PARIS (AP) — As France’s government unraveled in another episode of political instability Monday, the cogs of the luxury industry kept turning. At the Iéna Palace in Paris’ 16th arrondissement, Miuccia Prada's Miu Miu offered its own brand of reassurance: business as usual, chic as ever at Paris Fashion Week.

The opener was sober — a deep blue warehouse apron dress, all covered up and precise. It set the tone for a collection that was gamine yet grounded, playful but edged with pragmatism. Prada, a pioneering CEO as well as designer, made it clear: Miu Miu wasn’t just flirtatious this season, it meant business.

Founded in 1993 as Prada’s irreverent little sister, Miu Miu is the Italian designer’s freer, instinctive outlet. Where Prada is cerebral, Miu Miu is gamine and skewed—lingerie-as

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