Omnichannel luxury fashion company Purple Style Labs (PSL), which is the owner of Pernia’s Pop-Up Shop, has raised US $10 million in Series B-round from actor Madhuri Dixit Nene and a clutch of investors.
Founded in 2015 by Abhishek Agarwal, PSL incubates young designer brands and helps them with sales, marketing and technical support.
Mumbai-based PSL has opened 10 Pernia’s Pop-Up Studio experience centres of which three each are in Delhi and Mumbai. The company also has stores in Bengaluru, Hyderabad, Kolkata, Ahmedabad and one in London, UK.
It has two stores in Mumbai by the name Pernia’s Pop-Up Studio for Men. The company is in the process of launching its next menswear store in Ahmedabad.
75 per cent of the company’s online sales come from international markets. It currently retails about 800 designer brands including designers such as Tarun Tahiliani, Anita Dongre, Rohit Bal, Ritu Kumar, Gaurav Gupta, Amit Aggarwal, etc.
“While most Indian designers have been able to build strong brand equity with consumers, they have been unable to make it commercially viable and scale up to becoming a large business. Sensing this opportunity in the industry, combined with a personal interest in luxury fashion, led to the inception of Purple Style Labs. Hence, our thesis since inception has been to build an Indian luxury fashion house, which takes Indian-origin designers to a global scale,” said Abhishek.
