Purple Style Labs (PSL), the parent company of Pernia’s Pop-Up Shop, has secured $40 million in Series E funding to accelerate its global expansion and luxury fashion retail growth. The round included secondary investments led by SageOne Flagship Growth OE Fund, Alchemy Long Term Ventures Fund, Bajaj Holdings & Investment, and Minerva Ventures Fund.

Several major investors participated, including S Four Capital, Sopariwala Exports, Kemfin Family Office, Cordelia Family Trust, Weikfield Family Office, and Salil Taneja Family Office. This latest Series E funding will drive Purple Style Labs’ aggressive global expansion, solidifying its leadership in luxury fashion and enhancing its omnichannel retail growth strategy.

Founder Abhishek Agarwal emphasized that the company would scale its physical and digital retail operations to elevate the customer experience for Pernia’s Pop-Up Shop worldwide. Since acquiring Pernia’s Pop-Up Shop in 2018, PSL has expanded the brand more than 100 times in less than seven years.

“After acquiring Pernia’s Pop-Up Shop in 2018, we have scaled it over 100x in less than seven years, transforming it into one of India’s largest luxury fashion destinations. This capital infusion will fuel our aggressive expansion plans, domestically and internationally, while strengthening our omnichannel capabilities to bolster the shopping experience for Indian fashion globally,” said Abhishek Agarwal, Founder of Purple Style Labs.

PSL Expanding Retail Growth with Luxury Fashion Stores

Purple Style Labs currently operates over 15 of Pernia’s Pop-Up Shop experience centers, spanning Mumbai, Delhi, Bengaluru, Hyderabad, Kolkata, Ahmedabad, Chennai, Surat, and Indore, along with an international store in London’s prestigious Mayfair district.

In 2025, the company will launch India’s largest multi-designer luxury fashion retail store at the iconic Ismail Building in Mumbai’s Fort area, reinforcing its dominance in the high-end retail growth market.

Purple Style Labs has achieved over 100 percent compound annual growth rate (CAGR) between FY21 and FY24, with consolidated revenue surpassing INR 500 crore in FY24. The company is preparing for an initial public offering (IPO) in 2026. It has set an ambitious target of $200 million in gross sales for the upcoming year, further strengthening its global expansion and luxury fashion retail growth.

“Over the last two fiscal years, we have significantly scaled our retail presence across major cities, and now, in 2025, we are set to launch India’s largest multi-designer luxury retail store at the iconic Ismail Building in Fort, Mumbai. We are committed to expanding in global fashion capitals like New York, Los Angeles, and Dubai and deepening our footprint in India’s tier-II markets,” added Agarwal.

With a curated portfolio featuring top designers like Tarun Tahiliani, Gaurav Gupta, and Masaba Gupta, Purple Style Labs continues to redefine luxury fashion and retail growth. The latest Series E funding round underscores the market’s confidence in PSL’s vision, setting the stage for further innovation and expansion in global luxury fashion.

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