Purple Style Labs, one of the leading luxury fashion houses in India, has raised $8 million (approx. Rs 66.7 crore) in the recent Series D funding round. The investment was led by Sanket Parekh of Pidilite Family Office, with participation from Signet (Harish Shah Family Office), Hira Group’s Family Office, and other investors. Existing investors also participated in the round, which included Neelesh Bhatnagar of NB Ventures, Singularity Growth Opportunities Fund I, Masaba Gupta (a fashion designer), Rahul Garg, and Atul Gupta.
Purple Style Labs is a luxury fashion house comprised of two multi-designer platforms, Pernia’s Pop-Up Shop and The Stylist. It has an omnichannel presence with both online and offline stores. The company believes in selling a lifestyle, not just a product, and tries to give their customers a memorable shopping experience. The brand specializes in the Indian designer wear fashion category, and it sells many renowned top designer labels under one platform.
The company’s founder and CEO is Abhishek Agarwal, and it is headquartered in Mumbai, Maharashtra, India.