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
Helmut Lang (fashion brand) fragrances (1999) were launched, but otherwise the brand was kept unified to solidify its identity and strength. The runway show venues for the Helmut Lang label were switched from Paris (until 1998) to New York by Mr. Lang and back again to Paris by Prada (from 2002 to 2005). The collections/presentations used to be called "" ("working sessions") by Mr. Lang. In 1999, Milan-based fashion house Prada acquired 51% of the Helmut Lang company in the course of a multi-brand strategy, which also included the acquisition of German fashion label Jil Sander. After alleged disputes with Prada Group's CEO Patrizio