THE BRAND

Described as “An outpost for the most refined femininity, a tangible expression of the energy conveyed by women’s natural contradictions and provocative personalities to contemporary society” (Prada, 2022), Miu Miu is the work of Miucci Prada, youngest granddaughter of Mario Prada. Drawing inspiration from sensual, provocative and avant-garde clothing, it was coined “Prada’s Naughty Little Sister” by the media during its surge of popularity in 2006. The brand focuses on “transforming fashion into a mental state” (Prada, 2022) to create “far from traditional aesthetic imagery” (Prada, 2022) to convey “the essence of an emancipated and conscious woman… and it illustrates the most rebellious and seductive core of contemporary femininity”. (Prada, 2022) Miu Miu has quickly become a cult favourite, with their Instagram amassing almost 10 million followers, and an array of celebrity endorsements from the likes of Kylie Jenner, Ariana Grande and Hailey Bieber.

Currently, Miu Miu is exceeding expectations, consistently going viral on social media, and recently being named Brand of the Year 2022 by Lyst. The Miu Miu hashtag has 1.1 billion views, and searches for Miu Miu on Lyst increased by 49% in 2022 (Pauly, 2022). Potential room for improvements could be to fully cement itself as a core fashion brand, as the brand is often compared to its sister company, Prada.

In 2016, The Prada group declared that their profit drop of 27% was due to terrorism and terrorist a acks (Zillman, 2016). A acks in Europe meant that a lot of people were nervous to shop in big cities, and 72% of luxury consumers would rather shop instore than online (Charlton, no date.). This remains an issue for Miu Miu still as the terror threat in Europe remains substantial, with 1004 people arrested for terrorist offences in the EU in 2019 (Armstrong, 2019).

EEconomic factors can majorly effect Miu Miu’s sales. Miu Miu sales decreased by €120 million in the financial year 2020, compared to 2019 (Prada, 2022). This was due to the COVID-19 pandemic and to money to shareholders for the resumption of dividend payments. However, sales for 2021 were up to €401m, a big increase from 2020’s figure of €329m (Prada, 2022). This has a possibility to decrease again due to the cost-of-living crisis we are seeing a er the pandemic.