Isak Andic, founder of Mango fashion chain, dies in accident aged 71

Isak Andic, the billionaire founder of high street fashion chain Mango, died in an accident on Saturday, according to the company.

Spanish media reported the 71-year-old fell down a ravine to his death while hiking in a mountain range outside Barcelona.

Andic was with his son and other family members when he fell, according to the El Pais newspaper, triggering a large emergency response.

The Turkish-born businessman founded Mango with the help of his brother, Nahman, in Barcelona in 1984 and the chain now operates almost 3,000 outlets in 120 countries. Forbes estimated Andic’s net worth to be $4.5bn.

Spanish media reported Andic fell down a 150-meter ravine while hiking in an area of the Montserrat mountains known for its deep caves.

Police were called at around 1pm and a helicopter and specialised mountain unit was sent to the scene, El Pais reported.

Mango CEO Toni Ruiz said in a statement: “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 fulfill, to ensure that Mango continues to be the project that Isak aspired to and of which he would feel proud.”

The president of Catalonia’s government, Salvador Illa Roca, said he was “dismayed by the loss” and described Andic as a “committed businessman” who “contributed to making Catalonia great and projecting it to the world”.