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Through this partnership, PSL aims at building a giant luxury fashion house based out of India, in the form of a strong multi-brand retailing platform, with international focus. PSL and PPUS plan to organise 10 editions of Pernia's Pop-Up Show in the next season including 6 international events. In addition to these, the companies have planned 10 multi-designer stores in major cities this year including Mumbai, Delhi and 3 international locations. The joint venture aims to become the largest Indian multi-brand retailer in the Luxury category in a short span. They are also in a great position to leverage both online and offline channels with immense growth potential in the luxury fashion industry.
Established in 2012 by Pernia Qureshi, Pernia’s Pop Up Shop has already built a strong foothold globally and is the market leader in selling Indian designer-wear from their website. The joint venture has already expanded into offline stores called 'Pernia's Pop-Up Studio' in Mumbai and Delhi and has plans to start international stores soon. Purple Style Labs was founded in 2015 by Abhishek Agarwal, with the aim to create the first tech enabled luxury fashion house out of India that incubates young designer brands and provides them with sales, marketing and technical support.
Purple Style Labs has raised an investment round of $3 million from ace investors like Binny Bansal (Flipkart Co-founder), Jitendra Gupta (Founder, Citrus Pay and MD, PayU India), Astarc Ventures and along with participation from existing investors of Calcutta Angels, Operator VC and others. The capital will be utilised in building an omni-channel sales network for Pernia’s Pop Up Shop and also to expand their home grown brand.
"Pernia’s Pop-Up Shop has been a labour of love where we celebrate Indian design. We have always prided ourselves in not only selling the best names in the industry, but also nurturing and discovering new talent. I am so pleased to be reaching out to an even larger audience and spreading our love for Indian fashion far and wide, in both domestic and international markets. We are excited to finally begin our journey towards accelerated growth and expansion with PSL," Pernia Qureshi said.
"Pernia’s Pop-Up Shop shall act as an important catalyst in our journey of building a globally renowned fashion house out of India. We believe that in years to come, premium fashion will be one of the highest growth sectors and PSL shall be the forerunner in India’s fashion story," said Abhishek Agarwal, founder, Purple Style Labs. (RR)
Fibre2Fashion News Desk – India
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