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La Perla to Mr Fastweb, Calzedonia loses: the battle for the lingerie brand

The historic luxury lingerie brand ends up in the hands of Silvio Scaglia, the founder and former CEO of Fastweb, for 69 million euros – The great defeat is Calzedonia: Sandro Veronesi, the brilliant inventor of this brand, attacks: “Poor Pearl, from frying pan in the fire"

La Perla to Mr Fastweb, Calzedonia loses: the battle for the lingerie brand

More money and more jobs safeguarded: this is how Silvio Scaglia, mister Fastweb, through his Pacific Capital fund, wins the historic luxury lingerie brand La Perla, which went to auction this morning in Bologna. Sixty-nine million were enough to conquer a bite coveted even by Sandro Veronesi, the brilliant inventor of Calzedonia, who does not seem to digest the defeat well: "From the frying pan of the Americans to the grill of Scaglia: poor Pearl, she is without peace - he comments - I'm sorry for the employees who, I must say, were many who asked us to support her. We did what we could, we raised the price. We will be grateful to the creditors of the banks who will take much more money. Promises are one thing, facts are another. We will see. As far as we're concerned, there's a lot on the market”.

The victory happened on the wire, since veronesi he had only offered a million less, but that was enough. Probably also due to Scaglia's commitment to keep over 800 of the group's 900 employees in Italy.

The buyer guarantees that his will be a true industrial commitment: “I am an entrepreneur – he says – and I will personally work on this project. The brand is great, even if it has suffered a lot in recent years. We know that there is a lot to do both on the employment and investment fronts”. The 110 million euros that should serve to relaunch the company seem confirmed. Among the hypotheses on the table is that of creating synergies with Elite World, the world network of "model management" and of focusing on a luxury pole also for China.

The next steps to make the sale of the historic Bolognese brand definitive, after today's auction, are the authorization (which must arrive within hours from the Court) for the arrangement with creditors and then, by 23 July, the presentation by the company of the actual composition with creditors, which must be approved by the creditors. A path that should not meet obstacles according to the lawyer Thomas Amirante of the Latham & Watkins firm that he assists. La Perla, since, writes the Dire agency, the 69 million offer made today by Silvio Scaglia and winner of the auction "satisfies creditors for a percentage that goes over 80%", both privileged and unsecured. Only after the approval of the arrangement by the creditors is the actual purchase completed”.

Meanwhile, many comments under the two towers. On the eve, the first to speak about him is the president of the industrialists Alberto Vacchi, according to whom the many attentions paid to La Perla “demonstrate its great potential. We hope that this will be a prerequisite for safeguarding employment and creating work for related industries in the Bologna area”.

On the other hand, when the news of the award was announced, the Province was the first to pronounce itself: "We recognize the value of a proposal that invests in the excellence of this area - says Graziano Prantoni, councilor for production activities – for our part, we place the maintenance of the production pole in our area and the safeguarding of employment at the center of attention, against an industrial plan to relaunch the company”.

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