Getty ImagesIsaac Indyk, the billionaire founder of the high-end fashion chain Mango, died in an accident on Saturday while exploring caves near Barcelona.
Spanish media reported that the 71-year-old man fell to his death in a ravine while hiking in caves that are part of a mountain range.
Andek was with his son and other family members when he fell, according to El Pais newspaper, prompting a major emergency response.
The Turkish-born businessman founded Mango With the help of his brother Nahman, Founded in Barcelona in 1984, the chain now operates nearly 3,000 outlets in 120 countries. Forbes estimated Andik's net worth at $4.5 billion (£3.6 billion).
Andik reportedly fell into a 150-meter ravine while hiking in an area of Montserrat's mountains known for its deep caves.
El Pais newspaper reported that the police were called at around 1:00 local time (12:00 GMT), and a helicopter and a specialized mountain unit were sent to the scene.
“His passing leaves a huge void but we are all, in some way, his legacy and a testament to his achievements,” Mango CEO Tony Ruiz said in a statement.
“It is up to us, and this is the best tribute we can and will give Isaac, to ensure Mango continues to be a project that Isaac aspires to and that he will feel proud of.”
Spanish Prime Minister Pedro Sanchez confirmed Andek's death in an accident that occurred in the Salnitre de Colbato caves.
“All my love and appreciation for your amazing work and business vision, which has transformed this Spanish company into a world leader in fashion,” Sanchez said.
Getty ImagesCatalan Prime Minister Salvador Illa Roca said he was “appalled by the loss” and described Andic as a “committed businessman” who “contributed to making Catalonia great and showing it to the world.”
Andich moved to the Catalonia region of northeastern Spain in the 1960s with his family and was non-executive chairman of the company when he died. Mango has a turnover of €3.1bn (£2.6bn) in 2023.
He was seen as a rival with Zara founder Amancio Ortega, another Spanish fashion billionaire.
The brand's popularity in the UK was boosted in 2011 when British model Kate Moss was announced as the face of Mango.
