How a local company based in Budapest is conquering the top of world fashion

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With celebrities like Rihanna, The Justin Bieber and the Billy Ailis to wear his designs, the Hungarian fashion house Nanushka has ρό stardust that many designers only dare to dream of.

However, this company is just one of a large number of talented designers from central Europe embracing the top of world fashion, showcasing their collections on its catwalks London, του Paris and her New York as they target lucrative markets such as China and the United States.

It used to be a local business and today the Nanushka based in Budapest sees its annual revenue increase 33 times to 33 million euros.

Focusing on sustainable designs, including its vegan leather clothing, Nanushka became the fastest growing fashion company in Europe, according to the FT 1000 annual list of European high-growth companies.

Other designers who have now emerged from Central Europe on the world stage include Nehera based in Slovakia, who has dressed his star Hollywood such as Keira Knightley, Tilda Swinton and Marion Cotillard and the Poland Magda Butrym, with Megan Fox and Hailey Bieber including.

For these companies, taking a position in high fashion was facilitated by Instagram of Facebook Inc (FB.O) and other online platforms that help young, independent designers outside of international fashion centers to be seen by a global audience… hungry for something different.

“Without social media 15-20 years ago, it would have been almost impossible to build a global fashion house from BudapestHe told Reuters its CEO Nanushka, Peter Baldaszti – married to the founder and designer Sandra Sandor.

The brand – which opened a store in New York in 2019 and another at London in 2020 despite the pandemic – estimates the United States as its largest market, but says that the China is the future. The parent company Vanguards Fashion Group, of which the Furniture is also a CEO, also won the Italian fashion brand Sunnei for $ 7 million in 2020 as part of a strategy to build a fashion portfolio across Europe.

THE Central Europe boasts a long tradition in the textile industry dating back to First Republic between the two World Wars, when the area was a center of culture and design.

After the fall of communism in 1989, Western luxury brands and fashion houses had workshops where they produced bags, scarves and clothing, taking advantage of proximity to Western European markets, lower costs and a skilled workforce.

Now, local luxury brands in these markets are moving in the other direction to take advantage of a global luxury goods sector estimated to grow to about $ 383 billion in 2025 from $ 309 billion this year, aided by demand in China.

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