Billionaire owner of Mango fashion empire dies in mountain accident

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

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

Spanish outlet El Pais reported that he fell down a ravine near the Salnitre caves, into an “area of difficult access” while with one of his sons, Jonathan Andic.

Mr Andic’s son alerted emergency services at around 12:30 local time on Saturday, the outlet reported, before an ambulance and helicopter were sent to the scene.

open image in gallery

“Isak has been an example for all of us,” a statement from Mango CEO Toni Ruiz said. “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.”

The police force’s mountain unit has taken control of extracting his body, according to Spanish reports.

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 $4.5bn (£3.56bn) 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 €3.1bn (£2.58bn) in 2023, with 33 per cent of its business online and a presence across more than 120 markets. It has more than 14,000 employees working in more than 2,700 stores in more than 110 countries.

open image in gallery

The fashion brand’s first UK store opened in 1999, and there are now more than 60 stores across the country.

Catalonian president Salvador Illa Roca said he was “dismayed” by the loss of Mr Andic, describing him as a “committed businessman” who contributed to “making Catalonia great and projecting it to the world”.

Mr Roca added: “He leaves an indelible mark on the Catalan and global fashion sector. My condolences and those of the entire Government to family, friends and the Mango team.”