Purple Style Labs (PSL), the parent company of Pernia’s Pop-Up Shop, has raised approximately $40 million in its Series E funding round. The investment was led by SageOne Flagship Growth OE Fund, Alchemy Long Term Ventures Fund, Bajaj Holdings & Investment, and Minerva Ventures Fund, including secondary transactions.
The round also witnessed 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, as well as several designers, celebrities, and sports personalities.
Existing investors such as Singularity Growth Opportunities Fund I, Pidilite Family Office, Signet Family Office, Rupa Family Office, and Kiran Gems Family Office also reinforced their support in this round.
According to Abhishek Agarwal, Founder of Purple Style Labs, the newly raised capital will accelerate the company’s domestic and international expansion while strengthening its omnichannel capabilities. The goal is to elevate the shopping experience for Indian fashion on a global scale.
Since acquiring Pernia’s Pop-Up Shop in 2018, PSL has grown the brand exponentially—scaling it over 100 times in less than seven years. Under PSL’s leadership, the luxury fashion platform has expanded its footprint with more than 15 experience centres across India and beyond. The brand has a presence in Mumbai, Delhi, Bengaluru, Hyderabad, Kolkata, Ahmedabad, Chennai, Surat, and Indore, alongside its first international store in Mayfair, London.
With this latest funding, Purple Style Labs is poised to further solidify its position as a leading luxury fashion platform, championing Indian designers and brands on a global stage.
