Pernia's Pop-Up Shop Parent Purple Style Labs Plans IPO By August-end

Purple Style Labs, the parent of Pernia's Pop-Up Shop, is planning to launch its initial public offering (IPO) by the end of August as India's luxury and wedding markets continue to expand.

The company has filed its updated Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi). It received Sebi approval for the public issue in January 2026.

The IPO comes amid rising demand across India's wedding and luxury consumption markets. India's wedding industry has crossed ₹10 lakh crore, while the wedding-wear segment is projected to reach ₹3.4 lakh crore by FY30. The personal luxury market is expected to reach ₹2.31 lakh crore.

Pernia's Pop-Up Shop Expands Designer Network

Pernia's Pop-Up Shop has more than 1,300 designers and over two lakh products across its digital platform and 14 experience centres.

The platform recorded a gross merchandise value (GMV) of more than ₹588 crore in FY25, with an average order value of ₹56,106. Repeat customers accounted for up to 28%, indicating a growing base of higher-value customers.

The company recorded more than 11 times revenue growth from FY20 to FY24, with revenue increasing from ₹45 crore to ₹508 crore during the period. This translates into an approximately 83% compound annual growth rate (CAGR).

Purple Style Labs is also expanding its retail footprint, including the flagship Pernia's Pop-Up Studio at Fort in Mumbai and experience centres on Linking Road in Mumbai and Madison Avenue in New York.

SRK, Sachin Tendulkar Among Investors

Purple Style Labs is promoted by Abhishek Agarwal, who holds a 27.10% stake in the company.

The company is backed by institutional investors including Akash Bhanshali, Mukul Agarwal and Singularity, along with family offices, private investors and publicly disclosed celebrity investors.

Its celebrity investor base includes Shah Rukh Khan, Salman Khan and family, Sachin Tendulkar, Madhuri Dixit and Mahesh Babu.

The company is seeking to capitalise on the expansion of India's organised luxury fashion market, as consumers increasingly spend on premium and designer apparel.

Axis Capital and IIFL Capital are advising Purple Style Labs on its proposed IPO.