Purple Style Labs (PSL), the parent company of Pernia’s Pop-Up Shop, has raised approximately $40 million in a Series E funding round. SageOne Flagship Growth OE Fund, Alchemy Long Term Ventures Fund, Bajaj Holdings & Investment, and Minerva Ventures Fund led the investment, which included contributions through secondary investments.
The round also attracted backing 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 renowned designers, celebrities, sports figures, and prominent investors.
Additionally, existing investors such as Singularity Growth Opportunities Fund I, NeeleshBhatnagar, Pidilite Family Office, Signet Family Office, Rupa Family Office, Kiran Gems Family Office, Utpal Sheth, Rahul Garg, Rahul Kayan, Utsav Mitra, Mukesh Sawlani, Vineet Gautam, and Atul Gupta reaffirmed their support in this funding round.
“Post acquiring Pernia’s Pop-Up Shop in 2018, we have scaled it over 100 times in less than seven years, transforming it into one of India’s largest luxury fashion destinations,” said Abhishek Agarwal, founder of Purple Style Labs. “This capital infusion will fuel our expansion plans, both domestically and internationally, while strengthening our omnichannel capabilities to bolster the shopping experience for Indian fashion globally.”
Since acquiring Pernia’s Pop-Up Shop, Purple Style Labs (PSL) has expanded its presence by establishing over 15 experience centers worldwide. These stores showcase womenswear, menswear, jewelry, and accessories across key cities, including Mumbai, Delhi, Bengaluru, Hyderabad, Kolkata, Ahmedabad, Chennai, Surat, and Indore, along with an international outlet in Mayfair, London.
Agarwal highlighted that PSL has significantly strengthened its retail footprint across major cities over the past two financial years. In 2025, the company is gearing up to unveil India’s largest multi-designer luxury retail store at the iconic Ismail Building in Fort Mumbai.
“Looking ahead, we are committed to expanding our 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,” said Agarwal. “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.”
Purple Style Labs (PSL) has achieved a remarkable compound annual growth rate (CAGR) of over 100% from FY21 to FY24, reaching a consolidated revenue of over ₹500 crore in FY24.
