Culture Circle – India’s Premier Marketplace for Luxury and Hype Fashion

Culture Circle, founded by Devansh and Ackshay, is revolutionizing the way Indians access luxury and hype fashion. The platform serves as a premier marketplace for authentic, limited-edition sneakers, streetwear, handbags, and other high-end fashion items. With a focus on authenticity, affordability, and exclusivity, Culture Circle is catering to the growing demand for luxury fashion in India. The brand’s innovative approach to resale and its strong partnerships with global authentication standards have made it a standout player in the industry.

The Culture Circle Story

Culture Circle began as a college project in September 2022 and quickly evolved into a full-fledged business. The founders, Devansh and Ackshay, identified a gap in the Indian market for a reliable platform to buy and sell authentic luxury and hype fashion items. They launched Culture Circle in January 2023, and within a short span, the platform gained significant traction.

The brand’s success is driven by its dual-platform model:

Culture Circle: A buyer-side app where consumers can purchase authentic luxury and hype fashion items.
SourceX: A seller-side app that helps resellers source products efficiently and manage their inventory.

Culture Circle has already onboarded 3,000 resellers and serves as a one-stop solution for luxury fashion enthusiasts.

The Product Line

Culture Circle offers a wide range of luxury and hype fashion items, including:

Sneakers: From limited-edition Jordans to exclusive Yeezys.
Streetwear: Brands like Supreme, Off-White, and Bape.
Handbags: Luxury brands like Gucci, Dior, and Louis Vuitton.
Accessories: Sunglasses, watches, and more.

The platform ensures authenticity by partnering with global authentication standards and using advanced technology to verify products.

The Shark Tank Pitch

Devansh and Ackshay entered the Shark Tank with a bold pitch, showcasing their vision to make Culture Circle the largest resale platform for luxury and hype fashion in India.

Ask: ₹1.2 crores for 0.5% equity (valuation of ₹240 crores).
Funding History: Raised ₹16.2 crores from Info Edge at a valuation of ₹80.2 crores in May 2023.
Revenue:
- April to November 2023: Gross sales of ₹22.2 crores.
- Monthly growth rate: 30%.
Take Rate: 16% (commission on transactions).

The founders highlighted their unique value proposition:

Price Comparison: Customers can compare prices from multiple verified sellers.
Authentication: Every product is verified using global authentication standards.
Seller Support: SourceX helps resellers improve sourcing and reduce order cancellations.

The Deal

After intense negotiations, Culture Circle secured a deal with Ritesh Agarwal (OYO) and Kunal Bahl (Snapdeal) for ₹2.4 crores for 2% equity (valuation of ₹120 crores). The Sharks were impressed by the founders’ vision, the platform’s growth trajectory, and their ability to address a niche market.

FAQs About Culture Circle

1. What is Culture Circle?

Culture Circle is a luxury and hype fashion marketplace that offers authentic, limited-edition sneakers, streetwear, handbags, and accessories.

2. How does Culture Circle ensure authenticity?

Culture Circle partners with global authentication standards and uses advanced technology to verify every product listed on the platform.

3. What brands are available on Culture Circle?

The platform features brands like Nike, Jordan, Dior, Gucci, Supreme, Off-White, Louis Vuitton, and more.

4. How does the price comparison feature work?

Customers can compare prices for the same product from multiple verified sellers, ensuring they get the best deal.

5. What is SourceX?

SourceX is a seller-side app that helps resellers source products efficiently, manage inventory, and reduce order cancellations.

6. Who can sell on Culture Circle?

Verified resellers can list their products on Culture Circle. The platform currently has 3,000 resellers.

7. What is the return policy?

Culture Circle has a low return rate due to its focus on authenticity and quality. However, customers can return products if they are not satisfied.

8. Does Culture Circle ship internationally?

The platform primarily serves the Indian market, but customers can check the website for international shipping options.

9. What is the take rate?

Culture Circle operates at a blended commission of 16%, which is competitive compared to global marketplaces.

10. What are Culture Circle’s future plans?

The founders aim to make Culture Circle the largest resale platform globally. They plan to expand their product range, onboard more resellers, and scale their operations.

Why Culture Circle Stands Out

Authenticity: Culture Circle ensures every product is verified, addressing the issue of counterfeit luxury items.
Affordability: The platform offers competitive pricing, making luxury fashion accessible to a wider audience.
Technology-Driven: The use of advanced technology for authentication and price comparison sets Culture Circle apart.
Dual-Platform Model: The integration of Culture Circle (buyer-side) and SourceX (seller-side) creates a seamless experience for both customers and resellers.
Strong Backing: With investments from Info Edge and support from Sharks like Ritesh Agarwal and Kunal Bahl, Culture Circle is well-positioned for growth.

Conclusion

Culture Circle is redefining the luxury and hype fashion market in India by offering a trusted platform for buying and selling authentic products. With its innovative approach, strong partnerships, and ambitious vision, the brand is set to become a global leader in the resale industry. Whether you’re a sneakerhead, a streetwear enthusiast, or a luxury fashion lover, Culture Circle is your go-to destination for exclusive and authentic fashion.