Former Expedia CEO Buys Troubled Luxury Lingerie Brand La Perla

Former Expedia Chief Executive Officer Peter Kern is set to rescue Italian luxury lingerie brand La Perla, capping a years-long saga for the troubled brand.

The move by Kern, using the vehicle Luxury Holding LLC, will give “perspective and future” to a “global icon of Italian fashion,” Italy’s Enterprise Minister Adolfo Urso said in a statement Tuesday.