moved with his family to the Catalonia region of northeastern Spain in the 1960s and founded Mango in 1984.
According to Forbes, he was worth $4.5 billion.
According to the company’s website, the company has a significant presence in more than 120 markets and employs 15,500 people worldwide, cementing its position as one of the leading international fashion groups.
The company ended 2023 with sales of 3.1 billion euros ($3.26 billion).
“Leave an indelible mark”
Salvador Illa, head of Catalonia’s regional government, praised Andic as a “dedicated businessman whose leadership has helped make Catalonia great and present it to the world.”
“He left an indelible mark on the fashion industry in Catalonia and the world,” he added in a post on social network X, expressing his condolences.
Like its biggest domestic rival, Inditex, the world’s largest fashion retailer and owner of the popular ZARA brand, Mango quickly adjusts production to the latest fashion trends while offering affordable prices. I am trying to do so.
Mango owns a single brand, does not own any factories, and mainly outsources production to low-cost Turkiye and other Asian countries.