Discussions on permitting the suspension of 126 job cuts, announced in summer, at the luxury lingerie manufacturer La Perla are ongoing, the Italian Ministry of Economic Development announced on Tuesday.
The high-end lingerie label closed its first trading day on the Euronext Growth index at the Paris Stock Exchange with a share price increase of 22%, up to €5.50, equivalent to a market capitalisation of €578 million.
According to the unions, there was extensive support among the employees of luxury lingerie label La Perla on Monday for the strike against the prospect of some 100 job cuts at the company’s Bologna headquarters.
After the plan’s announcement, the lingerie label’s employees went on strike. La Perla, owned by Sapinda, a company belonging to controversial German entrepreneur Lars Windhorst, said a huge reorganisation is needed.
The intimates and swimwear company announced on Thursday that it has concluded its acquisition of FOH Online Corp, exclusive licensee for the Frederick’s of Hollywood brand’s international e-commerce business.
The lingerie group reported on Tuesday that it has entered into a non-binding term sheet to receive a $25 million investment from the owner of La Perla, as the potential partners consider possible operating synergies.