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July 22 2014

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it’s the economy, stupid: fashion follows the money

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We found ourselves sitting next to Dana Thomas, author of Deluxe: How Luxury Lost Its Luster, at the Cavalli show yesterday, so we decided to take the opportunity to ask how she felt the current financial meltdown would affect the industry. “Everybody is commenting on the fact that Prada is in talks with Istithmar, the Dubai-based fund. If this partnership works out it will lead Prada headfirst into the Middle East,” Thomas replied. “There’s still a lot of money about—all you need to do is to redirect yourself to where it sits. And from now on it will be sitting in Russia and the Gulf.”

Photo: Jasmine Serrurier

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  1. Appollonia says:

    I have had never any other illusion than “that fashion follows the money”.
    I like to ad China too the list. Losts of big houses -as of course is well known here I assume- has opened yet flagstores in China or are in negotiation to do so.

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