29 June 2022, Mumbai:
Owner of Pernia’s Pop-Up Shop, Purple Style Labs (PSL) has raised $10 million in Series B-round from actor Madhuri Dixit Nene and a clutch of investors.
Led by Akash Bhansali, Director, Emam Holdings, the Series-B funding round was attended by investors Madhuri Dixit; Navroz Udwadia, Co-founder, Alpha Wave etc.
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Abhishek Agarwal, Founder acquired Pernia’s Pop-Up Shop about four years ago. He said, 75 per cent of the company’s online sales come from international markets. The omni-channel platform currently retails about 800 designer brands including designers such as Tarun Tahiliani, Anita Dongre, Rohit Bal, Ritu Kumar, Gaurav Gupta, Amit Aggarwal, Masaba and Anushree Reddy amongst others.
According to data from research firm McKinsey’s ‘FashionScope’, India’s apparel market will be worth $59.3 billion this year, making it the sixth largest in the world, comparable to the United Kingdom’s ($65 billion) and Germany’s ($63.1 billion).
