The new owner of Italian luxury lingerie label La Perla is US billionaire Peter Kern, the former vice-president and CEO of Expedia. The news was reported by Italian daily Il Messaggero, citing sources from Italy's Ministry of Business and Made-in-Italy (MIMIT). The news has been confirmed by other sources close to the matter.

Kern lives in Italy with his wife Kirsten, and is nicknamed ‘Mr Brunello di Montalcino’ for his investments in the wine industry. He has acquired the rights to La Perla’s brand name and the label's Bologna production site. The former was the property of UK-based company La Perla Global Management UK, which is being wound up by the court in Italy and went into administration in Britain, while the factory was owned by Bologna-based company La Perla Manufacturing, also in administration.