Debt financing
Fashion player Purple Style Labs raises Rs.162-Cr
Mumbai-based Purple Style Labs (PSL), the parent firm of luxury fashion house Pernia’s Pop Up Shop, has raised INR 162.5 crore (USD 17 million) in debt. The fundraising occurred across 14 tranches between January and June, following a regulatory nod from the Securities and Exchange Board of India (SEBI) for its upcoming initial public offering (IPO).The financing was sourced from a mix of institutional investors and individual backers. California-based Kairos Ventures contributed INR 20 crore, while Real Capital Financial Services invested INR 15 crore. Additionally, Mumbai-based textile importer Texport International invested INR 2 crore. The round also saw participation from various angel investors, family offices, and high-net-worth individuals.Founded in 2015 by Abhishek Agarwal, Purple Style Labs operates an omnichannel luxury fashion platform featuring various designer brands. In FY25, the company reported a net loss of INR 189 crore, primarily driven by exceptional costs related to employee stock ownership plans (ESOPs).
Between Oct 2015 and Dec 2024, Purple Style Labs had attracted about $84-M from Touchstone Capital, Volrado Ventures, Yuj Ventures, Singularity AMC, ValueQuest and others.
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