Purple Style Labs launches Rs 600 crore IPO

Parent company of the multi-brand luxury fashion platform Pernia’s Pop-Up Shop, Purple Style Labs (PSL) has filed its Draft Red Herring Prospectus (DRHP) with SEBI, announcing plans for an Initial Public Offering (IPO) aiming to raise up to Rs 660 crore. This capital move reflects the company’s impressive and sustained growth within India’s premium and luxury fashion market.

Managed by Axis Capital and IIFL Capital Services, the IPO is a crucial step in scaling operations and cementing PSL's leadership in the luxury sector. Founded in 2014, PSL has quickly established itself as one of the country’s largest multi-brand luxury platforms. The company offers an extensive catalog of over 2.1 lakh SKUs from more than 1,300 designer brands, spanning womenswear, menswear, jewelry, kidswear, and accessories.

PSL’s revenue has seen spectacular growth, rising to Rs 508 crore in FY24 from just Rs 45 crore in FY20. This represents a robust Compound Annual Growth Rate (CAGR) of 83 per cent, significantly outpacing many established luxury competitors. The company has also demonstrated improved profitability with EBITDA margins rising from 0.59 per cent in FY23 to 8.57 per cent in FY25.

The company employs a powerful omni-channel strategy, blending a strong digital presence with high-touch physical retail. The online platform recorded 18.57 million unique visitors in FY25. This digital reach is complemented by premium Experience Centers located in key Indian cities (Mumbai, Delhi, Bengaluru, Hyderabad) and an initial international location in London.