La Perla Launches Beauty Subsidiary

MILAN — La Perla Fashion Holding NV, which operates the Italian luxury lingerie label La Perla, has launched a subsidiary dedicated to the beauty business.
Named La Perla Beauty, the latest addition in the company structure will focus on developing luxury fragrance, cosmetics and skin care, leveraging the opportunity to engage with a broader consumer audience.
According to a statement, the La Perla brand will be licensed on an exclusive basis to the new subsidiary, which will be operated and managed independently from other subsidiaries of the group.
As reported, in 2017 the brand inked a five-year licensing agreement with fragrance manufacturer and distributor CB Beauty, which included the development, production and distribution of La Perla’s beauty portfolio. The deal quickly resulted in the worldwide launch of a new fragrance family and a scent named “La Mia Perla.”
Reached on Thursday, La Perla declined to comment about the future of the standing licensing agreement with CB Beauty.
As reported, last month La Perla Fashion Holding NV listed its shares on the Euronext Growth Market, operated by Euronext Paris. At that time, the company said no capital would be raised in connection with the listing, either through a public offering or a private placement of the shares.
On Wednesday, though, the company’s board passed a resolution to implement a 200 million euros capital increase without subscription rights by issuing new shares.
Upon shareholders’ approval, the company will use the net proceeds of this capital increase to repay part of the group’s financial indebtedness and fund future acquisitions, among other operations.
This follows the capital increase of 23 million euros launched in May, when 5.1 million newly issued shares were offered to external investors.
The operation was one of the moves marking the new course of the company, initiated after that Amsterdam-based private equity firm Sapinda Holding BV bought 100 percent of La Perla in February 2018 from Italian entrepreneur Silvio Scaglia, who had controlled the firm since 2013.
Last year, La Perla also promoted Alessandra Bertuzzi to head creative designer after the departure of Julia Haart.
La Perla was founded in 1954 by corsetry maker Ada Masotti. Her son, Alberto Masotti, headed the business until it was sold to San Francisco-based private equity player JH Partners in 2007, which later passed the firm on to Scaglia’s Pacific Global Management.
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