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MIU MIU Going It Alone
Miu Miu, led by Miuccia Prada and Patrizio Bertelli, is moving its main office to Paris to gain independence from Prada and double its sales.
2014 is turning out to be rather eventful for Miu Miu. The company, led by Miuccia Prada and Patrizio Bertelli, has kicked off this year with big changes in order to grow as an independent firm.
For starters, Miu Miu’s headquarters will move from Milan to Paris in order to strengthen the its ties to the French capital (where each season’s collections are presented), double its sales and leave behind cud the cord with Prada.
For now, the departments making the move to number 18 Rue Matignon are marketing, sales and communication. The creative department will still be located in the company’s former premises in Milan.
With these changes the Prada group is aiming to turn Miu Miu into an independent luxury firm. Patrizio Bertelli want to accelerate brand development and to double sales in the short term, so he has undertaken an expansion of its distribution network, as well as stepping into the perfume market with US-based Coty.
Miu Miu and its 133 stores worldwide —including one in Passeig de Gràcia— recorded sales of 255.9 million euros in the first two quarters of 2013, a 4% year-over-year increase in profits.
