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Fashion brands incubator Purple Style Labs raises $10-M Series B

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Mumbai-based luxury fashion e-commerce platform Purple Style Labs (PSL) has raised USD 10 million in a Series B round led by Akash Bhansali (Director, Enam Holdings). The round also saw participation from Madhuri Dixit Nene (Actor), Navroz Udwadia (Co-founder, Alpha Wave Global), Yuj Ventures/Sid Yog (Founder, Xander Group), Rahul Garg (Partner, Premji Invest), Mukul Agrawal (Founder, Param Capital), Rahul Kayan (Director, SMIFS Ltd), Girish Kulkarni (Suyash Advisors), Harminder Sahni (Wazir Advisors), Rishi Vasudev (Co-founder, G.O.A.T. Brand Labs), Vineet Gautam (CEO, Bestseller India), and Sumit Jalan. Founded in 2015, Purple Style Labs incubates young designer brands and helps them with sales, marketing, and technical support, including Pernia's Pop-Up Shop. The company has opened 10 Pernia's Pop-Up Studio experience centres in Mumbai, Delhi, Bengaluru, Hyderabad, Kolkata, Ahmedabad, and a global store in London. It also acquired the fashion label Wendell Rodricks in December 2020. PSL plans to open retail stores in New York and Dubai in the next 12-18 months.