POWER LIST 2017: Business Big Shots – Silvio Scaglia, chairman, La Perla

La Perla owner Silvio Scaglia and creative director Julia Haart (Photo by Dimitrios Kambouris/Getty Images)

Italian businessman Silvio Scaglia is responsible for bringing world-renowned luxury lingerie brand La Perla back to life, after saving it from bankruptcy in June 2013.

Trade unions feared the takeover would result in job losses among La Perla’s 800 staff. In fact, Scaglia vowed to pump €110 million into relaunching the label on top of the €69m he spent buying the company in a court-led auction in Bologna.

Private equity fund JH Partners initially bought La Perla in 2008 and invested around €50m in a bid to turn it around. Over 67% of its products at the time were sold in Europe and the company was only banking revenues of €107m in 2012, which was down on the previous year. Scaglia believes this period was the catalyst for La Perla’s decline.

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“It was then bought by an American fund and started a period of bad fortune. It was managed too much with a financial perspective, without the passion of an entrepreneur and without the long-term vision of a family,” he told Arabian Business in February 2015.

Scaglia, who also owns Elite model agency, got control of La Perla very quickly and began improving the brand’s product and distribution.

He also led the company in developing the retail side of the business, opening 48 stores and renovating 12 others in just 30 months. La Perla has also opened a shop-in-shop at Selfridges’ Body Studio in London.

As of last year, 21% of La Perla’s sales are in Italy, with another 35% in the rest of Europe and the remaining split between the US and Asia.

La Perla has also gained an A-list celebrity following made up of Kendall Jenner, Naomi Campbell and Joan Smalls, who were among the stars of the brand’s first ever catwalk at New York Fashion Week last month.

Kendall was recently announced as the face of La Perla’s SS17 campaign.

Profile

Company: La Perla
Address: Via Enrico Mattei, 10 40138, Bologna
Tel: +39 051 537411
Twitter: @LaPerlaLingerie
Website: www.laperla.com
Focus: Lingerie manufacturing and retail

For the full Business Big Shots list, CLICK HERE

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