Former Expedia CEO Buys Troubled Luxury Lingerie Brand La Perla

Former Expedia Chief Executive Officer Peter Kern is set to rescue Italian luxury lingerie brand La Perla, capping a years-long saga for the troubled brand.

The move by Kern, using the vehicle Luxury Holding LLC, will give “perspective and future” to a “global icon of Italian fashion,” Italy’s Enterprise Minister Adolfo Urso said in a statement Tuesday.

The rescue package includes an agreement to keep all 210 employees, hire 40 more and inject €30 million ($34 million) into reviving the brand by 2027, the ministry said.

Peter Kern

Photographer: David Paul Morris/Bloomberg

Kern paid €25 million for La Perla, Italian newspaper Messaggero reported earlier.

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