Isak Andic, the billionaire founder of Spanish fashion company Mango, has died following an accident at a popular hiking spot outside Barcelona.
The 71-year-old was reportedly found on Saturday at the bottom of a ravine in Catalonia, near the Coves Del Sanitre, after falling more than 320 feet, regional authorities told CNN.
Andic’s death was announced in a statement from Mango CEO Toni Ruiz.
“It is with deep regret that we announce the unexpected death of Isak Andic, our non-executive chairman and founder of Mango, in an accident that occurred this Saturday,” Ruiz said.
“His departure leaves a huge void but all of us are, in some way, his legacy and the testimony of his achievements,” the CEO continued. “In these extremely difficult times, we share the pain of the family as if it were our own.”
Spanish Prime Minister Pedro Sánchez also issued a statement on social media addressing Andic’s death.
“My condolences to the family of Isak Andic, founder of Mango, upon his tragic death in an accident in the Salnitre de Collbató caves,” Sánchez said, according to a translation. “All my love and recognition for your great work and business vision, which has turned this Spanish brand into a world reference in fashion.”
Andic founded Mango in Barcelona in 1984 and grew it to a global brand by the mid-2000s. As of earlier this year, the fashion giant had more than 2,700 stores in over 110 countries. At the time of his death, Andic was reportedly worth $4.5 billion.