Pacific Capital sees high potential in growth of luxury brand
Pacific Capital, which recently acquired Italian luxury lingerie company LA PERLA, has announced plans to invest over 120 million euros over the next 18 months. Under new ownership, La Perla is set to open 30 new mono-brand flagship stores throughout Asia and Europe, including a new flagship store in London in 2014.
The newly established company will keep on all 700 employees in Italy, and aims to boost its current 107 million euros turnover to 150 million euros in 2014, according to newspaper II Sole 24 Ore. The holding company has reportedly already invested 40 million euros into La Perla, after spending 69 million euros purchasing the brand and all its assets.
“The 110 million euros that we had originally planned to spend over 18 months to revive La Perla has been underestimated. I need at least another 80 or 90 million euros capital investment for 2014,” said Paolo Barbieri CEO of Pacific Capital, adding “We have just finished creating a new concept for the 45 directly run stores, all of which will be subject of a total refit and we plan to open another thirty stores, twenty in Asia and the rest in Europe”