Anbang was established in 2004 as an automotive and property insurer by Chairman Wu Xiaohui, a native of China's entrepreneurial coastal city Wenzhou. The company has been leveraging its 1.65 trillion yuan ($253 billion) in assets to transform into a worldwide investor.
In October 2014, Anbang agreed to pay $1.95 billion for the Waldorf Astoria Hotel in New York, a move Wu said brought the insurer "extra brand recognition" and business opportunities. Earlier this month, Anbang agreed to pay Blackstone Group LP ion for Strategic Hotels & Resorts Inc, whose 16 luxury properties include the Four Seasons Washington D.C.
These were clothes created with modern techniques, but infused with centuries-old tradition. Designer Lydia Lavín, for example, worked with artisans from the Huichol community, an indigenous group from Mexico's Sierra Madre Occidental mountain range, to create gowns adorned with embroidery and beadwork.