Luxury house Prada maybe pioneering the induction a new global fashion capital with its decision to stage an exclusive runway show in (No, not Paris, Milan or New York) but in Beijing. The Chinese metropolis has become increasingly relevant for the Italian luxury goods firm, showing a 51 percent increase in revenues in the first nine months of 2010. Prada’s vice president, Carlo Mazzi, said last month that “when you have to raise funds, you look around and you go and raise them where the offer is more attractive. Money has no country. Where there is a larger availability of money, that’s where we will go and collect money, but we will use it in Italy.”
The show will reportedly be comprised mostly of Prada's Spring 2011 looks, with head designer Miuccia Prada creating a series of new items especially for the event. Reps for the luxury brand noted that Prada plans to open 17 stores in China next year and another 11 in 2012.
China has become a hotbed of luxury activity lately with other fashionable names holding high brow events. In October, Tod’s introduced the iconic Italian opera house La Scala to China as part of its partnership with Milan’s prestigious theater. Over the summer, Ermenegildo Zegna marked its centennial celebration with a fashion show and a party in Shanghai, and in June, Salvatore Ferragamo held a show in Hong Kong at the Bank of China Tower. Karl Lagerfeld, Fendi, and Donatella Versace have also held notable events throughout the country in the past few years.
Could this be the makings of a Beijing Fashion Week?
Article Source: WWD
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Tags: Alia Rajput, Beijing, capital, Carlo Mazzi, China, Donatella Versace, Ermenegildo Zegna, fashion, Fendi, Hong Kong, Italy, Karl Lagerfeld, luxury, money, Prada global, Salvatore Ferragamo, stores, Tod's