As foreign luxury brands face a reckoning in China, homegrown designers and labels see an opening.
Illustration by Valeria Petrone
Last May, at the Metropolitan Museum of Art’s annual Costume Institute Benefit, the guests were told to dress “in honor of Karl” — a tribute to Karl Lagerfeld, the creative director of Chanel from 1983 until his death in 2019. The Met Gala, as the event is more commonly known, is the biggest event of the year for fashion. Hosted by Anna Wintour, the 36-year editor of Vogue magazine, it is a veritable who’s who of celebrities, and honoring the event’s annual theme can make or break a
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