Luxury fashion house Purple Style Labs, the parent of Pernia’s Pop-Up Shop, raised $14 million in Series C led by ValueQuest, ScaleFund, Singularity Growth Opportunities Fund I, ValPro, Masaba Gupta, among others where existing investors such as Astarc Ventures, Param Capital partner Mukul Agrawal, and Xander Group founder Sid Yog also participated.
Purple Style Labs sells high-end designer brands through Pernia’s Pop-Up Shop. It also helps young designer brands with sales, marketing, and technical support.
In 2018, the fashion house purchased Pernia’s Pop-Up Shop. Agarwal claimed that in the last five years, the startup has grown Pernia’s Pop-Up Shop by 70X. “In the coming years, we hope to achieve new heights with more key international locations, broadening our presence and taking Indian fashion and design to the next level,” he added.
Purple Style Labs acquired Pernia’s Pop-Up Shop in 2018 and has since opened 15 Pernia’s Pop-Up Studio experience centres in cities such as Mumbai, Delhi, Bengaluru, Hyderabad, Kolkata, and Ahmedabad, as well as an international store in Mayfair, London. Over the next two years, it aims to open stores in New York, San Francisco, Los Angeles, Dubai, and Singapore.