LA STAMPA

Giorgio Armani Pummels Prada, Says Fashion Is Now A Slave To Big Banks

Designer Giorgio Armani gave reporters an earful Tuesday following a fashion event in Milan, Italy.

Armani poses with Italian league Olimpia basketball players (br1dotcom)
Armani poses with Italian league Olimpia basketball players (br1dotcom)

Worldcrunch NEWS BITES

MILAN - Top Italian designer Giorgio Armani has denounced the current state of the fashion industry for being "in the hands of" high finance rather than the fashion houses themselves.

Speaking after the last day of Milan's menswear spring/summer fashion week, Armani's comments were also a not-so-subtle swipe at rival Prada, which was recently quoted on the Hong Kong stock exchange.

"I've wanted to say something about this for awhile, and now's the time: fashion is in the in the hands of the banks (and) the stock market," Armani told reporters Tuesday. "It no longer belongs to the owners, but to those above them. I still haven't been able to understand how the banks influence our line of work -- it's a mystery."

Asked if the comments were a reference to Prada's move earlier this month to become the first top European fashion house to be listed on the Hong Kong exchange, Armani, 76, declared: "I don't have debts. Instead, Prada's problem is that they have to pay back the money that the banks spent to build up the brand."

Armani said he preferred to remain independent, and had no plans to sell the company. "There are thousands of ways to make money. But for me, I don't want to wind up having to knock on the door of some Thai managers to explain myself."

He said that Prada chief Miuccia Prada was "ingenious' for her "irony...and bad taste that becomes chic." But he complained that certain collections that are "sometimes ugly" always get positive coverage in the press. "You know why..."

Prada refused comment.

Read the full story in Italian by Antonella Amapane

Photo - br1dotcom

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Geopolitics

In Sudan, A Surprise About-Face Marks Death Of The Revolution

Ousted Prime Minister Abdalla Hamdok was the face of the "stolen revolution". The fact that he accepted, out of the blue, to return at the same position, albeit on different footing, opens the door to the final legitimization of the coup.

Sudanese protesters demonstrating against the military regime in London on Nov. 20, 2021

Nesrine Malik

A little over a month ago, a military coup in Sudan ended a military-civilian partnership established after the 2019 revolution that removed President Omar al-Bashir after almost 30 years in power. The army arrested the Prime Minister Abdalla Hamdok and, along with several of his cabinet and other civil government officials, threw him in detention. In the weeks that followed, the Sudanese military and their partners in power, the Rapid Support Forces, moved quickly.

They reappointed a new government of “technocrats” (read “loyalists”), shut down internet services, and violently suppressed peaceful protests against the coup and its sabotaging of the 2019 revolution. During those weeks, Hamdok remained the symbol of the stolen revolution, betrayed by the military, detained illegally, unable to communicate with the people who demanded his return. In his figure, the moral authority of the counter-coup resided.

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We are grateful for reader support to continue our unique mission of delivering in English the best international journalism, regardless of language or geography. Click here to contribute whatever you can. Merci!
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