Peter Kern, former chief executive of US travel giant Expedia, is set to acquire La Perla, the struggling Italian luxury lingerie brand. Italy’s industry minister Adolfo Urso confirmed the deal on Tuesday, saying Kern’s proposal was the strongest among competing bids.
Kern, who now runs a private luxury investment firm, has pledged to invest €30 million by 2027 to revive La Perla’s operations.
The plan includes restarting production at the company’s facility in Bologna, a key hub for Italy’s textile industry.
According to the government, Kern’s proposal also includes protecting current jobs—around 210 employees—and creating approximately 40 additional roles as part of the business’s turnaround strategy.
Kern led Expedia from 2020 to 2024, steering the company through the pandemic and overseeing its post-Covid recovery.
His move into high-end fashion marks a shift from digital travel to traditional manufacturing, with a focus on restoring one of Italy’s historic luxury brands.