Thursday, 14 July 2011

Miu Miu Lands In Sydney - Prada Sells Its Shares

Steinfeld in Miu Miu
Tomorrow is the opening of Miu Miu's first Sydney flagship store which will be located in the upgraded Westfield shopping plaza. With a Miu Miu store already in Chadstone, Melbourne it was only a matter of time before they opened a store in Sydney. Prada will also be relocating to Westfield to join its sister store. 

With Prada recently floating 20% of its stock on the Hong Kong stock exchange, it seems like there are big plans on the horizon for the fashion house. After the first week of listing, Prada reportedly sold 423.2 million of its shares at HK$39.50 which raised $2.14 billion, significantly less than what was expected. Prada originally indicated it planned to sell its shares for as high as HK$48, which indicates their shares may not have been as popular as initially thought. With Hong Kong and Italy not sharing a tax treaty, it is thought that uncertain tax treatment may have put some investors off.

Steinfeld in Miu Miu
Part of the Prada fashion house, Miu Miu was created by Prada designer and entrepreneur Miuccia Prada in 1993 to appeal to a younger audience. Faces of the brand have included Katie Holmes, Maggie Gyllenhaal, Kirsten Dunst and Vanessa Paradis. 

Fourteen year old Hailee Steinfeld who gained critical, acclaim for her role in True Grit, is currently the face of the brand with images from her Autumn/Winter 2011 campaign for Miu Miu just being released. During the promotional tour for True Grit, Steinfeld was seen in numerous Miu Miu outfits and has the right look for the brand. 

Some have questioned whether at 14, she is too young to be fronting campaigns however, with the Fanning sisters Elle, 13 and Dakota, 18 fronting campaigns for Marc Jacobs, it seems like you can never be too young to be advertising high fashion!

Check out some of the images from the new Autumn/Winter 2011 campaign: 

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