The auction for the fashion company La Perla has closed at a price of about 25 million euros, and it now officially belongs to its new owner, American entrepreneur Peter Kern. The new owner is Expedia's former CEO and a wine entrepreneur from Tuscany. Kern resides in Italy, where in 2023 he acquired the vineyards and estate of the Albatreti company, which comprises five hectares of vineyards, 1.7 of which produce Brunello di Montalcino. The new patron of La Perla also owns Villa Bibbiani, the magnificent historic mansion of the Frescobaldi family. The future of La Perla is now in his hands. In this context, the starting bid for La Perla Manufacturing—the group’s production arm, owned by UK-based La Perla Global Management, in liquidation since November 2023—was €22 million. Kern outbid both the underwear business Lovable and Calzedonia, as well as a Turkish investor, since despite the competitors' offers of a few million more, they did not promise that the production base would remain in Bologna. In terms of management, Peter Kern will serve as the new president of La Perla, a lingerie, swimwear, nightwear, and ready-to-wear brand. Paolo Vannucchi, who served as the company's CEO from 2017 to 2019, will resume his role as CEO.