Billionaire Isak Andic Founder of fashion group Mango dies in mountain accident

The founder of the globally successful Spanish fashion group Mango, billionaire Isak Andic, has died in a mountain accident. The 71-year-old died in an accident on Saturday, the company announced.

The state television station RTVE and other Spanish media reported, citing family circles, that the Turkish-born entrepreneur fell to his death during a family outing in the Montserrat mountains around 40 kilometers northwest of Barcelona. It was reported that he slipped in the saltpetre caves of Collbató at midday and fell around 150 meters.

With an estimated fortune of around three billion euros, Andic was considered one of the richest men in Spain. He was a keen mountaineer and hiker. The Catalan regional president Salvador Illa wrote on the news platform X that he was shocked. Andic had left an indelible mark on the Catalan and global fashion industry.

Emigrated to Spain in 1969

The family of the entrepreneur, who was born in Istanbul in 1953, emigrated to Spain in 1969. In the early 1980s, Andic opened several fashion stores in Barcelona and Madrid under the name Isak Jeans. He renamed them Mango 40 years ago.

With 2,700 points of sale in more than 120 countries and more than 15,000 employees, Mango closed the last financial year 2023 with a historic sales record of more than 3.1 billion euros. This corresponds to growth of 15 percent compared to 2022. According to the Group, almost 80 percent of sales are now generated outside of Spain.

"Isak was a role model for all of us", emphasized Mango CEO Toni Ruiz in the company's press release. "He dedicated his life to the Mango project and left an indelible mark thanks to his strategic vision, his inspiring leadership and his unwavering commitment to the values he brought to our company."