La Perla, Peter Kern is the new owner
The former CEO of Expedia, who has also invested in Brunello di Montalcino, has taken over the company and the brand, which are trying to emerge from a long crisis. According to the agreement, jobs will be preserved
2' min read
2' min read
Peter Kern, former vice-president and ceo of Expedia, is the new owner of the luxury lingerie brand La Perla. Kern, who lives in Italy with his wife Kirsten, is also called "Mister Brunello di Montalcino" for his investments in wine. The American billionaire has been awarded the Bologna-based company's brand name and production site: the former is owned by the British-registered company La Perla Global Management Uk, in judicial liquidation in Italy and in liquidation in the UK, while the latter is owned by the Bologna-based La Perla Manufacturing, in receivership.
The announcement was made by the Minister for Enterprise and Made in Italy Adolfo Urso, during the La Perla round table opened at the ministry's headquarters. On 27 May last, Urso, during the round table opened at La Perla's headquarters in Via Mattei in Bologna, had announced the closure of negotiations for the sale of the company, announcing that the name of the buyer would be announced on 10 June. According to the agreement, the jobs of the 210 employees will be saved and 40 new resources will be hired. The price for the production site is expected to be around 25 million, compared to the 22 million minimum price. The advisor is the firm Trombone, which is preparing a plan to relaunch the brand and enhance the know-how based in Bologna.
The American billionaire will be the new president of La Perla, while Paolo Vannucchi, who had already been at the helm in the last months of Silvio Scaglia's ownership and at the beginning of the era of Lars Windhorst, the company's last owner, will return as CEO after a few years.
'This is an extraordinary day for Italian products, for the workers who have always believed in them,' said Minister Urso. 'The rescue of La Perla is now a reality. We have restored perspective and future to a global icon of Italian fashion. I would like to thank Luxury Holding LLC and Peter Kern, from whom the best offer was received, both in economic and employment terms. Today's meeting,' the minister continued, 'will be an opportunity to examine, beyond any gossip, with the seriousness and attention that the situation requires, the industrial plan of this ambitious relaunch project.
