La Perla Changes Hands: American Peter Kern Takes Control of the Company

La Perla is saved from closure. The Italian company specialized in the production of luxury intimate apparel, which declared insolvency early last year, announces the closing of the sale and purchase operation and passes into the hands of Peter Ken, the new owner of the company.

After closing the purchase operation at auction, with a price of around 25 million euros, the company will be able to continue with its business, as reported by Pambianconews. Now, the consulting firm Trombone is already working on a plan to "relaunch the brand" and "enhance its expertise in collaboration with its new owner", local Italian media reported.

Peter Kern, former CEO of Expedia travel agency and Tuscan wine entrepreneur, acquired part of the vineyards and estate of the Albatreti wine company in 2023.

Once the purchase is closed, Kern will become the new chairman of La Perla, while Pablo Vannucchi, CEO of the company from 2017 to 2019 will become CEO of the firm.

La Perla reshuffles its top management and appoints Pablo Vannucchi as CEO

InMay, La Perla announced that it had finally found a buyer for its business, allowing it to continue operations. The company became insolvent at the beginning of last year, and despite having received several offers, it was not until then that the deal was finalized.

"The symbol of Made in Italy will be relaunched by an investor who guarantees the continuity of the brand, the plant and employment," assured Adolfo Urso, Minister of Enterprise and Made in Italy. The operation entails, in fact, the presentation of a renewed industrial plan, with the aim of reactivating production at the factory in Bologna and safeguarding more than 200 jobs.

The decision had already been expected since March, when the Italian press began to point to an acquisition by an international company, without ruling out, however, the possibility that it would pass into the hands of an Italian industrialist. The operation will include the production of the firm, in addition to the brand license and the option to purchase the global management of La Perla UK and some foreign subsidiaries such as those in China and the United Arab Emirates.

The intimate apparel company continues with the presentation of a renewed industrial plan.

Founded in 1956 by Ada Masotti, the company remained in the hands of the founding family until 2007, when it became controlled by the venture capital group JH Partners. Later, in 2013, the company was acquired by Silvio Scaglia and in 2018 by Sapinda. Currently, the La Perla brand is owned by La Perla Global Management UK, which controls all assets and holds the rights to sell branded products, and is also in the process of liquidation.

Urso yesterday also highlighted the relevance of the La Perla case, in a context marked by the battle in favor of made in Italy, which is being fought through the teamwork of both companies and the government. The portfolio is also immersed, in fact, in an operation to save the Italian department store group Coin, through direct entry into its capital to ensure the continuity of the business.