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Isak Andic, the founder of fashion brand Mango, has died in an accident, the company said.
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Andic fell into a hole while hiking in caves near Barcelona, according to reports.
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Andic and his family have an estimated net worth of $4.5 billion, according to Forbes.
Isak Andic, the billionaire founder of the European fashion company Mango, died on Saturday. He was 71 years old.
Mr. Andic, who was once the non-executive chairman of the company, has passed away after an accident, said the CEO of Mango, Mr. Toni Ruiz, in his statement.
“Isak has been an example to all of us. He dedicated his life to Mango, leaving an indelible mark because of his vision, his inspiring leadership and his unwavering commitment to the values he instilled in our company,” Ruiz said in a press release.
Ruiz praised Andic’s “care and love that he always had” for the company.
Pedro Sánchez, the Spanish prime minister, said in an article on X that Andic died in an accident in the caves of Salnitre in Collbató, which is outside Barcelona.
According to many reports, Andic fell into the valley while walking through the caves with his family. The valley was 320 meters deep, CNN reported, citing local police.
On Sunday, Mango’s website featured a tribute to Andic on its front page, and photos showing the flags at the company’s headquarters in Barcelona flying at half-mast.
Andic founded the company in Barcelona in 1984. According to Mango’s website, it is now in over 120 markets and has a thriving online presence. Forbes reported that Andic and his family are worth $4.5 billion.
Read the first article on Business Insider