Purple Style Labs raises $14Mn in Series-C funding
Summary
The round also saw the continued support of existing investors such as Astarc Ventures, Mukul Agrawal (Param Capital), Neelesh Bhatnagar (NB Ventures) and Yuj Ventures/Sid Yog (Founder, Xander Group).With respect to the funding round, Abhishek (Monty) Agarwal, founder of Purple Style Labs, said, Purple Style Labs was started in 2015 with the vision to build Indias largest Luxury Fashion House, and it has been extremely fulfilling for our team and investors to see the rapid progress in that journey. These significant achievements are a testament to PSLs unwavering commitment to revolutionizing the luxury fashion industry.Since acquiring Pernias Pop-Up Shop in 2018, PSL has opened 15 Pernias Pop-Up Studio experience centres across prominent cities like Mumbai, Delhi, Bengaluru, Hyderabad, Kolkata, and Ahmedabad and an international store in Mayfair, London. The company is also looking to invest growth capital in younger labels and continue acquiring mature brands as part of the vision to make PSL Indias largest luxury fashion house.It opened its most ambitious experience centre in November 2022, spanning 50,000 sq. The team of expert in-store stylists meticulously caters to your needs in bridal consultation lounges depicting true grandeur.The company has also launched Pernias Pop-Up Studio. The dedicated menswear destination has seen tremendous response from Indias fashion-savvy male audience and is now one of the biggest luxury retail platforms for men.