MIU MIU is set to launch its first fragrance in 2015, announcing today that Prada SA has signed a deal with beauty conglomerate Coty Inc for a line of signature fragrances under the Miu Miu name. With Balenciaga, Bottega Veneta and Marc Jacobs's fragrances all currently in its portfolio, Coty is well versed in translating fashion houses' DNA into their scent offerings.
"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 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 designer Miuccia Prada has already launched several fragrances within the Prada brand, but this is the first time that Miu Miu has expanded outside the fashion and accessories markets.
"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."