By now, fans of luxury fashion are well accustomed to the eye-watering prices of their favourite brands. In recent years, a classic Chanel handbag has tripled to cost £8,000, while Hermes’ turbocharged increases did nothing to halt sales rising by 17 per cent in the final quarter of 2023. With designer dresses routinely costing in excess of £3,000 and even hoodies costing up to £1,800, most fashion lovers would concede that when it comes to checking the price tag of those coveted items on their wish list, absolutely nothing would surprise them.
That is, until they clapped eyes on Miu Miu’s £600 pants. No; these are not “pants” in the American sense, with a waistband, a zip and two legs – features that might, at least, go some way to justifying their cost. They’re not even Bridget Jones-eque “big knickers”, but as skimpy as they come. Low of hip, high of leg and snug of bottom, they conjure images of deeply bronzed sunbathers in Eighties Ibiza, an impression further enhanced by their colours, which include canary yellow, pistachio green, pillar box red and bright orange.
But if you’re imagining that the pants’ exorbitant prices and challenging proportions have created a perfect storm of uninterest, you’d be wrong. According to the fashion technology company Lyst, Miu Miu’s pants are currently riding high – or rather, low – as the third-hottest fashion item in the world.
These are the findings of the Lyst Index, a quarterly report that analyses the online shopping behaviour of more than 200 million shoppers, aggregating search, browse and purchase histories with social media mentions and engagement statistics to collate a final result.
Those opining that the world has finally gone mad should note that while a pair of overpriced yellow pants might seem frivolous, the thinking behind them is anything but. Fashion is a highly serious business; one of the largest industries in the world. At a time when tough economic conditions have left even storied brands such as Gucci and Yves Saint Laurent struggling – parent company Kering recently announced group profits are likely to drop by 40 to 45 per cent – it’s particularly salient to see which brands are doing well.
The brand which is doing best of all is Miu Miu – a label whose recent results are anything but pants. On Wednesday, its owner, the Prada Group, announced that Miu Miu’s sales had risen by 89 per cent in the first quarter of 2024, building on a 58 per cent growth in 2023. Launched in 1992 as a more affordable “little sister” range to Prada, Miu Miu is currently overshadowing its elder and more cerebral sibling, whose sales were up 7 per cent in the same period. According to its research, Lyst places Miu Miu as the hottest brand in the world by search data, with Prada in second place.
Nor is this the result of mere hype, claims Lyst. “Strong storytelling and cultural relevance sets Miu Miu apart,” says Katy Lubin, Lyst’s vice-president of communications. “The brand is seen as hot, but also timeless. Shoppers also love its distinctive styling, which has sparked a new obsession with underwear as outerwear.”
Indeed, thanks to Miu Miu, the “pants for day” trend has been gathering pace for some time, with celebrities including Emma Corrin, Bella Hadid and Alexa Chung all recently stepping out in the challenging look, as well as a host of influencers on TikTok and Instagram. Like all of Miu Miu’s pants (previous iterations have included sequins and silk), its latest £600 pair are perfectly placed to provide those all-important viral moments that so successfully drive sales.
But if Miu Miu is clever at creating virality (its spring 2022 micro-mini was another huge social media hit), there are other reasons for its stellar success. Firstly, it’s designed by Miuccia Prada, the compelling 74-year-old Italian whose own sense of style recently saw her grace the cover of American Vogue. Unlike many brands which have floundered since their founders died, Prada and Miu Miu retain a sense of authenticity, combined with a strong point of view that many of their contemporaries lack.
Second, Miu Miu’s fashion shows are genuine talking points. As well as seating a phalanx of the coolest actresses, singers and influencers front row, the clothes on the catwalk are far more covetable – and easy to wear – than its £600 pants might suggest. At its most recent show, held in Paris in March, a diverse cast of women took to the catwalk, including supermodel Gigi Hadid, 29, rapper Little Simz, 30, and actress Kristin Scott Thomas, 63.
Scott Thomas is unlikely to be seen in Miu Miu’s £600 pants any time soon, but the show’s casting neatly illustrated Miu Miu’s broad appeal among women in many different roles and life stages. Most of its customers aren’t pant-wearing influencers, but cash-rich, time-poor professionals looking for stylish wardrobe solutions that fit their busy lives.
While the pants were styled in the womenswear show with shirts, sandals and trench coats, their unisex appeal hasn’t been lost on men. “If I bought them in all the colours it would cost £4,200,” menswear stylist and consultant Simon Chilvers recently mused on Instagram. “Forced to pick one? It would be brown.” Many men have noted their similarity to Speedos, a range of skimpy swimming briefs that were popular in the Seventies and Eighties.
Only Miu Miu could make budgie smugglers (as the style was known) popular again. As for those who balk at wearing them with nothing else but a T-shirt and a smile, there is another way. Simply add a pair of jeans or shorts and pull up their waistband, making sure that all-important logo is visible. As Miuccia Prada said backstage after the show: “The point is you can choose what you wear.” And – thankfully – how you wear it.
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