• Purple Style Labs

  Participated · Series C · Apr 2023

  Founded in 2015 by Abhishek Agarwal, Purple Style Labs (PSL) is an omnichannel luxury fashion platform that enables discovery and purchase of Indian designer wear and operates Pernia’s Pop‑Up Shop and the Stylist. The company has expanded its offline footprint with 15 Pernia’s Pop‑Up Studio experience centres across major Indian cities and an international store in Mayfair, London. PSL has shown rapid financial growth: revenue rose 4x to Rs 174.56 crore in FY22 from Rs 44.05 crore in FY21, and it reports more than 100% year‑on‑year growth over the past two years. The firm closed FY23 with consolidated gross sales above $60 million (Rs 500 crore) and says it has raised nearly $50 million to date. PSL aims to reach $200 million (Rs 1,600 crore) in gross sales within the next two to three years and is eyeing an IPO in 2026. Competitors named in the article include ShopStyle, IndianRoots, Arvind Fashion, FabIndia, and Jivaana. Founded in 2015, Purple Style Labs is a one-stop luxury fashion house for bridal and ceremonial needs that houses jewellery and accessories from designers such as Shyamal & Bhumika, Tarun Tahiliani, Falguni Shane Peacock, Amit Aggarwal, and Gaurav Gupta. The company has delivered more than 100% year-on-year growth for the last two years, closed FY22–23 with more than $45 million in consolidated revenue, and reached EBITDA breakeven. Its March 2023 exit gross sales run rate was around $75 million, and it is projecting a $120 million gross sales run rate by March 2024. PSL plans to deploy new capital into younger labels and continue acquiring mature brands while expanding its retail footprint domestically (Chennai, Surat) and internationally (New York, San Francisco, Los Angeles, Dubai, Singapore). Since acquiring Pernia’s Pop-Up Shop in 2018, the company has opened 15 Pernia’s Pop-Up Studio experience centres across major Indian cities and an international store in Mayfair, London, and opened a 50,000 sq ft experience centre in New Delhi in November 2022. It has also launched Pernia’s Pop-Up Studio, Men as an extension to house contemporary, ethnic, and occasion wear. Purple Style Labs runs Pernia’s Pop‑Up Shop and Wendell Rodricks, offering curated luxury and designer fashion through an online platform and 10 retail stores. The company retails roughly 1,000 designers, including Tarun Tahiliani, Anita Dongre, Rohit Bal, Ritu Kumar, and Falguni Shane Peacock. It acquired Pernia’s Pop‑Up Shop in 2018 and says it will use new capital to expand its geographic footprint. Management plans to enter international markets with retail stores in New York and Dubai within the next 12–18 months. The firm raised $10 million earlier in the year and completed a Series B in June with participation from notable investors. Founder Abhishek (Monty) Agarwal stated the Klub funding will fuel growth in the Indian luxury retail segment. Purple Style Labs operates an omnichannel luxury fashion platform and incubator that helps young designer brands with sales, marketing and technical support. Its Pernia’s Pop-Up Shop arm retails over 800 designers and has opened 10 Pop-Up Studio experience centres across major Indian cities plus a global store in London. Pernia’s reports 50x growth between 2018–2022 and claims 75% of online sales come from international markets. PSL acquired Wendell Rodricks in December 2020 and plans to scale that label to a Rs 100 crore run rate within three years. Founded in 2015, the company intends to use new capital to expand its Indian footprint (Mumbai, Delhi, Hyderabad and new cities Chennai and Surat) and launch retail stores in New York and Dubai within 12–18 months. The strategy emphasizes omnichannel and international retail expansion to grow its designer roster and global sales. Purple Style Labs incubates young designer brands, providing sales, marketing and technical support to build a luxury fashion house out of India. Founded in 2015, PSL aims to create a strong multi‑brand retailing platform with an international focus. The company has entered a joint venture with Pernia’s Pop Up Shop to rapidly scale Indian designer brands in domestic and international markets. The recent investment of about Rs 20 crore (~$3 million) will be used to build an omni‑channel sales network for Pernia’s Pop Up Shop and to expand PSL’s homegrown brand. Through the partnership PSL plans extensive retail activity, including 10 editions of Pernia’s Pop‑Up Show next season (six international events) and the opening of 10 multi‑designer stores in major cities including Mumbai and Delhi and three international locations. PSL and Pernia’s aim to become the largest Indian multi‑brand retailer in the luxury category in a short span.

No current team members are available.