Coty Inc. and Prada Group have forged an exclusive partnership to create, develop and distribute a signature line of fragrances under the Miu Miu name. The deal marks Miu Miu’s first entree into the world of prestige fragrances.
Created in 1993, Miu Miu—the other vision of Miuccia Prada on fashion—has evolved into one of the leading high-fashion brands in the world, targeting sophisticated women, receptive to new trends and ideas and inspired to explore and experiment in their fashion choices.
“The agreement with Coty, an internationally recognized reference in the luxury fragrance market, marks a major step forward in Miu Miu’s development plan,” said Patrizio Bertelli, CEO, Prada Group. “I am therefore sure that, leveraging on Coty’s know-how and Miu Miu’s strong identity, this partnership will be a worldwide success of mutual satisfaction to both companies.”
“Miu Miu is one of the most refined and respected luxury houses in the world and one of the fastest growing global brands in the whole fashion industry,” said Michele Scannavini, CEO, Coty Inc. “It is an exciting opportunity for Coty to build a worldwide fragrance business for Miu Miu and also to further build our own market share in the prestige fragrance market.”
The Miu Miu fragrance line is expected to debut in 2015.
More info: www.coty.com