China's Fosun in exclusive talks to buy Italy top-end lingerie La Perla

The owner of Italy's La Perla has agreed to one-month exclusive talks with China's Fosun  over the sale of a majority stake in the luxury lingerie group.

Italian entrepreneur Silvio Scaglia, the founder of telecoms group Fastweb, bought the ailing group for 69 million euros (£60.7 million) at a court-led auction in 2013 through family holding Pacific Global Management.

Scaglia has invested over 300 million euros in the company founded in the post-war years in the northern town of Bologna, with the aim of pushing the brand abroad, particularly in Asia.

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The group, which has 30 boutiques, posted sales of 140 million euros this year and is expected to reach break even by the end of 2018, Scaglia said in a recent interview to Forbes.

The conclusion of the deal is subject to Fosun's approval, a joint statement said.

Shanghai investment group Fosun, which owns holiday resort company Club Med, will "continue investing in the brand to develop its full potential as a global luxury fashion house...," the statement said.