Online luxury fashion store Pernia's Pop Up Shop aims to expand across all modes of retail channels. The store has partnered Purple Style Labs (PSL) to form a joint venture. The JV will invest Rs 20 crore in PSL sourced from high networth investors including Flipkart’s Binny Bansal, PayU India’s Jitendra Gupta and Astarc Ventures. Existing investors including Calcutta Angels, Operator VC also participated in the round.
The capital will be used for building an omni channel sales network for Pernia’s Pop Up Shop and also expand its home grown brand. The JV also plans to scale Indian designer brands growth, both in the domestic and international markets.
Through this partnership, PSL will build 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 also plan to organise 10 editions of Pernia's Pop-Up Show in the next season including six international events, starting July 2018. In addition, the companies have planned 10 multi-designer stores in major cities this year including Mumbai, Delhi and 3 international locations.
