Purple Style Labs likely launching ₹660 cr IPO end August
Business
Purple Style Labs, the parent company behind Pernia's Pop-Up Shop, is likely to launch a ₹660 crore IPO by the end of August.
After getting SEBI's nod earlier this year, they're raising funds to clear lease liabilities for its retail spaces and offices, plus boost marketing and support general business needs.
PSL revenue rose to ₹508 cr
Promoted by Abhishek Agarwal and backed by stars like Shah Rukh Khan, Salman Khan, and Sachin Tendulkar, PSL has seen its revenue jump from ₹45 crore in FY20 to ₹508 crore in FY24, an impressive 83% annual growth.
With over 1,300 designers on board and India's luxury and wedding markets booming (wedding-wear alone expected to hit ₹3.4 lakh crore by FY30), PSL is aiming to make a bigger mark in high-end fashion.