L'Oréal Luxe has signed a licensing agreement with Prada, the owner of Miu Miu, to develop new beauty products together.
Miu Miu has followed in the footsteps of its parent company, Prada, which also signed a long-term global licensing agreement that includes the creation, development and distribution of luxury beauty products. It was in 2019 that L'Oréal managed to license the brand, which until then, belonged to the Catalan group Puig.
This agreement between Miu Miu and L'Oreal aims to create and offer consumers an exclusive range of luxury beauty products to be launched in 2025. Cyril Chapuy, President of L'Oréal Luxe explained that this is a splendid opportunity to boost the beauty sector from Miu Miu: "In recent years, we have successfully established a very strong partnership with the Prada teams. Now, we are delighted to welcome Miu Miu and unlock together its extraordinary beauty potential.
Miu Miu's CEO, notes that this new chapter for the brand will help unlock Miu Miu's potential in the beauty category.
The agreement has not yet entered into force as it is still under review by the relevant authorities.