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To accomplish that they have embarked in an exclusive collaboration with beauty giant Coty Inc., famous for their extensive fragrance portfolio and their technical and resources input in collaborating with various designers and celebrities bringing out their own fragrances. The Miu Miu collaboration will be conducted under the aegis of Coty Prestige, nevertheless, who overlook the upper echelon of their business.
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| Lindsay Lohan for Miu Miu via |
"The agreement with Coty, an internationally recognised reference in the luxury fragrance market, marks a major step forward in Miu Miu's development plan," said Patrizio Bertelli, CEO, Prada Group, according to Cosmetics Business. "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."
According to Bloomberg " The 20-year-old fashion and accessories label, named after Prada Chairman Miuccia Prada, had sales of 512.8 million euros ($706 million) in the year ended Jan. 31, or 16 percent of total company revenue. The deal with Coty would allow Prada to expand its second-largest unit in the $60 billion luxury beauty industry."
Michele Scannavini, CEO, Coty, added: "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. 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 be introduced in 2015, the Milan-based company said yesterday in a statement.
Well, I'm likely to pass on these. I absolutely loathe the Miu Mui fashion ads, with those freaky looking models and the ghastly shoes. They call to mind Christian Dior's remark that too-high shoes look vulgar. Very true. Or maybe I'm just getting old. Still, whenever I see a young woman in shoes like that I just want to laugh.
ReplyDeleteHeya,
ReplyDeleteThis is pretty exciting. I wonder how outrageous they will make the scents. Given their fashion being quirky and off center I hope they follow through with the frags, fingers crossed but won't be surprised if it's only more of the same either.
Portia xx
I'm getting confused on who does what. I think regular Prada is distributed by Puig?
ReplyDeleteIn any case, it will be interesting to see where they position themselves. The Prada brand perfumes are distributed pretty widely, it's hard to think about an even wider distribution (Walmart?).
cacio
AMC,
ReplyDeletethis (yours) is a clear case of the marketing chosen (the promo part specifically, but the product too, from what I gather) does not appeal and there is no connection to the brand. But then not everyone is supposed to like them anyway.
It'd be interesting to see what they do, though, even for argument's sake. I rather like the work done on the Prada perfumes. It all depends, therefore. :-)
Portia,
ReplyDeletehi there!
My thoughts exactly! I hope they do something off kilter, but don't hold my breath either. The choice of company is interesting in that it differs from the regular Prada brand. We'll see I guess!!
M,
ReplyDeleteyou are correct. There is no confusion though. Prada is distributed and managed by Puig (therefore it's the same outsourcing as for Paco Rabanne, CDG or Carolina Herrera), while Miu Miu will be made & distributed by Coty Prestige (same as with Vera Wang or Cerutti or Lancaster for instance)
In a way it's a step up because Coty is the 2nd largest perfume provider globally, if not 1st (maybe that's Unilever, I'm not 100% certain).
I'm not a fan of the Miu-Miu brand in general...but I've been more than greatly impressed by Prada fragrances (I do love their Iris Infusions in all forms etc...) though I don't appreciate their fashion very much...So let's hope it will be a good surprise too, Coty being a synonym for quality...let's wait and see:-)
ReplyDeleteEleonore,
ReplyDeleteas you say the Prada fragrances have something to recommend them (some more than others, as with any line). In what regards the fashions vs. the perfumes, I believe the more outrageous the fashions the better the promise of an unconventional perfume, at least in terms of expectations, if not fulfillment. So I'm keeping my fingers crossed.
Funny, to the average American, Coty has lost lots of the original cachet due to the drugstore ubiquitous presence (the US drugstore is distinctly different from the European chemist's). But they do have a very extensive network of creative powers which might yield good results, if let to.
Of course,Elena, I had forgotten that Coty is not so "haute parfumerie" as in the old days ...as we don't find Coty any more in France, we don't imagine that it's rather average in the USA..where you can find it in drugstores...Here the name Coty has still the old fashioned charm of good things of the past our grandmothers loved so much!!! :-)
ReplyDeleteEleonore,
ReplyDeleteexactly as you say. To a Greek woman, Coty is a name in history as well. He did launch modern perfumery as we know it today. To be admired and appreciated for that.
Merci beaucoup de ta réponse! :-)