Model Peng Chang wearing a white coat standing outdoors by a curving road for the Waters of Wulai editorial.

Model Peng Chang in a red coat holding a red floral arrangement along a narrow paved road beside a steep green embankment.

Model Peng Chang standing on a stone plaza wearing a fitted top and skirt with traditional oriental buildings in the background.

Model Peng Chang seated in a patterned pink halter dress inside a room with green tiled flooring and a wooden side table

Model Peng Chang standing on a spiral staircase in a traditional pavilion for the Waters of Wulai editorial by Ina Levy.

Model Peng Chang wearing a white silk dress standing in front of a red pillar for Financial Times HTSI Magazine

Model Peng Chang standing on a river rock in a black one-piece swimsuit for HTSI Magazine

Model Peng Chang wearing a red dress standing on a stone bridge with pagodas during sunset for Financial Times HTSI Magazine

Model framed in an octagonal window wearing a textured dark dress against an ornate tiered architectural background.

Model Peng Chang standing outdoors wearing a long sleeve pink top and paneled skirt for Financial Times HTSI Magazine

Model Peng Chang wearing a red dress while submerged in a river for Financial Times HTSI Magazine Waters of Wulai editorial project

Model Peng Chang wearing a white top and black trousers standing in an architectural doorway for Financial Times HTSI Magazine

Model Peng Chang wearing a black cut-out dress standing in a doorway for HTSI Magazine

Model standing inside a wooden rowboat on a tranquil green river surrounded by dense forest under an overcast sky.

Financial Times - HTSI Magazine Waters of Wulai 2026

About

Waters of Wulai is a fashion editorial series commissioned by Financial Times HTSI Magazine, captured by photographer Ina Levy. The imagery places model Peng Chang within the traditional architecture and natural landscapes of Wulai, creating a dialogue between contemporary luxury silhouettes and historical settings. The project leans into an analogue, film-like aesthetic, utilizing natural light to emphasise the textures of the styling by Isabelle Kountoure. Through a series of observational portraits, the work shifts between lush, outdoor river settings and ornate, painted pavilions, often employing vertical framing to ground the subject against both architectural geometry and fluid water elements.