Mango fashion tycoon dies in mountain accident

Istanbul-born founder and owner of fashion empire Mango Isak Andic died on Saturday in a mountain accident, aged 71.

The businessman slipped and fell from a 150-metre cliff while hiking with relatives in the Montserrat caves near Barcelona, Spanish newspaper La Vanguardia said.

"His departure leaves a huge void but all of us are, in some way, his legacy and the testimony of his achievements. Tt 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.

Andic moved with his family to the northeastern Spanish region of Catalonia from Turkey 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 ITX.MC, 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.