Miu Miu sales were considerably up during the first quarter of 2024. Year-to-year, the family-owned brand’s sales rose by 89%, Prada Group announced on Wednesday.
Founded by Miuccia Prada in 1993, Miu Miu has come a long way from its origin as Prada’s sister brand. After Raf Simons became the co-creative director of Prada in 2020, Miuccia was freed up to focus more on Miu Miu. In a 2022 interview, she described Prada as the “most serious part of [herself],” whereas Miu Miu could be considered her “playground.”
Miuccia’s vision of collegiate-inspired looks and pleated miniskirts has certainly resonated with consumers. The recent 89% jump in sales follows the previous year’s 58% increase, illustrating explosive growth for the label.
Miu Miu’s boom has naturally been beneficial for Prada Group as a whole. The Group reported a 16% increase in net revenues and 7% growth in retail sales year-to-year.
“Over the first quarter, we delivered a solid performance in a more challenging market environment," Prada Group chairman Patrizio Bertelli said in a statement.
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