Purple Style Labs (PSL), the powerhouse behind Pernia’s Pop-Up Shop, has raised nearly $40 million in its latest Series E funding round. The investment was spearheaded by SageOne Flagship Growth OE Fund, Alchemy Long Term Ventures Fund, Bajaj Holdings & Investment, and Minerva Ventures Fund, with a mix of primary and secondary investments. Several notable names also participated, including S Four Capital, Sopariwala Exports, Kemfin Family Office, Cordelia Family Trust, Weikfield Family Office, Salil Taneja Family Office, PKM Capital (Mehta Family Office), Satyen Kanoria, Ritesh Kamani, and a lineup of designers, celebrities, and sports personalities.
Pernia’s Pop-Up Shop: A Luxury Fashion Powerhouse
One of India’s premier destinations for bridal and occasion wear, Pernia’s Pop-Up Shop brings together a carefully curated selection of designer womenswear, menswear, and jewelry. The platform features top-tier Indian couturiers, including Tarun Tahiliani, Falguni Shane Peacock, Amit Aggarwal, Gaurav Gupta, Seema Gujral, Abhinav Mishra, and Shyamal & Bhumika, among others.
Expanding Footprint: From India to London & Beyond
Since acquiring Pernia’s Pop-Up Shop in 2018, PSL has aggressively expanded, opening 15+ experience centers in key cities like Mumbai, Delhi, Bengaluru, Hyderabad, Kolkata, Ahmedabad, Chennai, Surat, and Indore, along with an international flagship store in Mayfair, London.
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“Post-acquisition, we have grown Pernia’s Pop-Up Shop over 100x in under seven years, turning it into one of India’s largest luxury fashion platforms. This latest $40 million funding round marks a defining moment in our mission to reshape the luxury fashion market,” said Abhishek Agarwal, Founder of Purple Style Labs.
“The fresh capital will help us accelerate our expansion plans—both in India and internationally—while strengthening our omnichannel presence to elevate the global shopping experience for Indian fashion.”
Massive Growth & Future Plans
PSL has seen phenomenal success, claiming a 100%+ CAGR growth between FY21 and FY24, with revenues surpassing ₹500 crore ($60M+) in FY24.
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Looking ahead, PSL is preparing to launch India’s largest multi-designer luxury store at the historic Ismail Building in Fort, Mumbai in 2025. They also have their sights set on expanding into global fashion capitals like New York, Los Angeles, and Dubai, while deepening their presence in India by targeting Tier-II cities.
With this fresh injection of funds, PSL is set to redefine the landscape of Indian luxury fashion on a global scale.
