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
Prada group called the Prada Transformer in Seoul. The building was first used to display the "Waist Down - Skirts by Miuccia Prada" exhibition, and later changed into a movie theater. In 2012, Mrs. Prada, along with designer Elsa Schiaparelli, was the subject of the Metropolitan Museum of Art's exhibition, "Impossible Conversations". In 2014, an exhibition called "Pradasphere" bowed in Hong Kong and London, highlighting the Prada universe. In 2015 Prada opened a permanent home for Foundazione Prada in Milan. Located in a former distillery redesigned by Rem Koolhaus's OMA group, it hosts a permanent collection of site-specific art as well