Pernia’s Pop-Up Shop parent Purple Style Labs raises ₹10 cr from Klub

  • The Mumbai-based fashion e-commerce platform raised capital to grow in the Indian retail space

Varuni Khosla
Published14 Sep 2022, 10:05 AM IST
Pernia’s Pop-Up Shop has 10 stores and an online presence.
Pernia’s Pop-Up Shop has 10 stores and an online presence.

Purple Style Labs, the company that runs Pernia’s Pop-Up Shop and Wendell Rodricks, has received a fresh round of funding of 10 crore from financing platform Klub. 

The company, which raised $10 million earlier this year, said it would use this fresh funding to expand its footprint geographically. 

Klub has a fund and also gives companies access to capital through NBFCs, HNIs, and other financial institutions and is backed by Sequoia Capital’s Surge, US-based Alter Global and others.

In June, the company’s Series-B round was led by Akash Bhansali, director, Enam Holdings and saw participation from investors such as Madhuri Dixit; Navroz Udwadia, co-founder of Alpha Wave Global; Yuj Ventures; Sid Yog, founder of the Xander Group; Rahul Garg, partner at Premji Invest; Mukul Agrawal, founder of Param Capital, among others.

It acquired Pernia’s Pop-Up Shop in 2018 and has 10 stores and an online presence. It said it retails about 1000 designers like Tarun Tahiliani, Anita Dongre, Rohit Bal, Ritu Kumar, Shyamal and Bhumika, Falguni Shane Peacock, Amit Aggarwal, House of Masaba etc.

“We are very focussed leading the market by combining scale with our curation (of brands). Our raise from Klub will fuel our growth in the Indian luxury retail space," said Abhishek (Monty) Agarwal, founder.

The company will also expand into international markets with retail stores in New York and Dubai in the next 12-18 months.

Anurakt Jain, co-founder and CEO of Klub said, “As the festive and wedding season in India is here, the demand for luxury Indian and western wear is also going to see a considerable spike. The fashion industry is slated to see exponential growth this year and we are excited to work with them during this phase.”

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).

Catch all the Business News , Corporate news , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

MoreLess
First Published:14 Sep 2022, 10:05 AM IST
Business NewsCompaniesStart-upsPernia’s Pop-Up Shop parent Purple Style Labs raises ₹10 cr from Klub

Get Instant Loan up to ₹10 Lakh!

  • Employment Type

    Most Active Stocks

    Tata Steel share price

    149.70
    07:18 PM | 1 NOV 2024
    1.05 (0.71%)

    Indian Oil Corporation share price

    145.00
    07:19 PM | 1 NOV 2024
    2.3 (1.61%)

    Tata Power share price

    445.20
    07:19 PM | 1 NOV 2024
    5.15 (1.17%)

    Bandhan Bank share price

    183.65
    07:10 PM | 1 NOV 2024
    1.4 (0.77%)
    More Active Stocks

    Market Snapshot

    • Top Gainers
    • Top Losers
    • 52 Week High

    Rainbow Childrens Medicare share price

    1,545.00
    06:59 PM | 1 NOV 2024
    -67.25 (-4.17%)

    ICICI Securities share price

    833.45
    06:59 PM | 1 NOV 2024
    -32.85 (-3.79%)

    Vijaya Diagnostic Centre share price

    966.70
    06:59 PM | 1 NOV 2024
    -30.35 (-3.04%)

    Narayana Hrudayalaya share price

    1,235.60
    06:59 PM | 1 NOV 2024
    -36.75 (-2.89%)
    More from Top Losers

    Brigade Enterprises share price

    1,244.80
    07:19 PM | 1 NOV 2024
    71.75 (6.12%)

    PCBL share price

    432.15
    07:17 PM | 1 NOV 2024
    21.35 (5.2%)

    Piramal Pharma share price

    281.85
    07:17 PM | 1 NOV 2024
    13.45 (5.01%)

    Jubilant Pharmova share price

    1,273.00
    06:59 PM | 1 NOV 2024
    60.65 (5%)
    More from Top Gainers

    Recommended For You

      More Recommendations

      Gold Prices

      • 24K
      • 22K
      Bangalore
      80,565.00-790.00
      Chennai
      80,571.00-790.00
      Delhi
      80,723.00-790.00
      Kolkata
      80,575.00-790.00

      Fuel Price

      • Petrol
      • Diesel
      Bangalore
      102.92/L-0.06
      Chennai
      101.23/L0.43
      Kolkata
      104.95/L0.00
      New Delhi
      94.77/L0.00

      Popular in Companies

        HomeMarketsloanPremiumMint Shorts