Purple Style Labs (PSL), the parent company of luxury fashion platform Pernia’s Pop-Up Shop, has raised approximately ₹162.5 crore in debt financing across multiple tranches this year, strengthening its capital position as it prepares for its upcoming public listing. The fundraising reflects continued investor confidence in India’s premium fashion and luxury D2C ecosystem while supporting the company’s long-term omnichannel expansion strategy.
According to publicly available reporting, the company raised the capital between January and June through 14 tranches by issuing 64,588 non-convertible debentures (NCDs) with a face value of ₹25,000 each.
The debt round attracted participation from a mix of institutional investors, family offices, angel investors, and high-net-worth individuals. California-based Kairos Ventures invested ₹20 crore across February and April, while Real Capital Financial Services invested ₹15 crore. Texport International also participated with ₹2 crore, alongside several prominent individual investors.
The fundraising follows SEBI’s approval for Purple Style Labs’ proposed initial public offering. The company had filed its Draft Red Herring Prospectus (DRHP) to raise ₹660 crore through a fresh issue of equity shares and also outlined plans for a ₹130 crore pre-IPO placement.
As detailed in the DRHP, a significant portion of the IPO proceeds will be deployed toward expanding the company’s omnichannel retail network. Approximately ₹363.3 crore has been earmarked for lease liabilities related to new and existing experience centres and the expansion of backend infrastructure across India. Another ₹128 crore is planned for sales and marketing initiatives to strengthen brand visibility and customer acquisition.
Founded in 2015 by Abhishek Agarwal, Purple Style Labs has built one of India’s leading omnichannel luxury fashion platforms. Its portfolio includes Pernia’s Pop-Up Shop, Pernia’s Pop-Up Studio, Wendell Rodricks, and Hemant Trevedi, while offering collections from renowned Indian designers across bridal wear, occasion wear, menswear, and accessories.
The company has raised approximately $78.4 million to date from a diverse investor base that includes leading institutional investors as well as prominent celebrities such as Shah Rukh Khan, Salman Khan, Masaba Gupta, Sachin Tendulkar, and Suryakumar Yadav.
According to its DRHP, Purple Style Labs reported a FY25 net loss of ₹189 crore, primarily due to an exceptional ESOP-related expense. Excluding this impact, the company continues to invest aggressively in retail expansion, customer acquisition, and brand building as it prepares for its next phase of growth.
With fresh debt capital, an expanding omnichannel footprint, and IPO plans moving forward, Purple Style Labs is positioning itself to further strengthen its presence in India’s rapidly growing luxury fashion and premium D2C market.
Source: Based on publicly available reporting, with additional editorial adaptation and analysis.
