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Coty, Prada Partner for a Miu Miu Fragrance Deal
Posted: October 30, 2013
Coty and Prada Group announced the formation of an exclusive partnership to create, develop and distribute a signature line of fragrances under the Miu Miu name. Following its successful results as a luxury fashion brand, the partnership marks Miu Miu’s first entrée into the world of prestige fragrances.
Created in 1993, Miu Miu—the other vision of Miuccia Prada on fashion—is a brand with a strong personality, provocative and sensual as well as free-spirited and avant garde. During the years, Miu Miu 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.
Coty has a proven reputation for faithfully translating the core values of highly selective and sophisticated designer brands into successful fragrance businesses while maintaining great respect for the brands’ DNA and the utmost attention to quality.
“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 of 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 of 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.