NEW YORK, Oct. 30, 2013 /PRNewswire/ -- Coty Inc. (NYSE:
COTY) and Prada Group (HKSE: Prada, 1913) announced today the
formation of an exclusive partnership to create, develop and
distribute a signature line of fragrances under the Miu Miu name.
Following its successful results as a luxury fashion brand, the
partnership marks Miu Miu's first entree into the world of prestige
fragrances.
Created in 1993, Miu Miu – the other vision of Miuccia Prada on
fashion – is a brand with a strong personality, provocative and
sensual as well as free-spirited and avant-garde. During the years,
Miu Miu has evolved into one of the leading high-fashion brands in
the world, targeting sophisticated women, receptive to new trends
and ideas and inspired to explore and experiment in their fashion
choices.
Coty has a proven reputation for faithfully translating the core
values of highly selective and sophisticated designer brands into
successful fragrance businesses while maintaining great respect for
the brands' DNA and the utmost attention to quality.
"The agreement with Coty, an internationally recognized
reference in the luxury fragrance market, marks a major step
forward in Miu Miu's development plan," said Patrizio Bertelli, CEO, Prada Group. "I am therefore sure that,
leveraging on Coty's know-how and Miu Miu's strong identity, this
partnership will be a worldwide success of mutual satisfaction to
both companies."
"Miu Miu is one of the most refined and respected luxury houses
in the world and one of the fastest growing global brands in the
whole fashion industry," said Michele Scannavini, CEO, Coty Inc. "It is an exciting opportunity for
Coty to build a worldwide fragrance business for Miu Miu and also
to further build our own market share in the prestige fragrance
market."
The Miu Miu fragrance line is expected to debut in 2015.
About Coty Inc.
Coty is a leading global beauty
company with net revenues of $4.6
billion for the fiscal year ended June 30, 2013. Founded in Paris in 1904, Coty is a pure play beauty
company with a portfolio of well-known fragrances, color cosmetics
and skin & body care products sold in over 130 countries and
territories. Coty's product offerings include such global brands as
Balenciaga, Bottega Veneta, Calvin
Klein, Chloe and Marc
Jacobs.
For additional information about Coty Inc., please visit
www.coty.com.
About Miu Miu
The Miu Miu brand, created in 1993, embodies style and sensuality.
It is sophisticated yet nonchalant. The Miu Miu style has a strong
identity, is creative and possesses an independent spirit. Miu
Miu is part of the Prada Group, one of the world leaders in the
luxury goods sector where it operates also with the Prada,
Church's and Car Shoe brands in the design, production
and distribution of luxury handbags, leather goods, footwear,
apparel and accessories. Its products are sold in 70 countries
worldwide through a network that included 491 directly operated
stores (DOS) as of July 31, 2013, and
a select network of luxury department stores, independent retailers
and franchise stores.
SOURCE Coty Inc.
