Isak Andic, founder and owner of fashion empire Mango, died in a mountain accident on Saturday, police said. He was 71 years old.
The businessman was hiking with relatives in the Montserrat caves near Barcelona when he slipped and fell more than 100 meters off a cliff, a police spokesman said.
“His departure leaves a huge void, but we are all in some way his legacy and bear witness to his accomplishments. We hope that Mango remains Isak's ambitious and proud project. It’s up to us to guarantee that,” Mango CEO Toni Ruiz said in a statement.
Born in Istanbul, Andic moved with his family to Catalonia in northeastern Spain in the 1960s and founded Mango in 1984. According to Forbes magazine, his net worth is $4.5 billion. At the time of his death, he was non-executive chairman of the company.
He was seen as a rival to Amancio Ortega, owner of Inditex, the world's largest fast-fashion retailer.
Mango has sales of €3.1 billion in 2023, 33% of its business online and a presence in more than 120 markets.
