- Purple Style Labs Limited, the parent of Pernia’s Pop-Up Shop, is planning to launch its IPO by the end of August 2026. The company has filed its updated DRHP with SEBI and received approval in January 2026.
- The IPO comes amid strong growth in India’s wedding and luxury consumption markets, with the wedding industry crossing ₹10 lakh crore and wedding wear projected to reach ₹3.4 lakh crore by FY30.
- Pernia’s Pop-Up Shop has over 1,300 designers and more than two lakh products across its digital platform and 14 experience centres, recording a gross merchandise value of over ₹588 crore in FY25.
- The company recorded more than 11x revenue growth from ₹45 crore in FY20 to ₹508 crore in FY2024, translating into an approximately 83% CAGR.
- Promoted by Abhishek Agarwal, who holds a 27.10% stake, Purple Style Labs is backed by a diversified base of institutional investors and celebrity investors including Shah Rukh Khan and Sachin Tendulkar.
Purple Style Labs, the parent of Pernia's Pop-Up Shop, is set to launch a ₹660-crore IPO by August-end, following SEBI's approval in January 2026. This decision aligns with the booming luxury and wedding markets in India, which have seen significant growth recently.1
The wedding industry in India has surpassed ₹10 lakh crore, with the wedding-wear segment projected to reach ₹3.4 lakh crore by FY30. Additionally, the personal luxury market is expected to grow to ₹2.31 lakh crore. Pernia's Pop-Up Shop, a key player in this sector, boasts over 1,300 designers and more than 200,000 products available through its digital platform and 14 experience centres.23
In FY25, the platform recorded a gross merchandise value (GMV) exceeding ₹588 crore, with an average order value of ₹56,106. Notably, 28% of its customers are repeat buyers, indicating a shift towards higher-value clientele. The company has experienced remarkable growth, with revenue soaring from ₹45 crore in FY20 to ₹508 crore in FY24, reflecting an impressive 83% CAGR.4
Promoted by Abhishek Agarwal, who holds a 27.10% stake, Purple Style Labs is backed by a diverse group of institutional investors, including Akash Bhanshali and Mukul Agarwal, as well as celebrity investors like Shah Rukh Khan and Sachin Tendulkar. The company is also expanding its retail presence with flagship locations in Mumbai and New York.5
Axis Capital and IIFL Capital are advising on the IPO.
“The IPO rides on India's booming wedding and luxury markets, with the wedding industry crossing ₹10 lakh crore and personal luxury expected to reach ₹2.31 lakh crore. Pernia's Pop-Up Shop boasts over 1,300 designers and recorded FY25 GMV of ₹588 crore, with repeat customers at 28%.”
