Sources Say Miu Miu’s New CEO Is Silvia Onofri
MILAN — Silvia Onofri is expected to be named chief executive officer of Miu Miu, according to market sources.
Onofri would succeed Benedetta Petruzzo, who joined Christian Dior Couture as managing director in October.
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Onofri hails from outerwear brand Napapijri, where she held the role of president. She was named to that post in February 2023, succeeding Massimo Ferrucci, after a 20-year career in fashion at luxury companies such as Bulgari and Bally. Napapijri is under the VF Corp. umbrella.
At Napapijri, Onofri named its first global creative director, Christopher Raeburn, the British designer known for his sustainable credentials as a recycling and upcycling fashion pioneer.
Onofri joined Bally in 2008 and was global travel retail trade marketing manager before being named in July 2018 CEO for the brand’s Europe, Middle East and Africa region. At the time, Frédéric de Narp was Bally’s CEO. She was tasked with overseeing brand operations in the region in addition to her role as vice president of global wholesale.
Miu Miu is experiencing phenomenal growth. In the nine months ended Sept. 30, the brand’s retail revenues soared 97 percent in the period to 854 million euros. Miu Miu accounts for 25 percent of parent Prada Group sales, and showed an acceleration in the third quarter as revenues in that period jumped 105 percent.
Commenting on the performance at the end of October, Prada Group CEO Andrea Guerra said that, after growing like-for-like for the past two to three years, the plan is to expand Miu Miu store space, especially in Europe. The Continent, he said, is “standing out” for the brand, where investments were channeled the most in the past 24 months, with a very positive response. “The U.S. is still smaller for Miu Miu, and we have begun to to invest properly in that market, but it will take time,” he said.
At the end of last month, Lyst confirmed Miu Miu remains in the top spot as it released its hottest brands ranking for the fourth quarter of 2024. In terms of most in-demand products, Lyst cited Miu Miu’s fleece jacket.
The brand has been successfully growing its leather goods category, with hits such as the Wander and Arcadie bags, and it has been expanding the range in the matelassé craftsmanship, where panels are doubled with wadding and elastic cloth, and then quilted.
While Miuccia Prada remains creative director of the brand, Miu Miu’s ready-to-wear design director Dario Vitale exited at the end of January, succeeded by Francesca Nicoletti, as reported.
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