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‘World’s hottest brand’: how Miu Miu defied sales plunge in fashion industry
As luxury firms struggle worldwide, the ‘knowingly cool’ label is posting record-breaking sales figures
Many of the biggest fashion houses are between designers, and even super-conglomerate LVMH – which includes Dior, Fendi, Louis Vuitton and most of the drinks brands in your cocktail cabinet – lost a fifth of its profits last year. In 1992, around 14 years after she started working for her family’s business, Mrs Prada – as she’s known in the industry – launched a cheaper womenswear subsidiary inspired by the sort of clothes (cardigans, skirts, wearable shoes) she wanted for her own wardrobe. Last year’s Summer Reads event – when the brand gave away feminist books for free at news stands around the world – was another viral success story.
Or read this on The Guardian
