Purple Style Labs (PSL)—the force behind India’s luxury fashion phenomenon Pernia’s Pop-Up Shop, has firmly positioned itself at the intersection of style, scale, and digital innovation after raising $40 million in Series E funding led by SageOne Flagship Growth OE Fund, along with participation from Alchemy Long Term Ventures Fund, Bajaj Holdings & Investment, and Minerva Ventures Fund, among other investors.
A Landmark Raise in Indian Luxury Fashion
This Series E round, which included both primary and secondary capital, stands among the largest in India’s luxury designer segment in 2025. Founder Abhishek Agarwal said the capital will fuel PSL’s expansion across domestic and global markets while bolstering its omnichannel retail experience to meet the evolved needs of the modern luxury consumer (Economic Times Retail).
Scaling Omnichannel and International Reach
Since acquiring Pernia’s Pop-Up Shop in 2018, PSL has scaled the brand over 100x in under seven years, transforming it into…
a powerful marketplace housing more than 1,300 designer labels.
It now operates 15+ flagship and experience centres across major Indian cities—Mumbai, Delhi, Bengaluru, Hyderabad, Chennai, Ahmedabad, Kolkata, Surat, and Indore—and internationally at London’s Mayfair, its first global outpost.Looking ahead, the company plans to open retail spaces in New York, Los Angeles, Dubai, and other global fashion capitals while expanding deeper into India’s Tier II cities.
Financial Growth and IPO Ambitions Purple Style Labs recently crossed ₹507.8 crore in consolidated revenue for FY24, reporting a 36.4% year-over-year increase and maintaining a 100% CAGR between FY21–FY24 (Inc42).
In September 2025, PSL filed draft IPO papers with SEBI to raise ₹660 crore (~$79 million), aiming to fund growth initiatives, lease liabilities, and brand marketing expansions (Economic Times)…
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