Cover News Reporter Yao Ruipeng
Recently, a hairpin of 3,250 yuan, a glasses rope of 4,750 yuan, and a sequined underwear of 42,200 yuan...... The luxury brand Miu Miu has attracted people's attention with its ultra-high "gold content". On May 1, the person in charge of a card issuing factory in Yiwu told reporters that the orders for imitation MiuMiu card issuance continued to increase, and the online shopping platform for 26 yuan a card also ushered in a sales increase.
More than one million orders have been sold
MiuMiu was originally just a diffusion brand of the Prada Group, but in the first quarter of 2024, sales soared by 89%, leaving LV and Gucci behind, and is this "speed rush" just a flash in the pan?
MiuMiu 3千元发卡卖断货
The sales of 26 yuan imitations on the online shopping side increased
A hairpin costs more than 3,000 yuan, which has become a shocking thing for many people, but the hairpin priced at 3250 yuan in the Miu Miu Taobao flagship store has been sold out, and only store members can buy it. The staff of Miu Miu's Taobao flagship store responded that it will still be replenished from time to time, and will be notified when the new replenishment is launched, and said that MiuMiu is very popular now, and the volume of goods is estimated to be in short supply for a long time.
MiuMiu sales page
On other online shopping platforms, the reporter found that Miu Miu imitations ranging from more than 20 yuan to several hundred yuan began to sell well. "The popularity of MiuMiu has been relatively large since last year, its card issuance workmanship is not complicated, the OEM is not difficult, and the finished product effect is relatively good. The reporter contacted a Yiwu foundry factory, and its person in charge said that his factory can reach about 60,000 orders per day, and the number of orders on the online shopping platform is currently increasing. On the consumer side, a number of online stores told reporters that the sales of related goods have risen sharply in recent days. The reporter also saw an interesting story shared by consumers on a social platform, Ms. Zhang from Hunan Province bought the original MiuMiu online and then placed an order for the imitation in order to shoot a comparison video.
"真假MiuMiu"
Not only the hairpin, Miu Miu's glasses rope is priced at 4,750 yuan per piece, and the price of an "embroidered silk and wool underwear" is as high as 42,200 yuan, which has also aroused heated discussions on the whole network. The popularity of MIU clothing is also high, with more than 670,000 notes searching for MiuMiu alone, as well as a number of derivative entries such as "MiuMiu girl" and "MiuMiu bag, shoes, socks".
Sales soared 89% in the first quarter
Helped the parent company Prada to grow its performance
In 2024, the world's biggest luxury brands seem to be cooling. In the first quarter of this year, the performance of LVMH, the parent company of LV, and Kering, the parent company of Gucci, both declined, but Miu Miu, a smaller brand in the fashion circle, bucked the trend and boosted the performance growth of the parent company Prada Group.
On April 25, Prada Group disclosed its financial results for the first quarter of 2024. According to the financial report, in the three months ended March 31, Prada Group's operating income increased by 16.5% year-on-year to 1.187 billion euros, exceeding market expectations. Prada, the main brand, saw sales increase by 7% year-on-year to 826 million euros, while Miu Miu sales increased by 89% to 233 million euros. As the most outstanding segment of the Prada Group, Miu Miu's sales soared by 89% year-on-year, making luxury brands such as LV and Gucci jealous.
The Asia-Pacific region, including the Chinese market, is the largest contributor to the Prada Group's revenue. In the first quarter of the year, sales in the Asia-Pacific region increased by 16 percent year-on-year to 376 million euros, making it the largest market for the Prada Group, accounting for 37 percent of sales, Europe with 259 million euros, up 18 percent year-on-year, the Americas with sales of 181 million euros, up 5 percent year-on-year, and Japan with the fastest growth rate with sales up 46 percent to 145 million euros.
Can MiuMiu continue to soar?
"Those who wear Chanel are not necessarily rich, but those who wear Miu Miu are certainly not bad for money!" This sentence seems to have broken the key to MiuMiu's popularity, and now, Miu Miu seems to be grabbing the minds of young consumers with a "high-end" appearance.
"Miu Miu's success is based on two main factors, on the one hand, it relies on its youthful products for young people, and on the other hand, it relies on excellent event marketing planning. The former is the foundation, and the latter helps the brand image to improve rapidly. Zhang Yingjie, a luxury brand marketing expert, said that Miu Miu's ultra-high price strategy on individual categories and products has successfully attracted attention, gained traffic, and improved the brand image. The price tag of MiuMiu makes consumers' cognition have a tendency to converge, coupled with the influence of trend stars such as Zhang Yuanying and circle culture, MiuMiu may have become an "identity label".
"It's hard to assess, as small brands like Chloé, Givenchy or Celine have risen to fame and then declined, and their short-lived success may serve as a lesson for MiuMiu. Zhang Yingjie said. Also in the Prada Group's earnings call on April 25, Prada Group CEO Andrea Guerra admitted that it is obviously unrealistic for Miu Miu to grow at such a high pace in the future, and the key to Miu Miu's future growth is to increase investment, focusing on the number and area of offline stores, so that Miu Miu has the right space. It will increase the store space for Miu Miu and open a net 10-15 stores.
[If you have news clues, please report to us, once adopted, there will be a fee.] WeChat attention: ihxdsb, QQ: 3386405712]