Isak Andic, the billionaire founder of the clothing retailer Mango, died on Saturday after an apparent accident, the company announced, and local reports suggest he fell while hiking with family members near Barcelona.
Local police say they were notified of a man who fell down a ravine hundreds of feet deep.
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Key Takeaways
- Andic, the non-executive chairman and founder of Mango, died unexpectedly at age 71 after an accident on Saturday, Mango CEO Toni Ruiz said, though he did not provide details about the incident.
- Local reports suggest Andic died after falling while on a hike with several family members.
- Police in Catalonia told CNN they were notified of a 71-year-old man who had fallen down a 320-foot ravine near the Collbató caves of Salitre, a tourist destination near Barcelona, and a source with knowledge of the events told the outlet the victim was Andic.
- Catalonia police were deployed to the caves and retrieved the body, though they did not confirm if it was Andic, CNN reported.
Crucial Quote
Salvador Illa, Catalonia’s regional president, wrote on X that Andic left “an indelible mark on the Catalan and global fashion sector,” saying Andic contributed to “making Catalonia great and projecting it to the world.”
Forbes Valuation
Andic and his family have a fortune valued at $4.5 billion, according to our latest estimates. Mango has more than 2,100 stores spanning 11 countries, with international business taking up about three-fourths of the company’s revenue.
Key Background
Andic, who was born in 1953 in Istanbul, moved to Barcelona at age 14, according to Mango’s website. He opened his first clothing retail store in 1984 with his brother Nahman, and the pair opened more stores across Spain and neighboring Portugal and France under the Mango brand. Mango went international in 1992 and expanded to its 1,000th store in 2007. The retailer has now expanded to more than 120 markets and employs more than 15,500 people, according to the company. Andic’s son Jonathan sits on Mango’s board and is the presumptive heir.
