October 22, 2020
Uncategorized

La Perla Denies Negotiations With Mittal

NO CAN DO: La Perla is firmly denying the existence of any negotiations to sell the Italian lingerie brand to Megha Mittal, the daughter-in-law of billionaire steel magnate Lakshmi Mittal and representative of the Mittal family. This follows speculation initiated by a Mergermarket report that Mittal, who bought Escada in 2009, was targeting La Perla.
Pacific Global Management, helmed by Italian entrepreneur Silvio Scaglia, bought La Perla in 2013 at an auction. A Milan-based market source said Scaglia is “focused on the development of the label, and is not looking to cash out.” Pacific Global Management is also parent to model agency Elite World.
Scaglia has been on a mission to grow La Perla’s lifestyle offering and expand its retail footprint. Last year, for example, the company reopened its Madison Avenue store, which was redesigned by architect Roberto Baciocchi to accommodate newer categories including men’s sleepwear, underwear and women’s sunglasses.
In 2016, La Perla hired Julia Haart as the brand’s creative director, following Pedro Lourenço. Haart’s second collection for the brand debuted at New York Fashion Week, working British gardens’ floral motifs throughout the sexy and feminine lineup. Haart has been working hard to raise the profile of La Perla’s corset jacket, which the

Follow WWD on Twitter or become a fan on Facebook.

Read More…