While profits are falling across the luxury fashion industry, Miu Miu is defying the trend, posting record-breaking sales figures. In an industry worth almost £1.5tn, fashion is facing a challenging time. Many of the biggest fashion houses are between designers, and even major conglomerates have reported significant losses. However, Miu Miu has nearly doubled its profits, reaching close to £1bn in sales and securing the title of “hottest brand in the world” for the second consecutive year. Retail sales have surged by 93%.
Miu Miu is owned by the Prada Group, a conglomerate overseen by Miuccia Prada. The label was launched in 1992 as a more affordable subsidiary inspired by the designer’s personal style. Over the years, it has maintained a reputation for being cooler and slightly more accessible than other luxury brands. However, its recent success is attributed to more than just the clothes. The brand has mastered the art of creating viral trends through runway shows, models, campaigns, and a deep understanding of what resonates culturally.
Miu Miu has introduced several iconic fashion moments in recent years, including a micro mini skirt with a raw hem that became so popular it spawned its own Instagram account. Other notable pieces include satin ballet pumps that ignited a widespread trend, silk briefs designed to be worn without trousers, and even plasters on toes. Additionally, its handbags have become highly sought after on resale platforms.
Despite expressing opposition to trends, Miuccia Prada has an innate ability to start them. The brand’s ability to create “it” items generates significant search trends and social media engagement, which translate into both marketing success and increased sales.
Miu Miu’s appeal lies in its irreverence and unique styling. Many of its designs reflect a mishmash of references that resonate with what people already own, making it easy for consumers to replicate the look even if they can’t afford the brand. This approach sets Miu Miu apart, as it offers a sense of accessibility while maintaining exclusivity.
Fashion is as much about presentation as it is about the clothing itself. Many brands craft identities around archetypes to enhance their appeal. Miu Miu has successfully created a character that is both edgy and ageless, resonating with a broad audience. Its ability to select brand ambassadors at pivotal moments in their careers has further cemented its status. Over the years, the brand has featured figures such as Drew Barrymore, Lupita Nyong’o, Emma Corrin, Coco Gauff, and Sydney Sweeney. More recently, it has also included non-traditional models, such as actor Willem Dafoe, actress Kristin Scott Thomas, and a 70-year-old doctor from Shanghai.
The brand’s recent hiring of stylist Lotta Volkova, known for her unconventional model casting, reinforces its commitment to diversity and representation. By featuring real people, non-models, and men, Miu Miu challenges conventional beauty standards and broadens its appeal.
Beyond fashion, Miu Miu has successfully integrated itself into cultural conversations. The brand has collaborated with directors such as Miranda July and Chloë Sevigny for its Women’s Tales short film series. It has also launched the Miu Miu literary club, engaging audiences beyond the realm of fashion. Initiatives such as last year’s Summer Reads event, where feminist books were distributed for free at newsstands globally, further contributed to the brand’s cultural impact.
Timing also plays a crucial role in Miu Miu’s success. The brand closes Paris Fashion Week, ensuring that its shows leave a lasting impression. By combining innovative fashion with cultural engagement and strategic positioning, Miu Miu has successfully carved out a unique and enduring space within the luxury fashion industry.
