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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