Miu Miu Is Betting on Beauty in a Big Way
On Friday, Prada S.p.A and L'Oréal Groupe announced their latest exclusive long-term licensing agreement, welcoming Miu Miu to the L'Oréal Luxe division for a new beauty era.
Per the agreement, L'Oréal Groupe will create, develop and distribute all luxury beauty products for the Miu Miu brand. (L'Oréal Luxe also encompasses Prada Beauty, which introduced color cosmetics and skin care last year.) The first Miu Miu fragrances under L'Oréal Groupe are expected to launch in 2025.
"We are excited to announce this partnership with a distinctive and leading beauty player such as L'Oréal," Benedetta Petruzzo, Miu Miu CEO, said in a statement. "This new chapter will sustain the brand's growth and help to further untap Miu Miu's full potential in the category."
Cyril Chapuy, President of L'Oréal Luxe, added: "Over the past years, we have successfully established a very strong partnership with Prada teams. We are now thrilled to welcome Miu Miu and unleash together its outstanding potential in beauty. With its unique positioning, fueled by limitless creativity and experimentation, Miu Miu will perfectly complement L'Oréal Luxe’s portfolio of iconic brands and reinforce our worldwide leadership in Fragrances."
Previously, Miu Miu's beauty license agreement was held by Coty Inc., which was first signed in 2013. Before that, Prada Group was locked in a licensing deal with Puig in 2003. In 2019, L’Oréal took the reins and officially signed a beauty license with Prada — now expanding its beauty portfolio with the addition of Miu Miu.
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