Pernia’s Pop-Up Shop looking for first round of funding

Pernia’s Pop-Up Shop, the online fashion store is in talks to raise funds for first round of funding. The funds will be used for marketing and acquiring new customers. Founder Pernia Qureshi feels they have established the brand well with good organic growth so far. And to boost future growth and reach out to more customers they are looking for funds. Besides jewellery, saris and accessories from top Indian designers, the store also sells its own Pernia Qureshi women’s wear label.

The company is targeting venture capital funds, high-net-worth individuals and family offices to raise funds. It’s a niche of business and therefore, there is strong investor interest.

It maybe recalled as per Boston Consulting Group (BCG) and Facebook report in March, India’s online fashion market is estimated to touch 12-14 billion dollars by 2020 on the back of smartphone penetration, better logistics infrastructure and evolved shoppers. Online fashion shoppers will more than double to 130 million from the current 55-60 million. Several online fashion stores have come up to cater to the changing fashion trends of Indian customers.