Billionaire founder of Spain's Mango clothing chain dies in accident

This handout image released by Mango on December 14, 2024 shows Mango fashion powerhouse non executive chairman and founder Isak Andic who died unexpectedly December 14, 2024 in an accident

Isak Andic, the founder of Spanish clothing retailer Mango, one of Europe's largest fashion groups, with nearly 2,800 stores worldwide, died Saturday in an accident, the company said.

"It is with deep regret that we announce the unexpected death of Isak Andic, our non-executive chairman and founder of Mango," the Barcelona-based company's CEO, Toni Ruiz, said in a statement.

"Isak has been an example for all of us. He dedicated his life to Mango, leaving an indelible mark thanks to his strategic vision, his inspiring leadership and his unwavering commitment to values that he himself imbued in our company," he added.

The company did not provide further details about the accident. Spanish media said the 71-year-old died after falling while hiking with several members of his family near Barcelona.

Mango traces its origins to 1984, when Andic, who is of Turkish origin, opened his first shop on the Paseo de Gracia, Barcelona's famous shopping street, with the help of his older brother Nahman.

It was hugely successful. Spain had just emerged from a decades-long dictatorship that ended with the death of General Francisco Franco in 1975, and consumers were hungry for more modern clothes.

Mango has consolidated its position as one of the leading international fashion groups, with a major presence in more than 120 markets and 15,500 employees worldwide, according to its website.