Billionaire founder of clothing brand Mango falls to death exploring Barcelona caves

• Isak Andic, the founder of the fashion brand Mango, has died in an accident, the company said.
• Andic fell into a ravine while hiking in caves near Barcelona, according to reports.
• 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.

Andic, who served as the company’s non-executive chairman, died after an accident, Mango CEO Toni Ruiz said in a press release.

“Isak has been an example for all of us. He dedicated his life to Mango, leaving an indelible mark thanks to his strategic vision, his inspiring leadership and his unwavering commitment to values that he himself imbued in our company,” Ruiz said in the press release.

Ruiz praised Andic’s “care and affection that he always had” for the company.

Pedro Sánchez, the prime minister of Spain, said in a post on X that Andic died in an accident in the caves of Salnitre in Collbató, which is just outside of Barcelona.

According to multiple reports, Andic fell into a ravine while hiking through caves with his family. The ravine was over 320 feet deep, CNN reported, citing local police.

On Sunday, Mango’s website featured a tribute to Andic on its home page, and photos show the flags at the company’s headquarters in Barcelona flying at half-mast.

Andic started the company in Barcelona in 1984. According to Mango’s website, it’s now in over 120 markets and has a thriving online presence. Forbes reported that Andic and his family are worth $4.5 billion.