Salman & Sachin Join $12M Funding for Purple Style Labs

Luxury fashion platform Purple Style Labs (PSL), the parent company of Pernia’s Pop-Up Shop (PPUS), has secured ₹102 crore ($12 million) in a fresh funding round, backed by over 80 investors, including Salman Khan, Sachin Tendulkar, and Shraddha Kapoor.

Regulatory filings reveal that PSL’s board approved the issuance of 2,040 preference shares at ₹5,00,000 per share to raise funds. Institutional investors such as Minerva Ventures Fund, Cordelia Family Trust, S Four Capital, and Sopariwala Exports contributed substantial amounts, while prominent individual investors, including Surya Kumar Yadav, Sailesh Gupta, Pravesh Dhandhania, and Fahim Sultan Ali, also participated.

The funds will be utilized for working capital and corporate expansion. With this funding, PSL’s valuation is estimated at $400 million. Founded in 2015 by Abhishek Agarwal, PSL has grown significantly since acquiring Pernia’s Pop-Up Shop in 2018, expanding to 15 experience centers across India and London.

PSL reported a 36% revenue growth, reaching ₹508 crore in the last fiscal year, though losses widened by 20% to ₹45.6 crore. The company is preparing for an IPO in 2026, targeting $200 million in gross sales in the upcoming year, marking a significant milestone in its journey.