MILAN – Italy’s La Perla Group is to shed 365 jobs at its headquarters in Bologna, confirming a report in WWD.
La Perla said its management has met with trade unions to discuss the cuts, which are part of a “reorganization and re-launch plan” to help the company compete successfully in the market. No other cuts are expected.
San Francisco-based private equity fund JH Partners acquired full control of La Perla earlier this month, purchase of the remaining 30 percent stake in the business from founding family member and company chairman Alberto Masotti, who subsequently retired.
On Tuesday, La Perla managing director and JH Partners partner Jeff Hansen said the fund’s aim was “to achieve growth and profitability,” and that it had already “made great strides to turn [La Perla] around” since acquiring 70 percent of the $270 million label in 2007.
La Perla operates 78 boutiques worldwide and is available at about 3,000 multi-brand stores.