Miu Miu relocates headquarters to Paris
The moving boxes are packed. This Monday February 3, Miu Miu is moving to Paris, address 18 rue Matignon, the offices of the Prada Group's French subsidiary. The space just underwent a reorganization to accommodate the whole Miu Miu team, from sales and marketing to communications. The Paris office is now the new address of the ready-to-wear line of the Prada group, which is only leaving its design team back in Milan.
This important change marks a milestone in the growth of the label and confirms the Milan-based fashion group's commitment to transform Miu Miu into a completely separate luxury fashion house. Prada CEO Patrizio Bertelli essentially wants to accelerate the development of the brand and double its sales.
Miu Miu recently announced its entry into the perfume market in partnership with American group Coty Inc. The Italian label currently has a distribution network of some 133 directly-operated stores and recorded 255.9 million euros in sales over the first six months of 2013, ending July 31.
It is no coincidence that Miu Miu chose to set up shop in the French capital, where it has been showing its collections since 2006. Paris basically offers the ideal competitive environment for positioning the brand alongside the biggest names in French luxury. This move will certainly increase its visibility and allow it to have a truly international vision.
Miu Miu was launched in 1993 by Miuccia Prada as line with more creative freedom. The label’s new ad campaign targets "a sophisticated woman, one who is highly sensitive to new trends."
Miu Miu accelerated its international expansion in the past two years following the path blazed by Prada, the group's flagship label, whose retail network is now highly developed. Moving its headquarters to Paris is also a way for Miu Miu to differentiate itself even more from the Prada brand, an unusual decision for an Italian group, but certainly a visionary one. In any event, it is only a small team of twenty people who are transferring from Milan to Paris — a team that is slated to grow in the long term.
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