CONTEXTUAL ANALYSIS

PESTLE & SWOT

SSocial impacts on Miu Miu can come down to Gen Z, which makes up most of the brands target audience. Gen Z are less concerned with brand loyalty and would rather get a be er deal from fast fashion options. A Vogue Business 2022 survey revealed more than half of Gen Z reported buying their clothing from fast fashion brands (Kale, 2021).

Strengths Weaknesses

- Miu Miu has a very loyal fanbase due to the brands high quality items and garments.

- Respectable brand due to its ties to Prada.

TTechnological advancements, especially social media, have boosted Miu Miu’s popularity massively. Miu Miu use influencers to appeal to their target audience, much like they did with celebrities in the 90’s. 52% of Gen Z trusts influencers for product or brand advice, and 76% of Gen Z follow an influencer on social media (Morgan, 2020). One of Olivia Neill’s Instagram posts wearing gi ed Miu Miu to an event has gained 240,000 likes (Neill, 2022).

LCounterfit goods are a legal issue Miu Miu must deal with. As well as accurate replicas, the rise of fast fashion brands creating “dupes” or similar products has become increasingly more popular. Fashion Nova have famously duped Miu Miu’s viral mini skirt, gaining thousands of retweets on Twi er. However, High Snobiety said “Miu Miu won't suffer from the fakes that flood the market” (Northman, 2022), due to their high revenues and celebrity endorsements.

To combat environmental and sustainability factors, Miu Miu launched Upcycled by Miu Miu in 2020, where the brand reworks garments from different vintage markets. The Prada group also have 3 main sustainability pillars: planet, people, and culture. This has helped reduced greenhouse gases, create a focus on raw material traceability and improve social and environmental factors along the supply chain thanks to close collaboration with suppliers. (Prada, 2022).

- Many celebrity endorsements (Ariana Grande, Amanda Seyfried, Kate Moss, etc.)

- The brand’s exclusivity and price point may not be accessible to all of Gen Z.

- Only 5 stores in the UK (4 of which are in London).

- PR scandals surrounding the brand and its sister brand, Prada has damaged brand image.

- Room to expand open more physical stores.

- Opportunity to focus more on TikTok, as their account is used only to post ads - meaning they get over 1 million views on TikTok, but only 1000 likes.

Over 60% of TikTok users are Gen Z (Forbes, 2021), Miu Miu’s target consumer.

- Fast fashion companies creating replica products.

- Newer Generation less concerned about brand loyalty and more concerned with ge ing a be er deal. Only 37% of Gen Z appear in the loyalist catergory, compared to 56% of Boomers (Forbes, 2022).

- Ever-changing fashion world.