Coty has extended its licensing of famous fashion brands, and has added Miu Miu, after an arrangement with the Prada Group.
Coty will develop and distribute a line of fragrances under the Miu Miu name, expected on shelves in 2015. It will be the brand’s first entry into the prestige fragrance market.
Miu Miu, which celebrates its 21st anniversary next year, was created by Miuccia Prada and takes its name from her nickname.
The Coty announcement says that Miu Miu ‘has evolved into one of the leading high-fashion brands in the world, targeting sophisticated women, receptive to new trends and ideas and inspired to explore and experiment in their fashion choices.’
‘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. ‘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.’