For the new entrants, like Tod's Diego Della Valle and Miuccia Prada, splashy generosity may be especially effective as a savvy marketing strategy.

WSJ: The Fashion Set Saves Italy

Along with Austrian designer Helmut Lang and Italian designer Miuccia Prada, she became part of a triumvirate that championed the minimalist movement in fashion.

WSJ: Fashion Designer Jil Sander Makes a Comeback

Then, in 1999, out of the blue, in a move that stunned the fashion industry, Sander sold 75 percent of her company to Patrizio Bertelli, CEO of Prada and husband of designer Miuccia Prada.

WSJ: Fashion Designer Jil Sander Makes a Comeback

To that end, she sought out a collaborator in designer Miuccia Prada, who contributed 40 looks from the archives of her Prada and Miu Miu labels, including the crystal-beaded dress that leading lady Daisy Buchanan (Carey Mulligan) wears in the final party scene.

WSJ: 20 Odd Questions With Catherine Martin

But even if it hadn't originally been part of Bertelli's grand plan to eliminate his wife's two biggest competitors, the departure of both Lang and Sander from the fashion conversation allowed Miuccia Prada to effectively become the Catherine de Medici of luxury minimalism.

WSJ: Fashion Designer Jil Sander Makes a Comeback