Italy’s luxury lingerie brand La Perla is set to be acquired and rescued by former Expedia CEO Peter Kern, the Italian government announced. Kern, through his holding company, presented the most favorable bid and pledged to invest 30 million euros ($32.5 million) by 2027 to relaunch the brand, preserve jobs, and revive production at its Bologna factory. Founded in 1954, La Perla has changed ownership multiple times amid ongoing financial struggles. Kern’s plan, supported by the Italian government and welcomed by trade unions, aims to boost employment from 210 to 250 workers.