About the Business
Incorporated in August 2015, Purple Style Labs Limited is a premier multi-brand luxury omni-channel fashion platform operating under the well-known flagship brand Pernia’s Pop-Up Shop (PPUS). The company offers a curated portfolio of luxury fashion products across womenswear, menswear, jewellery, accessories, and kidswear, with a strong core focus on wedding, occasion, and couture fashion.
As of March 31, 2026, the company aggregates luxury collections from 1,109 active designer brands, including Seema Gujral, Amit Aggarwal, Anushree Reddy, and Rohit Gandhi & Rahul Khanna. Its retail presence spans an omni-channel ecosystem comprising 14 Experience Centers globally (12 across major Indian metropolitan cities, plus flagship international stores in London and New York), alongside its proprietary website, mobile application, and high-touch private client services.
- Premier luxury retail platform with 1,109 designer relationships and access to high-net-worth global clientele.
- Omni-channel global presence with 14 Experience Centers across India, London, and New York.
- High customer engagement metrics: recorded ₹721.56 Cr (₹7,215.62 million) in Total PPUS GMV with an Average Order Value (AOV) of ₹75,504.88 in FY26.
- Extensive cross-border reach serving clients across the US, UK, Middle East, and Australia.
The company’s promoter is Abhishek Agarwal, Promoter, Whole-Time Director, and CEO.
Financial Overview
Purple Style Labs Ltd. saw revenue expand by 15% to ₹567.07 Cr in FY26. However, net losses expanded significantly to ₹-285.40 Cr, leading to a negative consolidated net worth at the end of the fiscal year.
| Metric (₹ Cr) | FY 2026 | FY 2025 | FY 2024 |
|---|---|---|---|
| Total Income | ₹567.07 | ₹494.00 | ₹510.03 |
| EBITDA | ₹30.37 | ₹41.99 | ₹31.63 |
| PAT (Profit After Tax) | ₹-285.40 | ₹-188.38 | ₹-47.71 |
| Net Worth | ₹-52.28 | ₹117.50 | ₹39.51 |
| Reserves & Surplus | ₹-116.40 | ₹118.01 | ₹39.34 |
| Total Borrowings | ₹371.40 | ₹112.79 | ₹116.33 |
| Total Assets | ₹829.60 | ₹497.05 | ₹458.39 |
Restated Consolidated Figures | Source: RHP Filings
Key Financial Metrics (FY26)
Issue Reservation
| Investor Category | Allocation Limit |
|---|---|
| QIB Shares Offered | Not less than 75% of the Issue |
| NII (HNI) Shares Offered | Not more than 15% of the Issue |
| Retail (RII) Shares Offered | Not more than 10% of the Issue |
Objects of the Issue
The net proceeds from the ₹680.00 Cr 100% fresh issue are proposed to be utilized towards:
- Investment in wholly owned subsidiary (PSL Retail) towards lease liabilities of Experience Centers and back-end offices ₹371.13 Cr
- Funding sales and marketing expenses to enhance brand visibility and customer acquisition ₹138.90 Cr
- General Corporate Purposes Balance
Purple Style Labs Limited has established strong market leadership in the premium Indian designer apparel and luxury occasion wear segment under the Pernia’s Pop-Up Shop banner, achieving high average ticket sizes (AOV of ₹75,504) and global brand pull.
However, the financial profile is burdened by significant net losses (-₹285.40 Cr in FY26) and a negative net worth (-₹52.28 Cr), largely driven by aggressive physical footprint expansion, lease liabilities, and marketing expenditures. Deploying ₹371.13 Cr toward lease settlements will ease cash-flow pressure. The issue structure is heavily weighted toward institutional investors (75% QIB and only 10% Retail). Given the loss-making status and negative P/E valuation, this IPO is suitable only for aggressive, high-risk investors willing to take a long-term turnaround view on Indian luxury retail.
