Purple Style Labs Secures $40 Million for Expansive Luxury Fashion Growth

Purple Style Labs, the parent company of Pernia's Pop-Up Shop, has raised $40 million in Series-E funding. This capital will be used to expand the company's retail presence both domestically and internationally, enhancing its omni-channel capabilities and luxury fashion offerings across key markets.

Purple Style Labs (PSL), the driving force behind Pernia's Pop-Up Shop, announced on Thursday a successful Series-E funding round, amassing a whopping $40 million led by heavyweights like SageOne Flagship Growth OE Fund and Alchemy Long Term Ventures Fund.

The capital injection will primarily focus on amplifying the Mumbai-based company's retail presence and refining its omni-channel strategies, as PSL aims to magnify its status as a leading luxury fashion hub both in India and globally.

Founder Abhishek Agarwal emphasized the company's commitment to international expansion, eyeing key global cities while also enhancing their footprint in tier-II Indian markets. The investment round attracted an impressive array of backers, including high-profile figures and family offices.

(With inputs from agencies.)