Purple Style Labs

Purple Style Labs, founded in August 2015 and based in Mumbai, India, is a prominent player in the luxury fashion e-commerce sector. The company aims to connect fashion designers and stylists directly with consumers, providing a platform for personalized styling services and a diverse range of designer brands.

Business Model

Purple Style Labs operates as an omnichannel luxury fashion platform, integrating various elements of the fashion industry:

• Personal Styling Services: The platform connects consumers with wardrobe stylists and designers for personalized fashion advice.

• Designer Brands: It features a wide array of Indian designer brands catering to different demographics and styles.

• Technology Integration: The company utilizes technology to streamline operations and enhance customer experience throughout the apparel and lifestyle product value chain.

Growth and Expansion

• Purple Style Labs has experienced significant growth, achieving a reported revenue of approximately $211.1 million.

• The company has expanded its offerings to include over 800 Indian designer brands, with notable designers such as Tarun Tahiliani and Anita Dongre featured on their platform.

• In addition to online sales, which primarily cater to international markets (75% of sales), the company has opened physical stores under the Pernia’s Pop-Up Shop brand across major cities in India and internationally.

Recent Developments

• Purple Style Labs acquired Pernia’s Pop-Up Shop in 2018, which has been instrumental in its growth trajectory.

• The company has launched new verticals for men's clothing and accessories and opened several experience centers across India.

Investors

The company has attracted investments from notable individuals and groups, including:

• Madhuri Dixit Nene (actor)

• Akash Bhansali (director at Enam Holdings)

• Other investors include Rahul Garg, Masaba Gupta, Neelesh Bhatnagar, Singularity Ventures, and Hira Group.

Conclusion

Purple Style Labs is carving out a significant niche in India's luxury fashion market by leveraging technology to connect designers with consumers while providing personalized styling services. With its robust growth strategy, expanding product offerings, and strong backing from investors, the company is well-positioned for continued success in the evolving e-commerce landscape.