Mango founder Isak Andic dies in cliff fall in Spain

Isak Andic, the founder of the global fashion chain Mango, passed away on Saturday after falling off a cliff in north-eastern Spain, the company announced.

The 71-year-old billionaire reportedly slipped and fell 150 meters while walking with his wife and son in the Saliter de Collbato caves, close to Barcelona, at around 1pm local time .

"It is with deep regret that we announce the unexpected death of Isak Andic, our non-executive chairman and founder of Mango, in an accident that occurred this Saturday," said Mango Chief Executive Toni Ruiz in a statement.

Ruiz praised Andic's lifelong dedication to Mango, saying that his departure "leaves a huge void."

Born in Istanbul, Andic immigrated to Spain from Turkey at the age of 13. He began his career by selling T-shirts to classmates and culminated in the establishment of Mango's first store in Barcelona in 1984.

At the time of his death, Andic had an estimated net worth of 4.5 billion US dollars, according to Forbes. Mango, which operates in over 120 countries, reported a turnover of 3.26 billion US dollars in 2023.