Purple Style Labs (PSL), the parent company of Pernia’s Pop-Up Shop, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise up to Rs. 660 crore (US $ 74.39 million) through a fresh issue of equity shares.
Founded in 2014, PSL operates one of India’s largest multi-brand luxury fashion platforms, curating more than 2.1 lakh stock-keeping units (SKUs) from over 1,300 designer brands across womenswear, menswear, jewellery, kidswear and accessories.
The company reported revenues of Rs. 508 crore (US $ 57.26 million) in FY ’24, up from Rs. 45 crore (US $ 5.07 million) in FY ’20, representing a compound annual growth rate of 83%, which it stated outpaced several global and domestic luxury peers. PSL runs an omni-channel model, combining its online platform – which attracted 18.6 million unique visitors in FY ’25 – with large-format Experience Centres in cities including Mumbai, Delhi, Bengaluru, Hyderabad and London. Two new flagship stores were recently opened in Mumbai and Delhi, and the company has announced plans for further expansion in New York.
International sales accounted for 28.4% of gross merchandise value (GMV) in FY ’25, with customers across 100 countries. The average order value increased to Rs. 56,106 (US $ 632) in FY ’25 from Rs. 39,499 (US $ 445) in FY ’23, while EBITDA margins improved from 0.6% to 8.6% in the same period.
