The global cosmetics giant announced on Friday the signature of a worldwide long-term license agreement to create, develop, and distribute the luxury beauty products for the Italian brand Miu Miu.
Launched in 1993 by designer Miuccia Prada, Miu Miu belongs to the Milanese luxury group Prada, with which L’Oréal already collaborates in the fragrance and beauty sectors. Last year, Prada made a notable entry into the skincare and makeup categories with a range of refillable products developed by L’Oréal.
“Following the successful collaboration with Prada brand, Miu Miu is now joining the L’Oréal Luxe division for a new beauty chapter,” said L’Oréal in a statement.
The first fragrances under L’Oréal are expected to be launched in 2025.
“Over the past years, we have successfully established a very strong partnership with Prada teams. We are now thrilled to welcome Miu Miu and unleash together its outstanding potential in beauty. With its unique positioning, fueled by limitless creativity and experimentation, Miu Miu will perfectly complement L’Oréal Luxe’s portfolio of iconic brands and reinforce our worldwide leadership in Fragrances,” commented Cyril Chapuy, President of L’Oréal Luxe.
The financial terms of the agreement have not been revealed.