The grand precinct where Mario Prada opened his shop in 1913 remains important to the (very global) Prada. Recognising its centennial, today the brand cuts the ribbon on the first phase of a project that includes the renovation of an entire quadrant facing the original shop. The Prada Galleria will boast a flexible layout and sales space, a Fondazione Prada exhibition space, areas for events and the headquarters of the Prada group.

The mammoth project, a stone’s throw from the Duomo, the heart of this city, is a big commitment in restating the fashion house’s position in Milanese culture. If Mario Prada’s shop was the 1913 point of origin, in 2013 the Prada Galleria is a statement about both the changing fortunes of the parent company and the growth of fashion culture.

So far, so epic. But what does this mean right now? A standalone menswear store in which to gingham-ruffle yourself for AW13. Later will see the restoration of the site’s inner courtyard as well as a restaurant on the mezzanine. Given how Miuccia Prada is known for theming the adventurous canapés at her catwalk shows, we’ll look forward to a supper as smart as one of her suit jackets… amid a technologically innovative, historically preserved, multipurpose cultural landmark, of course.