Purple Style Labs’ (PSL) consolidated net loss for FY26 widened by 51.5% to ₹285.4 Cr compared to a loss of ₹188.4 Cr incurred in the previous year
The company filed its red herring prospectus (RHP) for initial public offering, and the IPO comprises only a fresh issue of shares worth up to ₹680 Cr
Operating revenue for the fiscal increased by about 14% to ₹557.8 Cr from ₹489.9 Cr in the previous fiscal year
Pernia Pop Up Shop’s parent Purple Style Labs’ (PSL) consolidated net loss for the year ending March 31, 2026 (FY26) widened by 51.5% to ₹285.4 Cr compared to a loss of ₹188.4 Cr incurred in the previous year.
Operating revenue for the fiscal increased by about 14% to ₹557.8 Cr from ₹489.9 Cr in the previous fiscal year. Including other income of ₹9.2 Cr, the IPO-bound company’s total income for the fiscal rose 14.8% to ₹567.1 Cr.
Pernia’s gross merchandise value (GMV) for the fiscal year increased 23% YoY to ₹721.6 Cr. The company’s international GMV contribution declined from 28.38% in FY25 to 20.3% in FY26, while US GMV fell from ₹97.4 Cr to ₹76.8 Cr.
This comes despite the company opening its New York store in February 2026 and positioning international expansion as a key growth opportunity.
Founded in 2015 by Abhishek Agarwal, Purple Style Labs operates multi-brand luxury omnichannel fashion platform Pernia’s Pop-Up Shop. Selling via its D2C platform as well as 12 experience centres, the company sells luxury fashion, sourced from 1,109 active designer brands.
These designer brands include Seema Gujral, Anushree Reddy, Amit Aggarwal, Rohit Gandhi & Rahul Khanna.
The company’s product categories span across womenswear, menswear, and others including jewelry, accessories and kidswear, with a focus on wedding and occasion wear. The company served a total of 66,713 customers in the fiscal, down 6% from 70,651 in FY25.
It has raised a private equity funding of about $78 Mn till date from investors like Harish Shah Family Office, Masaba Gupta, among others.
The company filed its red herring prospectus (RHP) for initial public offering, and the IPO comprises only a fresh issue of shares worth up to ₹680 Cr, with no offer for sale component.
Pernia’s parent filed its draft IPO papers with SEBI in September 2025 and got the regulator’s approval to proceed with the IPO in January.
A huge portion of the net proceeds will be used to fund lease liabilities of Pernia’s Pop Up Stores’ experience center networks, while the remaining will fund sales and marketing expenses till FY30.
Zooming Into PSL’s Expenses
The company spent an overall of ₹734.5 Cr in the year under review for all its expenses, marking a 31% increase from the previous year’s ₹559.6 Cr. Here is a breakdown of its total expenditure:
- Depreciation And Amortisation Expenses: Spending under this head rose 84.4% to ₹100.7 Cr in the year under review, from ₹54.6 Cr in FY25.
- Purchases Of Stock-In-Trade: Constituting 47.6% of the overall costs, expenses under this area stood at ₹349.8 Cr, marking a 15.6% increase from ₹302.6 Cr in the previous year.
- Employee Benefit Expenses: Employee costs including gratuity, wages, provident fund and others stood at ₹82 Cr in FY26, up 23.9% from ₹66.2 Cr in the previous fiscal.