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Purple Style Labs to invest USD 7 million in its New York subsidiary, Pernia’s Pop-Up Studio
21-Sep-2026, 04:41

Purple Style Labs Limited announced that its board approved an investment of USD 7 million to acquire 7 million Class B Common Stock of its wholly-owned subsidiary, Purple Style Labs USA, Inc., which operates Pernia’s Pop-Up Studio in New York City, and intends to fund the investment primarily from proceeds of its Initial Public Offer. The acquisition, considered a related-party transaction due to the subsidiary’s ownership, will be executed for a cash consideration of USD 7 million and is expected to be completed within 30 days of receiving approval from an authorized dealer bank.