Billionaire Isak Andic, founder of high street fashion chain Mango, died in a mountain accident on Saturday near Barcelona.
The fashion tycoon, 71, slipped and fell over 100 metres from a cliff while hiking with family in the Montserrat caves, police said.
“He dedicated his life to Mango, leaving an indelible mark thanks to his strategic vision, his inspiring leadership and his unwavering commitment to values that he himself imbued in our company,” Mango's 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 ... to ensure that Mango continues to be the project that Isak was ambitious and proud of," he added.
The businessman started Mango, along with his brother, Nahman, in 1984 and built the Spanish retailer into a global brand, operating nearly 3,000 outlets in 120 countries. Mango had a turnover of €3.1 billion (A$5.1 billion) in 2023, and is aiming to reach €4 billion in sales by 2026.
Forbes estimated Andic's net worth to be US$4.5 billion (A$7.1 billion) and was a non-executive chairman of Mango when he died.
Spanish Prime Minister Pedro Sanchez confirmed Andic’s death. "All my love and recognition for your great work and business vision, which has turned this Spanish firm into a world leader in fashion," Sanchez said on X.
Zara founder Amancio Ortega, another Spanish fashion billionaire, was seen as Andic’s rival.
Marta Ortega Perez, chair of Zara’s parent company Inditex, said, “This is such tragic news for all those who were lucky enough to know Isak Andic. It is also a huge loss for the Spanish business world and the global fashion sector — in both worlds his contribution has defined an era. Sending my deepest condolences to his family, friends and everyone who is part of the great company he created and which we at Inditex admire so much.”
Mango’s popularity in the United Kingdom reached new heights in 2011, when iconic British model Kate Moss was tapped as the face of Mango.
Last April, Mango unveiled a high profile collaboration, a collection of tailoring, slipdresses, knitwear and accessories designed with Victoria Beckham in a muted palette of summery “island” colours.
Turkish-born Andic moved to north-eastern Spain's Catalonia region in the 1960s with his family. Mango was first located on Paseo de Gracia in Barcelona, before expanding outside of Spain in 1992.
