Billionaire owner of Mango dies in freak accident

The 71-year-old was with his son and other family members when he died.

According to Spanish outlet El Mundo, Andic fell down a ravine to his death while hiking in caves that are part of a mountain range.

The entrepreneur was with his son and other family members when he fell. Emergency services responded at the scene, but Andic didn't survive the fatal 150-metre plummet.

Mango's CEO, Tony Ruiz, posted a statement to the company website shortly after news of Andic's passing began to spread.

The statement reads: "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.

"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. His legacy reflects the achievements of a business project marked by success, and also by his human quality, his proximity and the care and affection that he always had and at all times conveyed to the entire organization.

"His departure leaves a huge void but all of us are, in some way, his legacy and the testimony of his achievements," Ruiz added. "It is up to us, and this is the best tribute we can make to Isak and which we will fulfill, to ensure that Mango continues to be the project that Isak aspired to and of which he would feel proud.

"In these extremely difficult times we share the pain of the family as if it were our own."

The Turkish-born businessman founded Mango with the help of his brother, Nahman,in Barcelona in 1984. The chain now operates almost 3,000 outlets in 120 countries.

The brand's popularity in the UK was boosted in 2011 when British model Kate Moss was announced as the face of Mango.

Spanish Prime Minister Pedro Sanchez confirmed Andic died in an accident at the Salnitre de Collbató caves.

"All my love and recognition for your great work and business vision, which has turned this Spanish firm into a world leader in fashion," Sanchez said.