Miu Miu was created in 1993 by Italian fashion designer and businesswoman, Miuccia Prada. Since then this unique luxury brand has been the incarnation of experimental creativity in fashion. It will eventually end its partnership with Coty. The brands will launch their first scent in 2025. Its most recent perfume, Fleur de Lait, released last year. Both luxury brands are all set to unleash together their outstanding potential in the beauty space.
L’Oréal Groupe and Prada S.p.A have officially signed a worldwide long-term licence agreement for the creation, development, and distribution of the luxury beauty products for the Italian brand. Furthermore, Prada Group has been in the beauty business for over two decades. This deal furthers the fashion brand’s presence in beauty.
An Overview
This collaboration involves the Italian beauty brand joining the L’Oréal Luxe division that includes the Prada licence. The agreement will be effective after customary regulatory approvals, if any.
The move also expands on L’Oréal’s pre-existing licensing agreement with owner Prada, which most recently launched a collection of skincare and makeup.
“We are excited to announce this partnership with a distinctive and leading beauty player such as L’Oréal. As a result, this new chapter will sustain the brand’s growth and help untap both brands’ full potential in the category,” said Benedetta Petruzzo, the company’s CEO.
Cyril Chapuy, president of L’Oréal Luxe added, “Over the past years, we have successfully established a very strong partnership with Prada. We are now thrilled to welcome Miu Miu and unleash together its outstanding potential in beauty.
With its unique positioning, fuelled by limitless creativity and experimentation, the beauty mogul will perfectly complement L’Oréal Luxe’s portfolio of iconic brands. In addition it will also reinforce our worldwide leadership in fragrances.”
The L’Oréal Group called this venture “a new beauty chapter”.