Prada SpA and L’Oréal Group have signed a licensing agreement for the creation, development and distribution of luxury beauty products for the Miu Miu brand.
The Prada sister brand will join the L’Oréal Luxe division, the Italian fashion house announced on Friday. It is the second beauty deal between the Prada Group and the French cosmetics company. In December 2019, it was announced that Prada and L’Oréal had signed a cosmetics license.
“Over the past few years we have successfully built a very strong partnership with the Prada teams,” said Cyril Chapuy, President of L’Oréal Luxe. “We are delighted to welcome Miu Miu and together unleash its outstanding potential in beauty. With its unique positioning characterized by limitless creativity and experimentation, Miu Miu will perfectly complement L’Oréal Luxe’s portfolio of iconic brands and strengthen our global leadership in perfumery.”
The license for Miu Miu cosmetics was previously held by the US cosmetics company Coty Inc. The company signed a contract with the Prada Group in 2013 to produce prestige fragrances under the label.
The new licensing agreement with L’Oreal will “support the growth of the brand and help realize Miu Miu’s full potential in this category,” said Benedetta Petruzzo, Chief Executive Officer of Miu Miu.
The first Miu Miu fragrances under L’Oréal are expected to launch in 2025.