Prada S.p.A and L’Oréal Group have signed a worldwide long-term license deal for the creation, development, and distribution of luxury beauty products for the Miu Miu brand.
The move will see Miu Miu beauty joining the L’Oréal Luxe division that already includes the Prada license.
The first Miu Miu fragrances under L’Oréal are expected to be launched in 2025. The agreement will be effective after customary regulatory approvals, if any.
Cyril Chapuy, president of L'Oréal Luxe, said in a statement: “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, fuelled 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.”
Miu Miu’s chief executive Benedetta Petruzzo, added: “We are excited to announce this partnership with a distinctive and leading beauty player such as L’Oréal. This new chapter will sustain the brand’s growth and help to further untap Miu Miu’s full potential in the category.”