Former Burberry Asia chief appointed CEO at La Perla

Former Burberry Asia Pacific chief executive Pascal Perrier has been appointed CEO at luxury lingerie group La Perla, following the latter's acquisition by Sapinda Holdings at the start of this year.

Perrier, who had been with Burberry for 13 years, has also become an investor in the company he said: "I am very pleased and impressed with the work done by Sapinda and the La Perla team in the last six months and the large potential that this business offers."

"I am also proud to now be an equity investor in a business with so much brand value and heritage, something that underlines my belief in the growth potential of the brand and the loyalty it has garnered from its customers,” he said.

While at Burberry, Perrier helped build the brand to its current market capitalisation of $11bn with Asia Pacific becoming its largest market. Prior to Burberry he held senior management roles at Gucci, Yves Saint Laurent and Balenciaga.

“We are delighted to finally announce the appointment of Pascal to lead La Perla into a new era of growth. The luxury fashion and lingerie sector is full of opportunity due to the rapid pace of change with which consumers and other cultural stakeholders are now engaging with luxury brands," said Sapinda chief executive Lars Windhorst.

"There are few more experienced people to navigate us through these opportunities and take the brand to the next level than someone with the luxury fashion industry clout and know-how of Pascal,” Windhorst added.

German-based investor Sapinda saw off a rival bid from Chinese group Fosun International to land Italian house La Perla in February after it promised to keep production in Europe. The business, which was founded in 1954, has been owned since 2013 by Italian entrepreneur Silvio Scagli.