ROME (Reuters) -Peter Kern, the former chief executive of U.S. travel technology company Expedia, will buy troubled Italian luxury lingerie company La Perla, Italy’s industry minister said on Tuesday.
Kern, through his luxury holding LLC, has submitted the best offer for the firm, Industry Minister Adolfo Urso said at a meeting with trade unions and the future new ownership.
Kern has committed to invest around 30 million euros ($34.31 million) by 2027 and to relaunch La Perla’s production site in the northern city of Bologna, Urso said in a statement.
The industrial plan presented by Kern provides for the maintenance of employment levels – around 210 people – and about forty new hires, the minister said.
($1 = 0.8745 euros)
(Reporting by Giuseppe Fonte in Rome and Elisa Anzolin in Milan, editing by Gavin Jones)
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