Social media is increasingly credited with democratising the landscape of fashion in London and New York. But in Milan’s swankiest shopping street, an end to the industry’s deeply ingrained elitism – as epitomised by Milan Fashion Week, which ended last week, with its invitation-only events and cosy tribalism – still seems a long way off.
Via Montenapoleone, home to the flagship stores of the cream of Italian design, is where the conceptual currency of the catwalks is converted into hard cash.
In its glittering stores, platinum credit cards will keep the cash registers ringing long after the fashionistas have decamped to the next catwalk fest which is in Paris this week.
Window-shopping with a friend, local resident Lila Sciacca says few in the city would dispute the economic benefits of Milan fashion week: €48 million (Dh197.7m) was City Hall’s estimate of the revenues generated by the most recent bash.
An amateur dressmaker, Sciacca is one of millions of fashion fans who stream live webcasts of the catwalk shows to digital devices – but the exclusivity of the shows still rankles.
“At the shows it is always the same cast of people,” she says. “If you are not an insider or in the business, you have to be connected – and let’s be frank, how many people can actually afford these clothes we are talking about, when every day is a struggle to survive?”
Milan’s new mayor, Giuseppe Sala, also grumbles about the industry’s exclusivity.
The organiser of last year’s World Expo, he recently told fashion chiefs that “in terms of participation, there is much more that can be done”.
Italy's Chamber of Fashion hit back, citing 30 publicly accessible events running in parallel with the latest big-name shows. Among them was Outside In, an open-air exhibition of new images by acclaimed British photographer Rankin that lined Via Montenapoleone.
A veteran of the days when membership of the club of fashion obsessives was much smaller than it is now, Rankin says his images of models in boxes displaying different emotions was designed as a celebration rather than a critique. He adds that photo-sharing website Instagram has had a hugely disruptive effect on the fashion world.
The vast online followings built by models such as Gigi Hadid, Kendall Jenner and Cara Delevingne have made them hugely influential industry players, giving them the kind of commercial clout that was once the preserve of a handful of editors of glossy magazines.
Rankin, co-founder of influential 1990s style magazine Dazed & Confused, says the change is exciting, even if he has some reservations about it. "I love photography so much, I can't not get excited by a whole new generation that maybe would never have had the opportunity to learn or even think you can go to college to do photography," he says.
“At the same time, I studied for six years to become a photographer – so when somebody shows me their Instagram picture I go slightly, ‘whoah’.
“Instagram and social media and being able to buy straight from the catwalk is the antithesis of what it used to be about. It used to be a small world but it has gone from 100,000 people to maybe two to three million that are absolutely obsessed by it.”
The Rankin exhibition was the latest in a series commissioned by Guglielmo Miani, president of the Via Montenapoleone Association, an organisation that comprises 140 luxury brands associated with the famous street. Miani says allegations of snobbish exclusivity are unfair. “The truth is that this is a working week for professionals so it is, in a way, a closed circuit,” he says. “That is why we decided to have an open-to-everyone exhibition.”
Growing online sales are also part of the disruptive wave that fashion is currently surfing – but Miani is confident it is one Via Montenapoleone and its counterparts in London, Paris and elsewhere can ride out.
“The [brick-and-mortar store] experience is getting more enriching all the time,” he says. “We just saw the new Dolce and Gabbana store opening, Brunello Cucinelli is opening soon. The physical space of the store is still very important.
“Globally e-commerce is about 10 per cent of luxury goods. It is going to grow but at the same time there are markets such as Iran that are going to want to buy clothes and they will want to have stores there.
“Via Montenapoleone will be around for another 100 years, maybe 200 years – and hopefully it will be even more special than today.”
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
BORDERLANDS
Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis
Director: Eli Roth
Rating: 0/5
The Lowdown
Us
Director: Jordan Peele
Starring: Lupita Nyong'o, Winston Duke, Shahadi Wright Joseqph, Evan Alex and Elisabeth Moss
Rating: 4/5
Company%20Profile
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TO A LAND UNKNOWN
Director: Mahdi Fleifel
Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa
Rating: 4.5/5
Sri Lanka World Cup squad
Dimuth Karunaratne (c), Lasith Malinga, Angelo Mathews, Thisara Perera, Kusal Perera, Dhananjaya de Silva, Kusal Mendis, Isuru Udana, Milinda Siriwardana, Avishka Fernando, Jeevan Mendis, Lahiru Thirimanne, Jeffrey Vandersay, Nuwan Pradeep, Suranga Lakmal.
Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
match info
Southampton 2 (Ings 32' & pen 89') Tottenham Hotspur 5 (Son 45', 47', 64', & 73', Kane 82')
Man of the match Son Heung-min (Tottenham)
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
Company Profile:
Name: The Protein Bakeshop
Date of start: 2013
Founders: Rashi Chowdhary and Saad Umerani
Based: Dubai
Size, number of employees: 12
Funding/investors: $400,000 (2018)
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Tips for newlyweds to better manage finances
All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.
Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.
Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.
Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.
Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.
Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.
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The five pillars of Islam
Killing of Qassem Suleimani
The five pillars of Islam