Purple Style Labs, Owner of Pernia’s Pop-Up Shop, Raises $40M in Series-E Funding

Mumbai, March 13th, 2025: Purple Style Labs (PSL), the parent company to Pernia’s Pop-Up Shop, has secured approximately $40 million in Series-E funding led by SageOne Flagship Growth OE Fund, Alchemy Long Term Ventures Fund, Bajaj Holdings & Investment and Minerva Ventures Fund, including by way of secondary investments. The funding round also saw participation from 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 several other designers, celebrities, sports personalities, and distinguished investors. 

Noteworthy is the continued participation of existing investors such as Singularity Growth Opportunities Fund I, Neelesh Bhatnagar, Pidilite Family Office, Signet Family Office, Rupa Family Office, Kiran Gems Family Office, Utpal Sheth, Rahul Garg, Rahul Kayan, Utsav Mitra, Mukesh Sawlani, Vineet Gautam, Atul Gupta, amongst others.

With respect to the funding round, Abhishek Agarwal, Founder of Purple Style Labs said, "Post acquiring Pernia's Pop-Up Shop in 2018, we have scaled it over 100x in less than seven years, transforming it into one of India’s largest luxury fashion destination. Raising approximately $40 million in Series-E funding marks a pivotal moment in Purple Style Labs’ journey to further redefine India’s luxury fashion landscape. This capital infusion will fuel our aggressive expansion plans, both domestically and internationally, while strengthening our omnichannel capabilities to bolster the shopping experience for Indian fashion globally.”

Since the strategic acquisition of Pernia’s Pop-Up Shop, PSL has established 15+ Pernia’s Pop-Up Shop experience centres globally, catering to womenswear, menswear, jewellery, and accessories. These stores span across major cities like Mumbai, Delhi, Bengaluru, Hyderabad, Kolkata, Ahmedabad, Chennai, Surat, Indore and an international store in Mayfair, London. 

“Over the last two fiscal years, we have significantly scaled our retail presence across major cities and now, in 2025, we are set to launch India’s largest multi-designer luxury retail store at the iconic Ismail Building at Fort, Mumbai. Looking ahead, we are committed to expanding our footprint in key global fashion capitals like New York, Los Angeles, Dubai, Mumbai and Delhi, alongside deepening our presence in India with new stores in tier-II markets. With this strategic growth, our vision remains clear – to build India’s largest and most influential luxury fashion powerhouse, seamlessly bridging Indian craftsmanship and global luxury retail.” adds Abhishek.

Purple Style Labs (PSL) has delivered a 100%+ CAGR growth between FY 21 to FY 24, with 500 Cr+ revenue in FY 2023-24 on a consolidated basis. Additionally, Pernia's Pop-Up Shop garnered recognition by securing a spot on the Financial Times' prestigious list of 500 high-growth companies in the Asia-Pacific region for 2023. 

About Pernia’s Pop-Up Shop 

Pernia’s Pop-Up Shop is one of the most sought-after destinations for bridal and occasion-wear, housing the nation's leading couturiers and offering an exquisite curation of designer womenswear, menswear, jewellery, and more. It offers India’s renowned labels such as Tarun Tahiliani, Falguni Shane Peacock, Amit Aggarwal, Gaurav Gupta, Seema Gujral, Abhinav Mishra, Shyamal & Bhumika, and many others. There are over 15+ Pernia’s Pop-Up Studio experience centres globally across Mumbai (Juhu, Kala Ghoda, Bandra), Delhi (Mehrauli, DLF Emporio, Indian Handicrafts Emporio), Bengaluru (next to UB City), Hyderabad (Banjara Hills), Kolkata (Elgin Road), Ahmedabad (Near Iskcon), Chennai (KNK Road), Indore (AB Road), Surat (Dumas Road) & an international store in London (Mayfair). The forthcoming years will continue to witness massive domestic and global expansion.

About Purple Style Labs

Purple Style Labs (PSL) endeavours to build the largest Indian Luxury Fashion House. It acquired Pernia’s Pop-Up Shop in 2018 and scaled it extensively across different verticals, retail formats & locations, firmly establishing itself as one of India’s largest luxury fashion powerhouses. Along its journey PSL has raised funding from a variety of investors, including Binny Bansal, Akash Bhanshali, Mukul Agarwal, Girish Kulkarni, Navroz Udwadia, Harminder Sahni, Astarc Ventures, ValueQuest SCALE Fund, Yuj Ventures/Sid Yog, Hira Group Family Office, Madhuri Dixit, and Masaba Gupta, amongst others.

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