Coty Inc. and the Prada Group have signed a deal to produce prestige fragrances under the Miu Miu label, which is a first for the young and hyper-fashiony Italian brand.
This news confirms a previous report in WWD that Coty and Prada were in talks concerning Miu Miu. This is the Prada Group’s second fragrance relationship. The first, signed in 2003, is with the Puig Beauty & Fashion Group, which continues to hold the license for Prada-branded fragrances and skin care.
Patrizio Bertelli, chief executive officer of Prada Group, said he chose Coty as a partner to produce Miu Miu fragrances because “Coty is a benchmark company in the luxury fragrance industry, with its commitment to exceptionally high product quality, which for us was a fundamental requisite. It is also above all the ideal partner for interpreting the spirit of Miu Miu.” He stated that one of his objectives was to emphasize the brand’s strong identity. He added that Miu Miu and Prada have always been developed separately, sharing only the group’s overarching values like innovation and quality.
The first Miu Miu fragrance is slated to make its debut in 2015. Bertelli said he envisions the creative process unfolding under the guidance of his wife Miuccia Prada, the house designer, with the product production and distribution being “leveraged” by Coty.
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Michele Scannavini, ceo of Coty, said in a separate interview, “It’s not by chance that we chose the word partnership instead of license.” As with its other partners, “we wanted to establish a very tight relationship to understand deeply the DNA of the brand and to make us able to translate this DNA into a bottle and product. We are obviously going to try to do our best to follow the inspiration and the vision of Miuccia into a product of the utmost quality.” Scannavini added, “I am very confident that we are going to establish a very fruitful relationship with them.”
When asked how he sees the Prada and Miu Miu fragrance franchises coexisting, Bertelli replied, “Both brands embody their own style, a spirit and an attitude which are expressed consistently with their respective identities in their collections.”
He predicted that “Miu Miu’s fragrance will embody the brand’s spirit and DNA through a style that is not only sophisticated and sensual, but also cutting-edge and trendsetting.”
Miu Miu will join Coty’s powerful stable of fashion brands, led by Calvin Klein, Marc Jacobs, Balenciaga, Bottega Veneta and Chloé. Scannavini said of the Miu Miu partnership, “It is one of the fastest-growing brands in the fashion industry. It is global; it has a very strong personality, and it is one of the few brands of this caliber that doesn’t have a fragrance extension.” In addition, “for sure, it will help our share and penetration in the top specialty stores.” He added that Miu Miu appeals to “the young, sophisticated and edgy customers,” and therefore “it is going to be an addition to our portfolio.”