2100s

Therefore, there is very strong evidence that the fundamental authority in the fashion industry still rests strongly with Europe, particularly Milan and Italian designers - evidenced through the palpable international praise and worshiping of the quality and superiority of Italian tailoring and "Alta Costura" or "high-end" Italian designer products. Regardless of the modern phenomena of the growth of luxury resorts and products being manufactured outside Europe, such as in Asia and the Middle-East, amazingly, Milan is still the dominant center of luxury and prestige in the world, supported by its history and superior quality surpassing the other so-called "centers" labelled by the media which are based mainly on industry and advertising, rather than quality and elegance. These trends suggest that Milanese dominance will continue, as designers from foreign nations look up to and completely depend on Italian and French maestros and masters of the art to teach them. There is an increasing need for excellence and "hyper-luxury", stated in Vogue Australia March 2012, as seen through Italian and French designer prices climbing even higher in spite of the recent economic crisis.
For many of the own-label designers who emerged in the early years of the 21st century, financial factors became increasingly critical. Many new young talents found they now depended on investors (to whom, in extreme cases, they would even surrender their names) and were always burdened by the risk that their partners, motivated by market realism and the desire for quick returns, would severely restrict their autonomy.