Those who are aware of Miu Miu’s celebrity alignment in Asia, the brand’s largest market, may not be surprised by the brand’s explosive revenue growth.
Retail sales at Miu Miu increased by 89% in the first quarter of 2024, which improved the Prada Group’s performance. The company’s overall sales increased by 11% to 1.18 billion euros.
Asia-Pacific, which comprises South Korea and China, had a 10% increase in revenue to 396 million euros for the entire company. Japan saw a 29% increase in sales to 145 million euros. Sales in Japan increased by 46% when exchange rates remained unchanged.
Because of “a slew of viral products, celebrity-packed runway moments, hyped collaborations with New Balance and Church’s, and buzzy campaigns starring ‘It’ girl after ‘It’ girl, from Emma Corrin and Kendall Jenner to Gigi Hadid and Ethel Cain,” Miu Miu has been named the hottest brand in Lyst’s quarterly ranking multiple times, according to Lyst.
The firm has enlisted a network of well-known celebrities as brand ambassadors in Asia to help luxury buyers in the area who may not be familiar with Corrin or Cain translate Miuccia Prada’s avant-garde runway concepts into real-world situations.
The brand regularly outfits both well-known stars like Dong Jie and Kara Wai as well as up-and-coming stars like Lexie Liu, Zhao Jinmai, and Qiu Tian in China.
Miu Miu Fashion Brand
For the brand’s fall 2024 show, it even invited Qin Huilan, a doctor-turned-Prada superfan to walk for the brand alongside Hadid and Kristin Scott Thomas.
However, Momo Hirai, a Japanese member of the girl duo Twice, serves as the brand ambassador for the company in South Korea, where it capitalizes on the worldwide appeal of K-pop. On Instagram, she has 14.65 million followers.
The members of girl groups (G)I-dle, which includes the Thai-born Nicha Yontararak, popularly known as Minnie, and IVE, which includes the Chinese-born Wonyoung Jang, are also Miu Miu brand ambassadors.
Their fame extends well beyond South Korea’s borders. Minnie’s appeal in Southeast Asia and Momo’s clout in Japan enable Miu Miu to penetrate these markets.
Jong has established a sizable internet fan base in China as well, with over 12 million Instagram followers.
Before the year ended, Luca Solca of Bernstein observed that Miu Miu had quickly become well-known in China’s social media boxing arena, “notably excelling on user-generated platforms such as Xiaohongshu and WeChat.”
More than Lisa, Jisoo, and Rosé of Blackpink, Jang’s name has been spoken over 3 billion times on China’s most popular social commerce platform, Xiaohongshu. Jang has less mentions than just Jennie.
Douyin, the Chinese counterpart of TikTok, saw the viralization of a video featuring Jang twirling during a performance—not in a Miu Miu. As a result, last week saw the official account of her girl group, IVE, being opened on the platform.
