Fosun International seeks to buy La Perla

Chinese conglomerate Fosun International is in exclusive takeover talks with the owner of Italian luxury lingerie group La Perla.

Fosun seeks to buy a majority stake in the brand, owned by Italian entrepreneur Silvio Scaglia. The founder of telecoms group Fastweb bought the ailing group for €69 million (US$81.7 million) in a court-led auction in 2013 through family holding Pacific Global Management. With the aim of pushing the brand abroad, particularly Asia, he has invested more than €300 million in the company, founded in the post-war years in the northern town of Bologna.

With 30 boutiques, the group posted sales of €140 million this year and is expected to reach break-even by the end of next year.

A joint statement by the two companies says a deal is subject to Fosun’s approval. It says that Fosun, which owns holiday resort company Club Med, will continue investing in the brand “to develop its full potential as a global luxury fashion house”.

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