Isak Andic, the billionaire founder of the fashion brand Mango, tragically died on Saturday after an accident while hiking in the Montserrat caves near Barcelona.
He was 71 years old. According to reports, Andic fell about 100 meters into a ravine while hiking with family members. The ravine, located in the Salnitre caves in Collbató, near the city, was over 320 feet deep.
Mango, the global fashion retailer Andic founded in 1984, confirmed his death in a statement, describing him as an inspirational leader who had a lasting impact on the company. CEO Toni Ruiz praised Andic for his vision, leadership, and unwavering commitment to the values that defined Mango.
“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 for the company,” Ruiz said in the tribute.
Born in Istanbul to a Sephardic Jewish family, Andic moved to Catalonia in the late 1960s. He began his entrepreneurial journey by selling t-shirts to fellow students and later expanded into wholesale clothing, eventually opening the first Mango store in Barcelona during a period of economic transformation in Spain. Under his leadership, Mango rapidly expanded both domestically and internationally, becoming one of Spain’s most prominent fashion brands.
Andic’s success in business and his ability to foresee trends were key factors in the brand’s global reach. Mango now operates in over 120 countries, with a strong online presence and a turnover of €3.1 billion in 2023. Forbes estimated Andic’s net worth at $4.5 billion at the time of his death.
Following the announcement of his passing, tributes poured in from both political leaders and industry figures. Spanish Prime Minister Pedro Sánchez expressed condolences, recognizing Andic’s entrepreneurial vision and his contribution to making Mango a global leader in fashion. Other figures, including Salvador Illa, the President of Catalonia, and Alberto Núñez Feijóo, leader of the Spanish People’s Party, also paid tribute to Andic for his business acumen and leadership.
The Federation of Jewish Communities of Spain honored Andic for his contributions to Spanish Jewish life, describing him as a man of great generosity and human qualities.
Mango’s headquarters in Barcelona lowered its flags to half-mast in memory of Andic, while the company’s website featured a tribute to the founder, acknowledging the profound loss.
Business Insider and the Guardian contributed to this report.
