Mumbai based fashion Purple Style Labs has now acquired multi-brand e-commerce website Pernia’s Pop Up Shop for an undisclosed amount of funding.
With the help of this move, PSL aims to build an omnichannel platform for fashion, the company revealed in a report.
PSL is even pushing its Omni-channel fashion segment by acquiring equity stakes in the fashion brands. The company has also recently invested in the House of Masaba.
It has opened its nine offices with the multi-designer stores Pop up Studio and the Stylist in Delhi, Mumbai, Kolkata, and Bangalore. PSL has secured $8 Million since its operations in 2015.
PSL wants to open ten international stores and 20 domestics in the coming two years, the statement revealed. It also expects to achieve an annual revenue run rate of around $40 Million across the channels in the coming two years.
“We aim to aggregate this fragmented supply, curate assortment which enables discovery of high-quality products, channelize demand creatively and permanently solve the critical pain-points associated with the industry. We are also looking to invest in early-stage Indian designer brands as a part of a long-term strategy to significantly augment supply, distribution, inventory and reach,” said Abhishek Agarwal, founder, Purple Style Labs.