Pernia Pop-Up Shop parent Purple Style Labs raises $40 million in funding

Purple Style Labs (PSL), the parent company to Pernia’s Pop-Up Shop, has secured approximately $40 million in a Series-E funding round 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.

Pernia’s Pop-Up Shop offerings

Pernia’s Pop-Up Shop is one of the most sought-after destinations for bridal and occasion-wear, housing couturiers 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.

Market presence

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.

"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 destinations. 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," said Abhishek Agarwal, Founder of Purple Style Labs.

"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," he said.

Financial performance

Purple Style Labs (PSL) claims to have delivered a 100%+ CAGR growth between FY21 to FY24, with 500 crore+ revenue in FY 2023-24 on a consolidated basis.

“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," Agarwal said.

He further said that the company is looking to expand its 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," Abhishek added.