Purple Style Labs raises Rs 10 crore from Klub
Purple Style Labs, an omnichannel luxury fashion platform has raised Rs 10 crore ($1.2 million) from a revenue-based financing platform Klub. It had earlier raised $10 million as part of a Series B funding round in June.
The company will utilise the funds to expand its offline presence in India and overseas markets. It will also invest to strengthen its luxury brand portfolio on the platform.
Commenting on the funding, Abhishek Agarwal, founder of Purple Style Labs in a statement said, “We are very focussed on staying ahead of the curve and leading the market by combining scale with curation in ways that the Indian market has not seen before. Our raise from Klub will fuel our growth in the Indian luxury retail space.”
Anurakt Jain, co-founder CEO of Klub added, “As the festive and wedding season in India is here, the demand for luxury Indian and western wear is also going to see a considerable spike. The fashion industry is slated to see exponential growth this year and we are excited to work with them during this phase."
Purple Style Labs, which also runs Pernia's Pop-Up Shop is home to over 1,000 designer clothing brands including Wendell Rodricks, Anita Dongre, Tarun Tahiliani, Ritu Kumar, Falguni Shane Peacock, Masaba Gupta among many others.
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