MILAN — Miu Miu plans to strengthen its structure in Paris by transferring “a number of its departments” in the French capital, said the Italian brand on Tuesday. Miu Miu’s industrial and commercial divisions will remain in Italy.
The goal is to expand its marketing personnel within its French subsidiary and thus consolidate Miu Miu’s ties with Paris, where the brand has shown since 2006. The agreement with the Conseil Économique, Social et Environnemental, whose headquarters, the Palais d’Iéna, has hosted Miu Miu’s runway shows since 2011, has the same purpose, said the company.
Parent company Prada SpA has been investing in building the Miu Miu brand and emphasizing its identity, increasingly differentiating it from the Prada label.
At the end of last month, the group signed a deal with Coty Inc. to produce Miu Miu prestige fragrances. A Miu Miu fragrance is slated to make its debut in 2015. Puig Beauty & Fashion Group continues to hold the license for Prada-branded fragrances and skin care, further distinguishing the two labels.
In the first six months of Prada SpA’s financial year ended July 31, Miu Miu sales reached 255.9 million euros, or $332.6 million at average exchange, up 4.1 percent compared with the same period the previous year. Miu Miu currently counts 133 directly operated stores.