MILAN — As part of its new course, La Perla revealed on Tuesday that it will increase its capital by 23 million euros, offering 5.1 million newly issued shares to external investors.
The board has approved the issuance of the shares based on an equity valuation of 450 million euros.
The move follows the acquisition of the company in February last year by Amsterdam-based private equity firm Sapinda Holding BV from Silvio Scaglia, the Italian entrepreneur who heads up Pacific Global Management and has controlled the lingerie brand since 2013.
During his tenure, Scaglia built on the brand’s lifestyle offering, which includes men’s sleepwear, underwear and women’s sunglasses and added stores, reopening the company’s Madison Avenue flagship.
Sapinda was formed in 2009 by entrepreneurs and wealthy families looking for “exposure to investment opportunities in special situations,” and is headed by chief executive officer Lars Windhorst.
La Perla was founded in 1956 by corsetry maker Ada Masotti. Her son, Alberto Masotti, helmed the business until it was sold to private equity player JH Partners in 2007, which later passed the firm on to Scaglia.
Before Sapinda secured the deal, La Perla’s parent company Pacific Global Management agreed to give Fosun International a 30-day exclusive period for due diligence.
The clock ran out on that period and Fosun missed the deal at the same time as it acquired a majority stake in French fashion label Lanvin.