New Delhi: The Ismail Building located at Flora Fountain in South Mumbai has come into the spotlight. This historic building, around 118 years old, previously housed a store of the fashion brand Zara, which has now been closed. Now, the luxury fashion brand Purple Style Labs is set to enter here. The founder of this brand is Abhishek Agarwal.
This brand has rented 60,000 square feet of space in this building. According to the registration documents, this lease is for five years. For this, an annual rent of 360 million rupees will have to be paid. This means the brand will have to pay a daily rent of 1 million rupees, which amounts to 30 million rupees a month.
Accordingly, Abhishek’s company will pay rent here at the rate of 1 million rupees daily.
Abhishek grew up in Odisha. According to his LinkedIn profile, he completed his B. Tech and M. Tech in Aerospace Engineering from IIT Mumbai from 2007 to 2012. After his studies, he worked as an Equity Derivatives Structurer at Deutsche Bank. He stayed at this bank for 3 years until May 2015.
Abhishek stepped into the fashion world after leaving his job at Deutsche Bank in 2015. He started Purple Style Labs in 2015. Purple Style Labs deals in luxury fashion. This company sells several major designer brands under the ‘Pernia’s Pop-Up Shop’ brand. In 2018, Purple Style Labs acquired ‘Pernia’s Pop-Up Shop’. It helps new designers by providing sales, marketing, and technical support.
According to the company’s website, Purple Style Labs sells clothes from renowned designers like Tarun Tahiliani, Falguni Shane Peacock, Amit Aggarwal, Gaurav Gupta, Seema Gujral, Abhinav Mishra, Shyamali and Bhumi.
According to media reports, Abhishek Agarwal’s net worth is 1060 crore rupees.
In 2020, the famous designer from Goa, Wendell Rodricks, passed away suddenly at the age of 59. After that, Purple Style Labs also associated with his brand. Purple Style Labs has stores in several posh areas in Mumbai such as Kemps Corner, Juhu, and Bandra. They have stores in many other cities across the country. Abhishek is also known for his luxury lifestyle. In 2023, at the age of 33, he purchased a Mercedes Maybach S680 car for 4 crore rupees. At that time, Abhishek was the youngest Indian to own this luxury car.
