Online luxury fashion store Pernia’s Pop-up Shop is in discussions to raise its first round of funding. The company said it will be using the funds to enhance its online presence, strengthen its logistics and also add more designers to its folds.

“We began our journey five years ago and our growth has been good. We are want to expand our reach and for this reason we are looking to raise funds. We hope to close the deal in two-three months. This will be a Series A funding,” Pernia Qureshi, the company’s founder, told BusinessLine.

The online store retails luxury apparels and jewellery from top Indian designers.

Qureshi said Pernia’s client base comprises both Indian and international customers. It also sells its own retail label. Besides aggregating labels, it also holds some inventory.

The company said the average ticket size on its portal stands at ₹15,000 for apparels and ₹10,000 for jewellery.

Qureshi said the company is seeing a 40 per cent growth as designers expand their brands.

Asked if the company is also looking into the omni-retail platform, she said that it is still evaluating the possibility.

According to a report by CII and research agency Kantar, between 2015 and 2016, the Indian luxury market grew from $14.7 billion (₹96,751 crore) to a whopping $18.6 billion (₹1,18,498 crore), at a growth rate of 25 per cent year-on-year.

North India accounts for 40 per cent of spending on luxury products and services, with Delhi-NCR leading the consumption share, followed by Punjab and Haryana. Southern and western India each account for around 25 per cent and eastern India lags in the luxury market with a 10 per cent market share. With their growing affluence, India’s tier-II and III cities are also emerging as new reservoirs of luxury spending.