All About Peter Kern, The Billionaire Who Saves La Perla
After months of uncertainty, the historic Bologna-based luxury lingerie brand La Perla is not only safe, as are its workers, but it also has a new owner: Peter Kern, an American who is so passionate about Italy that he is nicknamed “Mister Brunello di Montalcino”. Facts and curiosities
Rumor has it that the idea was not entirely his own and that it was his wife Kirsten who advised him, but Peter Kern, former CEO of Expedia and owner of Villa Bibbiani, listened to her and for around 30 million euros won the auction for the luxury lingerie brand La Perla, in liquidation from November 2023.
WHO IS THE NEW OWNER OF THE LA PERLA BRAND?
Peter Kern is an American entrepreneur who previously served as vice president and CEO of the online travel company Expedia, which owns, among other things, Trivago.
PASSION FOR WINE (ITALIAN)
But both Kern and his wife love Italy – where they live – and in fact they are the owners of Villa Bibbiani, the prestigious historic residence of the Frescobaldi family in the province of Florence, purchased “for over 20 million, of which approximately 10 for the purchase and another 10 for investments relating to the properties, a 19th-century botanical garden, and a new agricultural company for the production of wine and oil”, writes the Corriere .
As an entrepreneur, Kern also invested in wine. Hence the nickname “Mister Brunello di Montalcino”.
THE PEARL AUCTION
Despite rivals such as Lovable but above all Calzedonia – the Verona-based group of Sandro Veronesi, known for the brands Intimissimi, Tezenis, Falconeri – and a Turkish fund, Kern prevailed in the auction that had the La Perla brand as its protagonist.
For approximately 30 million euros, the entrepreneur has in fact won the trademark and production site of the Bologna-based company. “The first – Il Sole 24 Ore recalls – is owned by the British company La Perla Global Management Uk, in judicial liquidation in Italy and in liquidation in the United Kingdom, while the second is owned by the Bologna-based La Perla Manufacturing, in extraordinary administration”.
The minimum price of the auction was set at 22 million euros.
WHAT DOES THE INDUSTRIAL PLAN PROVIDE FOR?
"The rescue of La Perla is now a reality. We have restored perspective and a future to a global icon of Italian fashion. Heartfelt thanks to Luxury Holding Llc and Peter Kern, who made the best offer, both in economic and employment terms," said the Minister of Enterprise and Made in Italy, Adolfo Urso, at the La Perla roundtable held at Palazzo Piacentini, attended by the new owners, trade unions and local institutions.
The industrial plan presented in fact includes both the hiring of all 210 employees who feared losing their jobs and the strengthening of the workforce with an additional 40 new hires.
Nearly 30 million euros of investments are also planned by 2027 and the relaunch of the production site in Bologna, as well as an increase in the network of stores reduced during the crisis.
THE NEW TOP
This, Corriere recalls, is the fourth change of ownership since 1954 when La Perla was founded by Ada Masotti. Now, Kern will be the new president, while Paolo Vannucchi returns to lead the brand as CEO, after a few years, having already led the company in the last months of Silvio Scaglia's ownership and at the beginning of the era of Lars Windhorst, the last owner of the company.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/peter-kern-la-perla/ on Tue, 10 Jun 2025 14:10:00 +0000.