Pernia’s Parent Purple Style Labs Plans ₹660 Crore IPO In August
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Pernia’s Pop-Up Shop’s parent company, Purple Style Labs Limited, has filed an updated draft red herring prospectus with SEBI and is expected to launch its ₹660-crore initial public offering by the end of August. Read ahead to know more.
Purple Style Labs Limited, the parent company of Pernia's Pop-Up Shop, one of India's largest multi-brand luxury omni-channel fashion platforms, is planning to launch its initial public offering (IPO) worth ₹660 crore by the end of August, according to sources close to the matter.
The company has filed its updated draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), having received regulatory approval in January 2026.
India’s Wedding And Luxury Markets Continue To Grow
The Purple Style Labs IPO comes at a time of solid growth in India's wedding and luxury consumption segments. Industry estimates indicate that India’s wedding industry has crossed the ₹10 lakh crore mark in size.
The wedding wear segment is expected to touch ₹3.4 lakh crore by FY30, while the personal luxury market is set to reach ₹2.31 lakh crore. The increasing demand is creating opportunities for multi-designer platforms that combine product discovery, commerce and distribution under one umbrella.
Business Overview And Operations
Pernia’s Pop-Up Shop has over 1,300 designers and over two lakh products on its digital platform and 14 experience centres. The company clocked a gross merchandise value of over ₹588 crore in FY25 with an average order value of ₹56,106.
Repeat customers accounted for up to 28% of transactions, showing a growing base of higher-value shoppers. The company said revenue has grown more than 11 times from ₹45 crore in FY20 to ~₹508 crore in FY24, translating into a compound annual growth rate (CAGR) of ~83%.
Shareholding And Investor Base
Purple Style Labs is promoted by Abhishek Agarwal, who holds a 27.10% stake in the company. The company counts a diversified base of institutional and private investors among its backers, including Akash Bhanshali, Mukul Agarwal and Singularity, along with several family offices. Its investor base also includes publicly disclosed celebrity investors such as Shah Rukh Khan, Salman Khan and family, Sachin Tendulkar, Madhuri Dixit and Mahesh Babu.
Retail Expansion Plans
The company is also expanding its physical retail presence, with its flagship Pernia's Pop-Up Studio located at Fort, Mumbai, alongside experience centres on Linking Road in Mumbai and Madison Avenue in New York.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa is a content and SEO strategist with 10+ years of experience across fintech and FMCG. She has a knack for connecting dots others miss, spotting trends early, and finding angles on topics most miss to question.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide.
Outside work, she's drawn to art, painting and architecture, and enjoys travelling to explore them firsthand.
