Purple Style Labs Eyes ₹660 Cr IPO by Aug 2026
By ThePip Desk
Purple Style Labs, parent of Pernia’s Pop-Up Shop, targets a ₹660 crore IPO by August 2026, fueled by an 83% revenue CAGR to ₹508 crore in FY24. Expansion plans include new centers and marketing.
Purple Style Labs, the parent company behind Pernia’s Pop-Up Shop, is gearing up for a ₹660 crore Initial Public Offering (IPO) slated for the end of August 2026. The company has already received approval from SEBI for this public market debut.
Proceeds from the IPO are earmarked for substantial expansion initiatives. This includes investments in its subsidiary, PSL Retail, to cover lease liabilities for new experience centers and back-end offices across India, alongside funding sales and marketing efforts and general corporate purposes.
Growth Trajectory and Market Position
Purple Style Labs has demonstrated strong financial performance, with revenue climbing from ₹45 crore in FY20 to ₹508 crore in FY24. This represents an 83% compound annual growth rate over the period.
The company operates within India’s booming luxury sector. The wedding industry alone surpasses ₹10 lakh crore, with the wedding-wear segment projected to hit ₹3.4 lakh crore by FY30. India’s overall personal luxury market is also expected to reach ₹2.31 lakh crore.
Key Company Figures
- IPO Size: ₹660 crore
- FY24 Revenue: ₹508 crore
- FY25 Gross Merchandise Value (GMV): ₹588 crore
- Average Order Value: ₹56,106
- Designers on Platform: More than 1,300
- Products Offered: Over 2 lakh
Promoted by Abhishek Agarwal, Purple Style Labs counts several high-profile investors among its backers, including institutional entities, family offices, private investors, and celebrities such as Shah Rukh Khan, Salman Khan, Sachin Tendulkar, Madhuri Dixit, and Mahesh Babu.
Pernia’s Pop-Up Shop currently offers over 2 lakh products from more than 1,300 designers through its digital platform and 14 experience centers. The company also reported a Gross Merchandise Value (GMV) exceeding ₹588 crore in FY25, with an average order value of ₹56,106.
Expansion and Banking Partners
The company is actively expanding its physical retail presence, with new Pernia’s Pop-Up Studio locations planned for Mumbai and New York. This strategic growth aligns with its goal of capturing a larger share of the luxury fashion market.
Axis Capital Ltd and IIFL Capital Services Ltd have been appointed as the bankers to manage the upcoming IPO, guiding Purple Style Labs through its public market entry.