Billionaire founder of fashion chain Mango dies in accident

The billionaire founder of fashion chain Mango Isak Andic has died in a mountain accident today, according to police.

The 71-year-old businessman reportedly slipped and fell from a 150-metre cliff while hiking with relatives in the Monserrat caves near Barcelona, a police spokesperson said.

Mr Andic, who was born in Istanbul, Turkey, and moved to Spain in the 60s, founded Mango in 1984.

He was worth $4.5 billion (£3.6bn), according to Forbes, and was non-executive chairman of the company when he died.

Mango’s CEO Toni Ruiz said in a statement Mr Andic’s death was “unexpected”.

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He paid tribute to Mango’s founder saying: “Isak has been an example for all of us. 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.

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“His legacy reflects the achievements of a business project marked by success, and also by his human quality, his proximity and the care and affection that he always had and at all times conveyed to the entire organisation.

“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.

“In these extremely difficult times we share the pain of the family as if it were our own.”

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Mango had a turnover of 3.1bn euros (£2.6bn) in 2023 with 33% of its business online and a presence in more than 120 markets.

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