Beauty companies Coty and Prada have announced an exclusive partnership to develop a new line of fragrances under the Miu Miu high fashion label.
The fragrance line will be the brand’s first foray into the world of perfume. Miu Miu is a luxury line which is said to embody “style and sensuality,”
Patrizio Bertelli, the CEO of Prada Group, commented: “The agreement with Coty, an internationally recognized reference in the luxury fragrance market, marks a major step forwards in Miu Miu’s development plan.”
“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 the mutual satisfaction to both companies.”
Coty said that the agreement would allow it to build its market share in the prestige fragrance market.