Miuccia Prada, Christmas is approaching. How are sales going?

“We are now in a phase of rethinking everything. It is not true that people are not buying. They are not buying just for the sake of buying, but only when they are really motivated to do so.”

What are you doing about this?

“In our New York store, every season we present a ‘Vintage’ collection, a showcase of our previous designs. It is not about turning ourselves into a museum, but about revisiting styles that are relevant today even though they are no longer in production. This idea has really captured the imagination of Americans, who have embraced it.

“There are also certain stores around the world that we call epicenters. They are special, experimental spaces designed by leading architects. They are part of a unique retail concept: In the evening, for example, we show movies or host other events.”

Is the New York store the only one of its kind?

“It is the first in a series. The second is under construction in Tokyo and will open in 2003. At the beginning of 2004, we will open another one in Los Angeles.”

And in Europe?

“Plans are underway, but the stores will be different. The ones in New York, Tokyo and Los Angeles are extremely demanding and expensive. In Europe, they will be just as interesting but less costly. We may also open one in Beijing.”

How is the market in general? Are you still expanding? And what about China?

“For special projects, I have created some caftans that allude to Prada’s traditional style. They have all been bought by a sheikh who is creating a very trendy fashion retail outlet.

“As for China, it is the market everyone believes will perform better than any other. The Chinese are extremely curious and have a different spirit from the Japanese, who are more puritanical. The Chinese spend freely and have a great passion for objects and clothing.”

And they love counterfeiting …

“Because it is the only way they have to gain access to these products. But they have a tremendous desire to become consumers. For a few months, we will be showing a series of films about China on the screens in our New York store.”

Where is Prada heading creatively?

“What I feel is necessary is a return to beauty, but not out of nostalgia. It is the beauty that comes after ugliness and trashiness.”

Are you imagining a more feminine woman?

“I am speaking primarily about aesthetics. When people talk about beauty, they usually think of Dior haute couture. But then the world moved toward blue jeans and a dirty T-shirt. Now we want to restore a sense of dignity and revive an appreciation for quality.

“I am working on fabrics made on looms that nobody operates anymore.”

So you are talking about tailoring?

“That, too. It means working with fabrics that are no longer produced and using beautiful, specific materials to create clothes people can actually wear. I am also interested in rediscovering techniques that most people no longer know about. This is a heritage we should not abandon.

“I have worked extensively within European culture. Perhaps today that is no longer enough.”

Prada has also pursued elegance through sailing boats.

“Sometimes the elegance of a hull does not coincide with a boat’s speed. When it comes to boats, beauty does not always hold the key.”

Contemporary art is another of your passions. Seven years ago, you and your husband established a foundation that has become increasingly active.

“Until three or four years ago, my interest in art was primarily historical and cultural. We organized exhibitions featuring artists from the generation of the 1960s. More recently, we have worked closely with contemporary artists. With them, there are no texts, studies or catalogs to guide you. We have come to understand that the only way to get to know them is to become familiar with their work and cultivate the same interests.

“For me, this is a necessity in my personal life. It is something very real.”

Does contemporary art have anything in common with fashion?

“They share the same social curiosity and reflect the dramas, joys and pleasures of life as it is lived today.”

How do you see Italy?

“It is still a fantastic country, perhaps the best place in the world to live, with its art, beauty and quality of life. But it may lack curiosity about the present and engagement with what is happening elsewhere in the world — in film, art and architecture.

“There are isolated examples of extraordinary quality, but that quality is not reflected throughout the broader cultural environment.”

To use the language of economic policy, are you saying Italy lacks a national plan?

“Yes, that is probably the case. The best artists are always traveling the world, but in Italy you simply do not find an environment where writers, filmmakers and musicians can come together. A center of excellence has never been created.”

Where is that different?

“In London, in New York …”

And yet you insist on living in Milan.

“I don't know if I insist, but it is the house where I was born.”

Do roots matter?

“They matter enormously to me. The enormous complexity of countries is part of our roots and what keeps us balanced. Having roots is like having an anchor of reassurance, an almost practical tool that allows you to maintain your equilibrium.”

And family?

“That, too. The same old friends, family and home are all additional anchors that keep us safe.”

And the black suit?

“It has its own value, and it is very important, just like the blouse. These clothes provide reassurance. There is an endless, frantic search for novelty, a constant anxiety about trying to understand the complexity all around us. Exactly the same mechanism applies to clothing. Just as we need roots and family, we also need black suits and blue blouses.”

Prada's store windows also feature many traditional suitcases. Yet people no longer use old-fashioned travel accessories very much.

“If we are talking about fashion, a classic is also the fashion of today. It should be understood as a cultural privilege, and perhaps it is even necessary to own a beautiful leather suitcase.

“After all, Prada began in 1913 with leather goods and luxury items. That was our hallmark.”

Do you always work so much?

“I work at my own pace. I arrive at the office late in the morning. If necessary, I work a great deal; if not, I don't.”

Are you very involved with your children?

“I would say yes. Unless you mean computers, which I find interesting but really don't know much about.”

Do they frighten you?

“No, I am simply not capable — or rather, I haven't properly tried them out yet.”

So you draw all your designs by hand?

“I don't design in the conventional sense. I tell a story to my designers and assistants.”

You have created a new watch. Why just one model?

“It was one of my husband's initiatives: a limited edition to celebrate the America's Cup. It is enough to begin addressing the problem of timekeeping.”

Is fashion still so important today, or does it need to scale back? Is it in crisis?

“It is not in crisis. Fashion is one of the strongest obsessions among young people. It affects people almost agonizingly, as though it holds an exaggerated fascination. Fashion is tied to everything that has to do with physical appearance and health. It is part of the search for eternal youth, which holds us all in its spell.”