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In 2018, Purple Style Labs acquired multi-brand luxury fashion platform ‘Pernia’s Pop-up Shop’.
Purple Style Labs, the company of Abhishek ‘Monty’ Aggarwal, who studied at IIT Bombay and worked in banking at Deutsche Bank, is coming up with its IPO. Celebrities like Shahrukh Khan, Salman Khan, Sachin Tendulkar and Madhuri Dixit have investments in this company.
Know how an aerospace engineer created an empire worth Rs 4,600 crore in the world of luxury fashion by taking over the space of Zara’s store in Mumbai…
Question 1. What are the main details of Purple Style Labs IPO?
answer: Purple Style Labs has set the price band at ₹546 to ₹575 per share for its ₹680 crore IPO. This IPO will open for subscription on August 31 and will close on September 2. The total valuation of the company at the upper end of the price band is estimated at around ₹4,600 crore.
Question 2. Who is the founder of the company and what is his background?
answer: The founder and head of the company is Abhishek ‘Monty’ Agarwal. He holds BTech and MTech degrees in Aerospace Engineering from IIT Bombay. After graduation, he started his career as an Equity Derivatives Structurer at ‘Deutsche Bank’.
The founder and head of the company is Abhishek ‘Monty’ Agarwal.
Question 3. How did he leave aerospace engineering and banking and enter fashion business?
answer: Abhishek was interested in luxury products and clothing business. Without any formal fashion education or experience, she left banking in 2015.
After this, the foundation of Purple Style Labs (PSL) was laid. His vision was to bring together India’s biggest designer brands, technology, retail and distribution on a single platform.
Question 4. What was the biggest turning point in the company’s growth?
answer: In 2018, Purple Style Labs acquired multi-brand luxury fashion platform ‘Pernia’s Pop-up Shop’. This takeover proved to be a game-changer for the company, making Indian designer wear easier to access for domestic and foreign customers.
Question 5. What is the matter related to the building located at Flora Fountain in Mumbai?
answer: In February 2025, international brand Zara closed its flagship store located in Ismail Building, Mumbai. Purple Style took over this 5 storey and space spread over approximately 60 thousand square feet. This further strengthened the company’s dominance in the Indian fashion industry.
Question 6. Which big celebrities and investors are associated with this company?
answer: Shareholders of Purple Style Labs include many leading Bollywood and sports personalities. These mainly include names like Shahrukh Khan, Salman Khan, Sachin Tendulkar and Madhuri Dixit. Apart from this, many institutional and major startup investors have also invested in the company.
Question 7. How big is the company’s current business model and network?
answer: The company is not just an online marketplace but runs an omnichannel model combining digital sales and physical experience centres.
The company has a network of more than 1,300 designers in its portfolio. Apart from this, the company has also acquired renowned fashion labels like Wendell Rodricks and Hemant Trivedi.
Question 8. What is the financial condition of Purple Style Labs?
answer: The company’s operational revenue increased by 13.9% to ₹557.8 crore in FY26 from ₹489.9 crore in FY25. However, due to business expansion and aggressive investments, the company’s net loss widened to ₹285.4 crore in FY26 from ₹188.4 crore last year.
Question 9. What is the big takeaway for the business world and entrepreneurs from this entire journey?
answer: Abhishek Aggarwal’s journey shows that success can be achieved with the right business model despite not having core domain knowledge. Instead of becoming a fashion designer himself, he focused on the business of fashion, distribution, brand acquisition and building a tech-driven platform.
Knowledge Part: Know what is omnichannel fashion model?
Omnichannel means connecting online and offline shopping. That means customers can buy goods from the mobile app or directly go to the shop. They get the same facilities, prices and options at both the places.
Tips for retail investors
The company’s revenue is increasing, but losses have also increased from ₹188.4 crore to ₹285.4 crore. Take the decision to invest in IPO only after keeping in mind the competition and burn rate in the high luxury segment.
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