La Perla is on its way to China. The Fosun International group obtained a 30-day exclusivity period from Pacific Global Management to carry out the due diligence with the aim of acquiring a controlling stake in the Italian company, a well-known Made in Italy brand.
The news was released in a joint statement by Fosun and La Perla. The text specifies that "the conclusion of the operation is subject to the approval of the investment committee of Fosun", former owner, among other things, of Club Med and of the former headquarters of Unicredit in Piazza Cordusio.
The Pacific Global Management (Pgm) fund is controlled by Silvio Scaglia e had taken over the luxury lingerie brand in 2013 by the Court of Bologna, paying him 69 million.
The La Perla group was founded in Bologna in 1954 and has 150 stores worldwide.
The company has been entrusted for about a year to the creative guidance of Julia Haart, who has greatly expanded the offer, ranging from traditional lingerie to the ready-to-wear line.
However, so far there has not yet been that leap in turnover necessary to balance the accounts. To achieve the goal, revenues should rise to 220 million, while now they travel around 150 million.
The company is also starting to close 2017 with a loss and according to financial items, the breakeven, initially postponed from 2017 to 2018, will not be achieved next year either.
“I'm in the process of divorcing my wife and I'm being pressured to monetize. I am convinced that selling would be wrong,” Scaglia declared at the end of the summer.
The Scaglia group has made important investments in La Perla, amounting to around 350 million, and, according to the entrepreneur's own statements, another hundred are needed to complete the recovery plan.
