Threat of major redundancy plan looms over La Perla

The unions underlined that La Perla’s announcement didn’t mention any recovery plan. The senior management, in a communique cited on Italian media, simply stated that the company “has undertaken a restructuring plan involving the rationalisation of those functions that aren’t linked with direct production.” An operation that “has become necessary to enable [La Perla] to ensure the continuity of the manufacturing activities in Bologna.”The company hammered the point home by explaining that “the restructuring plan is necessary and cannot be postponed, to steady the operational management of a company that has been in difficulties for 20 years.”

La Perla was founded by the Masotti family in 1954, and sold to US investment fund JH Partners in 2007. Since then, it has never managed to get back on the growth track despite extensive investment, hit by increasingly intense competition, and penalised by rising production costs in Italy and incompetent management.La Perla was bought by Silvio Scaglia in 2013 via his Pacific Global Management holding company, after it filed for a preventive composition procedure with the Bologna court. In February 2018, La Perla was acquired by investment group Sapinda, owned by controversial German entrepreneur Lars Windhorst, a man with two bankruptcies under his belt, who recently found himself embroiled in the affair involving UK investment fund H2O, hit hard by liquidity problems.According to the Financial Times and to Business Insider, the current woes of the lingerie label, whose finances were already in a critical state in 2017, are also partly due to the investments made by Sapinda.

Related Posts

Dior apologises for China map excluding Taiwan

The French luxury brand found itself in hot water after using a map of China which didn’t include Taiwan — a self-ruled island which Beijing views as…

Male grooming trend boosts global haircare industry

The trend for male grooming and the growing number of fashion-conscious consumers were cited as the principal reasons behind the growth, with the aging populations of developed…

Comité Colbert- French luxury association ups promotion of industry worldwide

The association’s new global tour will start in July. In a press release, the Comité Colbert announced that several of its members “will accompany the President of…

Australian drought, sporty shoppers push up prices of wool clothing

“The wool price has increased consistently over the past three years,” said Silvio Botto Poala, Chief Executive Officer of Botto Giuseppe, a 142-year-old company. “But the big…

NRF survey says holiday shoppers will spend 4.1 percent more this year

According to the survey, consumers will divide most of their holiday shopping between gifts at $637.67; related holiday items like food, decorations, flowers and greeting cards at…

Bolt Threads boosts eco brands’ access to Mylo vegan leather

It said it will be offering preferential access to Mylo to brands that “commit to eliminating virgin animal leather from their product lines in a newly formed…