Purple Style Labs Eyes IPO by Aug 2026 Post-SEBI Nod
By ThePip Desk
Purple Style Labs, parent of Pernia’s Pop-Up Shop, targets an August 2026 IPO after receiving SEBI approval, aiming to tap India’s booming luxury and wedding markets.
Purple Style Labs, the company behind luxury fashion platform Pernia’s Pop-Up Shop, is planning its Initial Public Offering (IPO) by the end of August 2026. The Securities and Exchange Board of India (SEBI) granted approval in January 2026 after the company submitted an updated Draft Red Herring Prospectus (DRHP).
This strategic move aims to capitalize on India’s expanding luxury and wedding markets. The broader wedding industry already surpasses ₹10 lakh crore, with the wedding-wear segment alone projected to reach ₹3.4 lakh crore by FY30.
Pernia’s Pop-Up Shop Metrics
- 1,300+ designers on its platform
- 2 lakh products offered digitally and across 14 experience centers
- ₹588 crore Gross Merchandise Value (GMV) in FY25
- ₹56,106 average order value
- 28% of its customer base comprises repeat buyers
The company has demonstrated rapid financial expansion, with revenue climbing over elevenfold from ₹45 crore in FY20 to ₹508 crore in FY24. This represents a robust 83% compound annual growth rate (CAGR).
Purple Style Labs is also expanding its physical retail presence, including flagship stores in key locations like Mumbai and New York. Founder Abhishek Agarwal holds a 27.10% stake in the company, which also attracts investment from publicly known celebrity figures.
Key Backers
- Shah Rukh Khan
- Salman Khan
- Sachin Tendulkar
- Madhuri Dixit
- Mahesh Babu
Axis Capital and IIFL Capital are currently advising Purple Style Labs on the preparations for its upcoming IPO.