Is Milano Sud becoming the new luxury hub?

The Olympics can either rejuvenate or destroy a city. We had proof of this in Paris last summer, when even the government's greatest efforts were not enough to redevelop the city ahead of the event. The city was in shambles due to staff strikes, protests by the French, and general chaos in the Olympic village, which was not completed on time. With such an example behind it, Milan must roll up its sleeves in preparation for the 2026 Winter Olympics, scheduled from February 6 to 22. The city has already begun work on constructing the Olympic Village, which will rise in the former Porta Romana railway yard. Although the project is in the hands of the U.S. architecture firm Skidmore Owings & Merrill, the contract was awarded for €180 million to Prada, Coima, and Convivio. The group founded by Miuccia Prada and Patrizio Bertelli plays a central role in the investments supporting the redevelopment of Milan ahead of the Winter Olympics, possibly because Fondazione Prada is located near the future Olympic Village. 

An interesting phenomenon taking shape ahead of Milan Cortina 2026 is the migration of the headquarters of major Italian brands to South Milan, right near Fondazione Prada. Recently, more and more brands are following the movements of the most profitable company in Italy: currently located in Via Solari, in December Moncler will open its headquarters between Via Gargano and Via Broni (exactly 900 meters from Fondazione Prada), while Jil Sander and Marni, both part of the OTB Group, will move next year to Via Lorenzini (300 meters from Fondazione Prada). The fashion moves in Milan involve not only management but also shopping: while Via Montenapoleone has recently been named the “most expensive street in the world” for the first time in history, surpassing Fifth Avenue in New York, some major brands are deciding to leave the Quadrilatero della Moda, starting with Dior, which has moved to Corso Venezia. Thus, the great period of change facing the fashion industry, between a luxury crisis and the reshuffling of creative directors, is also impacting the real estate sector. The redevelopment of South Milan ahead of the Winter Olympics and soaring rents are rewriting the shopping map of the city, potentially forever transforming the hierarchical structure of Milanese luxury.