Pernia Qureshi’s fashion journey started with a simple idea: make India’s designer wear easier to discover and buy online.
In 2012, she launched Pernia’s Pop-Up Shop with just 10-12 designers. More than a decade later, the business has grown into a multi-brand luxury fashion platform with 1,109 active designer brands, 14 Experience Centers and a Rs 680-crore .
The journey has taken the brand from a small online fashion store to a business serving customers in India and international markets.
Qureshi’s move into fashion entrepreneurship came after her work as a stylist and as the costume designer for the 2010 film Aisha. In an interview with Vogue India, she said her experience during the film helped her understand the talent in India’s fashion industry.
She also noticed a gap in the market — there was no luxury online multi-designer boutique that brought several Indian designers together.
“I wanted to start something of my own,” Qureshi told Vogue India.
That idea became Pernia’s Pop-Up Shop in 2012. Qureshi started small, bringing just 10-12 designers onto the platform.
“I never thought I was building a fashion empire,” she said, explaining that her aim was to build something “good, sustainable and useful”.
The business gradually expanded beyond its online roots, moving into physical retail and adding a mobile application and other sales channels.
Purple Style Labs, incorporated in August 2015, later became the parent company of the business. According to its IPO documents, it operates Pernia’s Pop-Up Shop as a multi-brand luxury omnichannel fashion platform.
Under Purple Style Labs, Pernia’s Pop-Up Shop moved towards an omnichannel model, combining online shopping with physical retail.
The company built its network of Experience Centres, giving customers the option of shopping for designer fashion both online and in stores. By March 31, 2026, it had 14 Experience Centres globally — 12 in India, one in London and one in New York, according to its Red Herring Prospectus.
The range of products has also expanded. The platform now covers womenswear, menswear, jewellery, accessories and kidswear, with a focus on wedding and occasion wear.
The number of designer brands has grown sharply too. According to the company’s IPO documents, Pernia’s Pop-Up Shop sourced products from 1,109 active designer brands as of March 31, 2026. These include Seema Gujral, Anushree Reddy, Amit Aggarwal and Rohit Gandhi & Rahul Khanna.
The company now serves customers across India, the US, UK, Middle East, Australia and other markets.
Its model is built around bringing several designer brands onto one platform. This allows customers to access Indian luxury fashion in one place, while designers can reach domestic and international buyers without having to build their own retail and distribution networks.
The next chapter for the business is the stock market.
According to the company’s Red Herring Prospectus, the Purple Style Labs IPO is a Rs 680-crore book-built issue, comprising a fresh issue of up to 1.18 crore equity shares. There is no offer-for-sale component.
The IPO opened for public subscription on August 31, 2026, and will close on September 2, 2026. The basis of allotment is expected to be finalised on September 3, while the shares are tentatively scheduled to list on the BSE and NSE on September 7.
The fresh capital will be used to support the company’s expansion and operations. According to its IPO disclosures, a significant portion will go towards lease liabilities, while some funds will be used for sales and marketing and general corporate purposes.
Purple Style Labs plans to expand in key luxury markets, deepen its customer base and improve engagement and retention. It also wants to optimise its designer-brand mix and product categories while focusing on profitability and cost efficiency.
But the IPO also comes with challenges.
Religare Broking has highlighted the company’s volatile financial performance, negative profitability and weak margins. It also pointed to declining PPUS order volumes, pressure from a rising cash conversion cycle and negative return on equity.
“Although the Company has growth opportunities in the luxury fashion market, these financial and operational concerns create uncertainty around its near-term performance and earnings potential. Hence, we assign a Neutral rating,” Religare Broking said.
For a venture that began with just 10-12 designers, the transformation is significant. What started as Qureshi’s attempt to fill a gap in India’s online luxury market has grown into a global fashion platform, and is now preparing to make the transition from a private fashion business to a listed company.