Miuccia Prada Speaks Out Against Selling Luxury Labels to Foreigners, Says Italian Fashion Is Becoming 'Second League'

Traditionally, Milan has been home to strong luxury fashion businesses that, more so than anywhere else, are owned by the families of their founding designer. However, many of them have begun (or are rumored to be) looking into other development options like IPOs, selling to conglomerates or royalty, or looking elsewhere, like Paris, to show and grow their businesses. First lady of Italian fashion and all-around smart lady Miuccia Prada recently voiced her opinion on the matter of Italian brands leaving Italy in a rare interview with La Republicca (reports WWD), and it's not particularly optimistic. “With the sale of our luxury labels to foreigners, our entire system risks falling into second league,” Prada said, “Because if our brands cross our borders, the credit, glamour, fame and decision making is in the hands of others, and we are abandoned, downgraded."
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Dhani Mau
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Traditionally, Milan has been home to strong luxury fashion businesses that, more so than anywhere else, are owned by the families of their founding designer. However, many of them have begun (or are rumored to be) looking into other development options like IPOs, selling to conglomerates or royalty, or looking elsewhere, like Paris, to show and grow their businesses. First lady of Italian fashion and all-around smart lady Miuccia Prada recently voiced her opinion on the matter of Italian brands leaving Italy in a rare interview with La Republicca (reports WWD), and it's not particularly optimistic. “With the sale of our luxury labels to foreigners, our entire system risks falling into second league,” Prada said, “Because if our brands cross our borders, the credit, glamour, fame and decision making is in the hands of others, and we are abandoned, downgraded."
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Traditionally, Milan has been home to strong luxury fashion businesses that, more so than anywhere else, are owned by the families of their founding designer. However, many of them have begun (or are rumored to be) looking into other development options like IPOs, selling to conglomerates or royalty, or looking elsewhere, like Paris, to show and grow their businesses.

First lady of Italian fashion and all-around smart lady Miuccia Prada recently voiced her opinion on the matter of Italian brands leaving Italy in a rare interview with La Republicca (reports WWD), and it's not particularly optimistic. “With the sale of our luxury labels to foreigners, our entire system risks falling into second league,” Prada said, “Because if our brands cross our borders, the credit, glamour, fame and decision making is in the hands of others, and we are abandoned, downgraded."

Giving Raf Simons as an example, she accuses brands of snubbing Milan for the culture and glamour of Paris, but can understand why (which she should, considering she, herself, shows Miu Miu in Paris instead of Milan). She says Italy is seen as a place with "less resources, culture, protagonists, ideas, vitality and money," and so, "fashion goes elsewhere, looking for the best." She blames the media for portraying fashion as "frivolous" instead of relevant and important and politicians who “remain diffident toward wealth and glamour.”

She worries that Milan is at risk of becoming devoid of the glamorous aspect of fashion and will serve solely as a hub for manufacturing.

What do you think--is Milan lacking in the glamour and sophistication of Paris? Will designers continue to snub Milan for the city of lights?