Pernia’s Pop-Up Shop parent company raises $40 million

Purple Style Labs (PSL), the parent company of bridal wear player Pernia’s Pop-Up Shop, has secured around $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 secondary investments.

Purple Style Labs (PSL) acquired Pernia’s Pop-Up Shop in 2018. They scaled it across different verticals, retail formats, and locations. Along its journey, PSL has raised funding from a variety of investors including Binny Bansal, Akash Bhanshali, Mukul Agarwal, Girish Kulkarni, Madhuri Dixit, Masaba Gupta, amongst others. Pernia’s Pop-Up Shop caters to womenswear, menswear, jewelry, and accessories.

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 offers Indian labels like Tarun Tahiliani, Falguni Shane Peacock, Amit Aggarwal, Gaurav Gupta, Seema Gujral, and others. There are over 15 Pernia’s Pop-Up Studio experience centres globally including outlets in Mumbai, Delhi, Bengaluru, and Hyderabad. The forthcoming years will continue to witness domestic and global expansion, it said.

Luxury fashion

Abhishek Agarwal, Founder of Purple Style Labs said, “Post acquiring Pernia’s Pop-Up Shop in 2018, we have scaled it over 100x in under 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. This capital infusion will fuel our expansion plans, domestically and internationally, while strengthening our omnichannel capabilities to bolster the shopping experience for Indian fashion globally.”

He added that over the last two fiscal years, it has significantly scaled its retail presence across major cities. In 2025, it is set to launch India’s largest multi-designer luxury retail store in Mumbai. The company will also expand its footprint in cities such as New York, Los Angeles, Dubai, Mumbai, and Delhi, alongside deepening its presence in India with new stores in tier-II markets.

PSL delivered over 100 per cent CAGR growth between FY21 to FY24, with Rs 500 crore revenue in FY 2023-24 on a consolidated basis.