What Is Purple Style Labs? The brand which is paying Rs 30000000 rent per month for…., check its Madhuri Dixit connection

By renting this iconic space in South Mumbai, already known among customers for famous fashion brand Zara, PSL can target premium SOBO customers.

Purple Style Labs (PSL), a Mumbai-based luxury fashion house, has taken over the 60,000-square-foot retail space previously occupied by fashion giant Zara in South Mumbai’s historic Fort area. Located in the 118-year-old Ismail Building at Flora Fountain, the store’s lease is set for five years, with a huge monthly rent of Rs 3 crore equivalent to Rs 10 lakh per day. Over the lease term, PSL will pay a total of Rs 206 crore, according to property documents obtained from Propstack.com.

Zara’s Exit From SoBo

Spanish fashion giant Zara vacated the space after nine years of operation, making way for PSL’s expansion into prime real estate.

Who Is Purple Style Labs

Founded in 2015 by Abhishek Agarwal, an IIT Bombay graduate, Purple Style Labs is a leading player in India’s luxury fashion segment. The company is known for curating and promoting Indian designer brands, bridging the gap between domestic markets and global audiences.

PSL’s portfolio includes renowned names such as Falguni Shane Peacock, Tarun Tahiliani, Seema Gujral, Amit Aggarwal, Gaurav Gupta, Shyamal & Bhumika, and Abhinav Mishra. Its offerings are available through both online and offline platforms, creating a seamless shopping experience for its clientele.

Purple Style Labs Achivements

Pernia’s Pop-Up Shop Acquisition (2018)

In February 2018, PSL acquired Pernia’s Pop-Up Shop, a multi-designer platform featuring over 500 of India’s leading designer brands. This move strengthened PSL’s hold in the luxury fashion market.

Expansion of Pernia’s Pop-Up Studio

In July 2018, they opened the first Pernia’s Pop-Up Studio in Juhu, Mumbai and also established the flagship studio at Kala Ghoda, South Mumbai. In 2019 they opened another studio at Bandra’s Waterfield Road.

Acquisition Of Wendell Rodricks’ Label (2020)

After the passing of iconic Goa-based designer Wendell Rodricks, PSL acquired his resort wear label in December 2020, further diversifying its brand portfolio.

Purple Style Labs in June 2022 raised $10 million in Series B funding from actor Madhuri Dixit Nene, Mukul Agarwal, Atul Gupta, Akash Bhansali and others.

Luxury Fashion Brand

PSL’s ability to blend heritage Indian designs with a modern retail approach has set it apart in the luxury market. Its latest move to secure the prestigious South Mumbai location reflects its ambitious vision and growing influence in the fashion industry.