History of fashion design second biggest-selling fashion brand (after LVMH) worldwide with US$7 billion worldwide of revenue in 2006 according to BusinessWeek magazine. In the 1990s the designer label Prada became a true creative force in the fashion industry. The Milanese company was first established in 1923, two years after Gucci, and like Gucci, it was a firm that sold high-quality shoes and leather. It was until the 1980s that Miuccia Prada, the niece of the company's founder, began to produce ready-to-wear fashion, gaining fame for her subtle, streamlined, yet unquestionably luxurious style, that catered for the privileged young woman who prefers understatement to
Italian fashion despite both cities fell down places in subsequent rankings, in 2011, Florence entered as the 31st world fashion capital. Milan is generally considered to be one of the "big four" global fashion capitals, along with New York City, Paris, and London; occasionally, the "big five" also includes Rome. Italian fashion can be also connected to the most generalized concept of "Made in Italy", a sort of merchandise brand expressing excellence of creativity and craftsmanship. Italian luxury goods are renowned for the high quality of their own textiles and the elegance and refinement that goes into making them up, as well