Mango fashion tycoon Andic dies in mountain accident

MADRID (Reuters) - The founder and owner of fashion empire Mango, Isak Andic, died on Saturday in a mountain accident, police said. He was 71.

The businessman slipped and fell over 100 metres from a cliff while hiking with relatives in the Montserrat caves near Barcelona, a police spokesperson said.

"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," Mango's CEO, Toni Ruiz, said in a statement.

Born in Istanbul, Andic moved with his family to the northeastern Spanish region of Catalonia in the 1960s and founded Mango in 1984. He was worth $4.5 billion, according to Forbes. He was non-executive chairman of the company when he died.

He was seen as a rival to Amancio Ortega, the owner of Inditex (BME:ITX ), the world's largest fast-fashion retailer.



Mango had a turnover of 3.1 billion euros in 2023 with 33% of its business online and a presence in more than 120 markets.

(This story has been refiled to fix the garble in paragraph 3)

Source: Investing.com