La Perla's historic revival: 220 jobs saved after Austrian investor's bold takeover

La Perla, the historic Italian lingerie brand founded in 1956, has been saved from collapse after years of financial trouble. Austrian investor Peter Kern, the former CEO of Expedia, has acquired the company and pledged nearly 30 million euros by 2027 to revive its operations. The deal brings stability to around 220 workers who faced job losses earlier this year. The luxury label’s struggles began long before its recent insolvency. Founded by Ada Masotti in Bologna, La Perla remained under family control until 2007, when her son Alberto sold it to US private equity firm JH Partners. Decades later, in February 2024, an Italian court declared the company insolvent, leaving its future uncertain.

A month later, in May, the same court placed La Perla’s Italy-based manufacturing division into judicial administration. Tyche Bank stepped in with emergency funding of 500,000 euros to keep production running while a buyer was sought. The search ended with Kern’s takeover, which includes plans to reopen the brand’s Bologna workshop. All 220 former employees have now been rehired by La Perla Atelier, the newly formed operating arm. Workers will return to the recently reopened facility, resuming production after months of disruption. The acquisition follows over two years of instability for staff, who had faced potential redundancies.

Kern’s investment secures La Perla’s immediate future and preserves its Bologna-based manufacturing. The 220 rehired employees will restart work at the revived Atelier, ensuring the brand’s heritage continues. With 30 million euros earmarked for growth by 2027, the company aims to rebuild its position in the luxury market.