Peter Kern

Peter Kern
Nationality	American
Occupation	Business executive, investor
Known for	Former Vice Chairman and CEO of Expedia Group; acquisition of La Perla

Peter Kern is an American business executive, investor, and billionaire who served as Vice Chairman and Chief Executive Officer of Expedia Group, one of the world's largest online travel companies. Kern's career has spanned several decades in media, technology, and investment, culminating in his leadership of Expedia Group during a period of significant upheaval brought on by the COVID-19 pandemic and subsequent corporate restructuring. Following his departure from Expedia, Kern attracted international attention in 2025 when he acquired the troubled Italian luxury lingerie brand La Perla, committing to revive its production operations in Bologna and re-employ hundreds of workers. His career trajectory reflects a pattern of involvement in complex corporate turnarounds and strategic investments across multiple industries. Described in media reports as a billionaire, Kern has maintained a relatively low public profile despite his senior roles at major corporations.

Career

Expedia Group

Peter Kern served as Vice Chairman and subsequently as Chief Executive Officer of Expedia Group, the American online travel conglomerate that operates a portfolio of brands including Expedia.com, Hotels.com, Vrbo, and others. His tenure at the helm of the company came during one of the most challenging periods in the history of the global travel industry, as the COVID-19 pandemic devastated demand for travel services worldwide. As CEO, Kern was tasked with navigating the company through the crisis, implementing cost-cutting measures, and positioning Expedia Group for recovery as travel demand returned.

Kern's role at Expedia Group was referenced in multiple international news reports following his 2025 acquisition of La Perla, where he was consistently identified as the "former vice-president and CEO of Expedia" and "former chief executive of U.S. travel group Expedia."

Acquisition of La Perla

In June 2025, it was announced that Peter Kern would acquire La Perla, the Italian luxury lingerie company that had been in severe financial distress. La Perla, founded in Bologna in 1954, had been one of Italy's most recognized luxury fashion brands but had experienced years of declining fortunes, ownership changes, and ultimately insolvency proceedings. Reuters reported that Kern would "rescue and take over" the company, which had been seeking a buyer capable of preserving its Italian manufacturing heritage and workforce.

FashionNetwork USA reported in June 2025 that "the new owner of Italian luxury lingerie label La Perla is US billionaire Peter Kern, the former vice-president and CEO of Expedia," confirming the acquisition and noting that the brand, its production site, and its employees would be taken over entirely by Kern. The French luxury publication Luxus Plus similarly reported that "La Perla, the brand, its production site, and its employees will be taken over entirely by American businessman Peter Kern," characterizing the deal as a rescue of the storied Italian label.

The acquisition was structured through a newly created entity called La Perla Atelier S.r.l., controlled by Kern. On October 1, 2025, the formal transfer of La Perla's assets to La Perla Atelier was completed. Leaders League reported that "the assets of the La Perla Group were transferred to La Perla Atelier S.r.l., a company controlled by investor Peter Kern," marking the official conclusion of the acquisition process.

FashionNetwork USA provided further details on the transfer, reporting in October 2025 that La Perla Manufacturing's 163 employees were "the first to join the newly created entity," with additional transfers of La Perla's retail and other operations to follow. The deal encompassed La Perla's Italian and United Kingdom operations, indicating Kern's intention to maintain the brand's international presence.

Revival of La Perla's Bologna Operations

A central element of Kern's acquisition of La Perla was the commitment to revive the brand's historic production facilities in Bologna, Italy. The Spanish fashion industry publication Modaes reported in October 2025 that "Italian luxury lingerie brand revives its Bologna production plant, re-employing 200 workers following a €25 million acquisition." This figure indicated the approximate scale of Kern's investment in the rescue of La Perla and the significance of the deal for the local workforce and community in Bologna.

The reactivation of the Bologna production plant and the re-employment of approximately 200 workers represented a significant development in the Italian fashion industry, where the closure of La Perla's operations had been viewed as a loss for Italian luxury manufacturing. The acquisition was widely covered in European and international fashion and business media, with Kern consistently described as bringing both the financial resources and strategic intent necessary to restore the brand's operations.

The deal's structure—creating La Perla Atelier S.r.l. as the acquiring vehicle and focusing initially on the manufacturing workforce before expanding to retail operations—suggested a phased approach to the turnaround, prioritizing production capabilities and the skilled Italian artisans who had been central to La Perla's reputation for luxury craftsmanship.

Recognition

Peter Kern's acquisition of La Perla in 2025 generated substantial international media coverage. Reuters, one of the world's largest news agencies, covered the deal as a rescue of a storied Italian brand by a former American technology and travel executive. The coverage in FashionNetwork, Luxus Plus, Leaders League, and Modaes reflected the significance of the transaction within the European luxury fashion industry, where the preservation of heritage brands and skilled manufacturing workforces carries particular cultural and economic importance.

Kern's identification in multiple reports as a "billionaire" and his prior role as CEO of Expedia Group placed him among a cohort of American technology executives who have diversified their business interests into European luxury goods and fashion, a trend that has attracted attention from both business and cultural commentators.