SRK, Salman-backed fashion clothes company Purple Style Labs brings IPO:Investment starts from ₹546 per share

Abhishek Monty Agarwal, who studied at IIT Bombay and worked in banking at Deutsche Bank, is bringing his company Purple Style Labs’ IPO to the market. The company has investments from celebrities such as Shah Rukh Khan, Salman Khan, Sachin Tendulkar, and Madhuri Dixit. Learn how an aerospace engineer took over the space of a Zara store in Mumbai and built a ₹46-billion empire in the world of luxury fashion: Question 1. What are the key details of Purple Style Labs’ IPO? Answer: Purple Style Labs has set a price band of ₹546 to ₹575 per share for its ₹6.8-billion IPO. The IPO will open for subscription on August 31 and close on September 2. At the upper end of the price band, the company’s total valuation is estimated at approximately ₹46 billion. 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 earned BTech and MTech degrees in Aerospace Engineering from IIT Bombay. After graduating, he began his career at Deutsche Bank as an equity derivatives structurer. Question 3. How did he enter the fashion business after leaving aerospace engineering and banking? Answer: Abhishek was interested in luxury products and the apparel business. Without any formal fashion education or experience, he left banking in 2015. After that, he laid the foundation for Purple Style Labs (PSL). His vision was to bring India’s leading designer brands, technology, retail, and distribution together on a single platform. Question 4. What was the biggest turning point in the company’s growth? Answer: In 2018, Purple Style Labs acquired the multi-brand luxury fashion platform ‘Pernia’s Pop-Up Shop.’ This takeover proved to be a game-changer for the company, making it easier for Indian designer wear to reach domestic and international 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 in Mumbai. Purple Style took over this five-storey space, spread across approximately 60,000 square feet. This further strengthened the company’s dominance in the Indian fashion industry. Question 6. Which major celebrities and investors are associated with this company? Answer: Purple Style Labs’ shareholders include several prominent Bollywood and sports personalities. These primarily include names such as Shah Rukh Khan, Salman Khan, Sachin Tendulkar, and Madhuri Dixit. In addition, several institutional and prominent startup investors have also invested in the company. Question 7. How large is the company’s current business model and network? Answer: The company is not merely an online marketplace; rather, it operates an omnichannel model that combines digital sales with physical experience centers. The company’s portfolio includes a network of more than 1,300 designers. In addition, the company has acquired renowned fashion labels such as Wendell Rodricks and Hemant Trivedi. Question 8. What is the financial condition of Purple Style Labs? Answer: In fiscal year 2026, the company’s operational revenue grew by 13.9% to ₹557.8 crore, compared to ₹489.9 crore in FY25. However, due to business expansion and aggressive investments, the company’s net loss increased to ₹285.4 crore in FY26, compared to ₹188.4 crore the previous year. Question 9. What is the biggest takeaway from this entire journey for the business world and entrepreneurs? Answer: Abhishek Agarwal’s journey shows that success can be achieved with the right business model even without core domain knowledge. Instead of becoming a fashion designer himself, he focused on the business of fashion, distribution, brand acquisition, and building a technology-driven platform. Knowledge Part: What is the omnichannel fashion model? Omnichannel means integrating online and offline shopping. In other words, whether customers buy products through a mobile app or visit a store directly, they get the same experience, prices, and options in both places. Tips for Retail Investors The company’s revenue is increasing, but its loss has also risen from ₹188.4 crore to ₹285.4 crore. Consider the competition in the high-luxury segment and the burn rate before deciding to invest in the IPO.