Purple Style Labs Ltd(PERNIASPOP)

NSE: PERNIASPOPBSE: 544901

₹ 504-2.52%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 4,035 crWebsite: purplestylelabs.comUpdated: 24 Oct 2026

About

Purple Style Labs Ltd (NSE: PERNIASPOP) operates Pernia's Pop-Up Shop, an online luxury and designer fashion platform focused on Indian ethnic and occasion wear. In FY26, the company generated GMV of INR 722 Cr, growing 23% YoY. It serves a curated base of 67K unique customers across India and international markets through 14 experience centre locations in 11 cities.^[1]

Key operating numbers

GMV grew 45% YoY to INR 193 Cr in Q1 FY27, up from INR 133 Cr in Q1 FY26, driven by higher average order value and geographic recovery.^[1]
Full-year FY26 GMV was INR 722 Cr, up 23% YoY from INR 588 Cr in FY25.^[1]
Average order value (AOV) rose 30% YoY to INR 86K in Q1 FY27 from INR 66K in Q1 FY26; FY26 full-year AOV was INR 76K vs INR 56K in FY25 (+36% YoY).^[1]
Gross profit margin was 36% in Q1 FY27, flat YoY vs 36% in Q1 FY26.^[1]
Repeat rate was 29% in FY26.^[1]

Customer base and wallet share

Unique customers intentionally reduced to 67K in FY26 from 71K in FY25 (and a peak of 93K), reflecting deliberate trimming of the mass-premium segment.^[1]
Average GMV per customer rose to INR 108K in FY26 from INR 83K in FY25 (+30% YoY), consistent with premiumisation strategy.^[1]
Top 10K customers' average GMV reached INR 406K in FY26, up from INR 342K in FY25.^[1]

Product mix and luxury positioning

High-ticket womenswear above INR 1 lakh grew to INR 312 Cr in FY26 (43% of total GMV), up from INR 196 Cr (33% of GMV) in FY25.^[1]
Strategy through FY25 - FY29 is to trim the mass-premium long tail on both designer and customer sides to sharpen luxury focus.^[1]

Experience centres and distribution

As of Q1 FY27 the company operates 14 experience centre (EC) locations across 11 cities.^[1]
International traffic accounted for 45% of website visits in Q1 FY27.^[1]
Mumbai GMV rose to INR 50 Cr in Q1 FY27 from INR 28 Cr in Q1 FY26 (+79% YoY), following the opening of large-format ECs at Fort Mumbai and Linking Road Bandra.^[1]
USA GMV rose to INR 29 Cr in Q1 FY27 from INR 20 Cr in Q1 FY26; full-year FY26 USA GMV was INR 77 Cr, down from INR 97 Cr in FY25.^[1]

Inventory and working capital

Inventory fell to INR 159 Cr in Q1 FY27 from INR 174 Cr in Q1 FY26 (-9% YoY).^[1]
Net working capital improved to INR 66 Cr in Q1 FY27 from INR 105 Cr in Q1 FY26 (-37% YoY), aided by higher advance-from-customer (INR 49 Cr vs INR 37 Cr).^[1]

Expansion and recent developments

Madison Avenue New York and Linking Road Bandra Mumbai ECs became operational in Q1 FY27, completing the four large-format EC investment cycle begun in FY26.^[1]
No significant new EC expansion is planned in the near term; FY27 is the first full operating year across all four large-format ECs opened in FY26.^[1]
The New York EC lease decision (renewal, expansion, or reduction) is expected after 12 - 18 months of operating data, by approximately September 2027.^[1]

Cost structure and breakeven

EBITDA was -INR 11 Cr (-9% margin) in Q1 FY27 vs -INR 4 Cr (-4% margin) in Q1 FY26; salary expenses rose to 21% of revenue from 17%, and other expenses to 15% from 12%, reflecting EC ramp costs.^[1]
EBITDA breakeven requires gross profit of approximately INR 55 Cr per quarter; gross profit was INR 43 Cr in Q1 FY27 with the fixed cost base now largely set.^[1]

Market Cap

₹4,035 Cr

High / Low

₹588 / 476

Promoter holding

24.1%

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