Purple Style Labs

About Purple Style Labs

Purple Style Labs (PSL) operates as a luxury fashion house, building an ecosystem for high-end Indian designer wear through an omnichannel model. Founded in 2015 by Abhishek Agarwal, the Mumbai-based company aims to become India's largest luxury fashion entity, mirroring global powerhouses like LVMH.

Abhishek Agarwal, an IIT-Bombay alumnus with a background in aerospace engineering and a former role as an Equity Derivatives Structurer at Deutsche Bank, identified a market opportunity to connect the fragmented Indian designer industry with the corporate and financial world. This transition from finance to fashion was driven by his personal interest in the luxury sector and a vision to build a platform that fosters the growth of Indian designers by providing end-to-end solutions in design, production, and marketing.

A pivotal moment in PSL's history was the acquisition of Pernia's Pop-Up Shop in 2018, an e-commerce platform for multi-brand luxury ethnic wear. This strategic move was central to PSL's strategy, scaling the acquired platform over 100-fold in less than seven years and transforming it into a major destination for luxury Indian fashion. The business generates revenue primarily through the sale of designer fashion and lifestyle products, including apparel, jewelry, and accessories from over 800 designers like Tarun Tahiliani and Anita Dongre. Sales are driven through its online channel, which contributes significantly to international revenue, and a growing network of physical experience centers.

Expanding its portfolio, PSL has also acquired legacy brands such as the resort wear label Wendell Rodricks and Hemant Trevedi, aiming to revitalize and scale them for a global audience. The company operates more than 15 Pernia's Pop-Up Shop experience centers in major Indian cities like Mumbai, Delhi, and Bengaluru, as well as an international outpost in London, strengthening its omnichannel presence. This strategy allows customers to discover products online and experience them in physical stores. With a reported revenue of ₹372 crore in FY23 and consolidated revenue exceeding ₹500 crore in FY24, the company has demonstrated substantial growth and is targeting a potential IPO in 2026.