Prada Spotlights Miu Miu by Multiplying Stores
Every brand reassess their strategy come March, and Prada’s move to expand the number of stores under the parent brand and label Miu Miu seems to have come at just the right time.
While the label retails at multi-brand stores world over, it is their standalones that give them better earnings (no revenue sharing), says Dow Jones.
With increased visibility and higher revenues in mind, Prada’s five-year-plan is to multiply its stores from 61 to 150 (in the US alone); Women take note!
And considering their label Miu Miu raked in 17 per cent of their total earnings in the year that was (second only to the parent label), Prada intends to double the number of Miu Miu stores world over—to be done within the next five years as well.
From 126 to 250, this aggressive strategy is also aimed at generating brand awareness for Miu Miu, independent of its association with Prada.