How did Miu Miu grow by 58 percent last year? CEO Benedetta Petruzzo breaks down the plan that has powered eye-popping acceleration in a slowing luxury market.
To understand the business momentum and aspirations of Prada‘s Miu Miu label, there’s no better place to start than the runway show it staged on the last day of Paris Fashion Week.
Designer Miuccia Prada sent out a lineup of wearable looks, referencing life’s many stages, from girlhood to adulthood, on a cast that included Gigi Hadid, 28, and Kristin Scott Thomas, 63.
Originally conceived as a youthful sibling to grown-up Prada, Miu Miu, which last week reported retail sales that were up 58 percent in 2023, has in recent years turned its little sister positioning on its head, opting for a new strategy that speaks to a broader church of customers.
“The point is you can choose what you wear,” Miuccia Prada said after the show. “I have to decide every morning if I am going to dress as I was as a 15-year-old girl or the lady I am today.”
The offering has become not only ageless, but increasingly genderless, too. Today’s Miu Miu aims to “speak to a universe of people,” said the brand’s chief executive Benedetta Petruzzo, herself a thirty-something, in Milan the day after Prada Group released its latest set of results.
Read the full story by Rachel Sanderson
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