Billionaire owner of Mango fashion empire dies in mountain accident

The founder of fashion empire Mango has died on Saturday in a mountain accident, the company has said.

Isak Andic, 71, died after slipping from a 150-metre cliff while harking with relatives in the Montserrat caves near Barcelona, according to Spanish newspaper La Vanguardia.

“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 … to ensure that Mango continues to be the project that Isak was ambitious and proud of,” a statement from Mango’s CEO Toni Ruiz said.

Mr Andic moved to Spain’s northeastern region of Catalonia from Turkey in the 1960s. He founded Mango in 1984, building up a net worth of $4.5 billion, according to Forbes magazine.

He was the non-executive chairman of Mango when he died, and was seen as a rival to Amancio Ortega, the owner of Inditex, the largest fast-fashion retailer in the world.

Mango’s turnover was 3.1 billion euros in 2023, with 33 per cent of its business online and a presence across more than 120 markets.

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