Prada is all set to mark its presence in China with a sister-brand named Miu Miu. With an initial public offering of 16.7 billion Hong Kong dollars (US$2.15 billion) in June, the brand was launched in “a dinner runway show” in Shanghai that saw European, Russian, and Chinese models strutting in Miu Miu’s fall and winter 2011/2012 collection. The audience comprises Hong Kong stars, like actress Cecilia Cheung and pop singer Sammi Cheng, with the menu card, including the lobster tail.
The brand original setup in 1993 by Prada designer Miuccia Prada targets China’s young luxury fashion lovers, who like their wardrobes with frilly lace and shimmering sequins. Considering its popularity in the region, Prada plans to launch 55 outlets by 2014, with the current number of outlets positioned at 27. There are four stores on China’s mainland, seven in Hong Kong and two in Taiwan.