Culture Circle: How It’s Shaping the Future of Luxury Fashion and Streetwear in India

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The revenue in the Indian fashion market is expected to reach $17.24 billion in 2025 and $24.35 billion by 2029, with an annual growth rate of 9.02%. As more consumers turn to online platforms for luxury fashion, the demand for authenticity and trust has never been higher.

This is where Culture Circle comes in. What started as a passion for streetwear and sneakers has grown into India’s largest marketplace for authenticated luxury fashion. By connecting buyers with verified sellers, offering competitive prices, and using advanced authentication technology, Culture Circle is reshaping the way luxury enthusiasts shop.

In this article, we explore the journey of Culture Circle, a company featured on Shark Tank India, along with its founders, business model, funding, challenges, and vision for the future.

Culture Circle - Company Highlights

Culture Circle - About

Culture Circle stands as India's number one Hype and Luxury App, revolutionising the luxury fashion landscape with the largest authenticated collection of sneakers, streetwear, and luxury fashion in Asia. The platform has fundamentally transformed how India shops for luxury items, combining technology with a deep understanding of the streetwear culture. Through its proprietary AI-powered verification system and extensive network of KYC-verified sellers, Culture Circle ensures that every product's authenticity is guaranteed while offering the most competitive prices in the market.

Culture Circle - Industry

Culture Circle operates in the luxury and streetwear fashion e-commerce industry, catering primarily to Gen Z luxury enthusiasts and sneaker collectors. The company has also attracted a growing base of millennials who seek authentic luxury fashion.

Established as India's largest marketplace for authenticated hype sneakers and streetwear, Culture Circle is rapidly expanding its presence in the broader luxury fashion segment.

With the surge in digital adoption post-pandemic, the company anticipates significant growth in the luxury fashion space. Its future plans include strategic expansion into the UAE, Eastern Europe, and Asia, capitalising on the increasing demand for authenticated luxury products in these regions. Additionally, the streetwear segment has gained mainstream popularity among younger consumers, while luxury purchases continue to show strong growth trends.

Culture Circle - Founders

Devansh Jain Nawal and Ackshay Jain are the co-founders of Culture Circle.

Devansh Jain Nawal – Co-Founder & CEO

Devansh Jain Nawal is a graduate of IIM Ahmedabad and has previously worked at Goldman Sachs. As the Co-Founder and CEO of Culture Circle, he focuses on strategic growth and business development, driving the company’s expansion in the luxury fashion and streetwear market.

Ackshay Jain – Co-Founder & COO

Ackshay Jain serves as the Co-Founder and COO of Culture Circle. He is the JIIF Gurgaon Convenor and has a strong background in technology and entrepreneurship. Previously, he worked at Google but declined a pre-placement offer to pursue his entrepreneurial ambitions.

Before co-founding Culture Circle, he founded The Healthy Company (THC). His expertise lies in technology and machine learning. He has worked as a back-end developer at CollegeDekho, StoreHippo, and InstaLively, contributing to innovative tech solutions. Some of his notable works include GST fraud detection at Wipro and robotic process automation (RPA) projects at EY.

At Culture Circle, he leads the technology and operations division, ensuring seamless platform functionality and technological advancement.

Culture Circle - Startup Story

The origin of Culture Circle traces back to 2016 when co-founder Ackshay purchased his first Jordan (AJ1 PSG). The experience highlighted the significant challenges in the Indian market – uncertainty about authenticity, limited availability of desired sizes, and inflated prices up to 159% above market rates. These personal pain points, combined with Devansh's insights into the market gaps, led to the conceptualisation of Culture Circle.

The founders recognised that the sneaker trend in India was being held back by these challenges and set out to create a solution that would address these fundamental issues while creating a community of enthusiasts.

Culture Circle - Mission and Vision

Vision: To establish itself as a global leader in hype and luxury fashion, creating a seamless integration between online and offline experiences, creating a vibrant digital community, and setting new standards in authentication and personalisation through cutting-edge technology.

Mission: To democratise access to authentic luxury fashion while maintaining unwavering standards of trust and quality in every transaction. The company aims to bridge the gap between global premium brands and digitally savvy Indian consumers.

Culture Circle’s core belief is to create a trustworthy, tech-driven marketplace that not only ensures genuine products and competitive prices but also delivers an unparalleled user experience that resonates with the modern luxury consumer.

Culture Circle - Products/Services

Culture Circle provides a comprehensive, technology-driven marketplace for authentic luxury fashion and streetwear. Its innovative "compare and shop" feature enables users to access exclusive deals from thousands of globally verified sellers. The platform offers prestigious brands such as Nike, Adidas, Louis Vuitton, Dior, Supreme, and Yeezy at highly competitive prices.

Key Features:

Culture Circle stands out with several industry-leading features, including:

• The largest authenticated collection of luxury and streetwear items in Asia
• A proprietary SourceX platform for efficient inventory management
• India’s most extensive network of verified resellers
• A Skyscanner-like interface that allows for luxury fashion price comparison
• An AI-powered authentication system with a five-step verification process
• A physical store presence to enhance customer engagement

Unique Selling Points (USPs):

Culture Circle differentiates itself through:

• Advanced computer vision AI for precise product verification
• Real-time price comparison across verified sellers
• The largest verified collection of luxury fashion in India
• Guaranteed authenticity, backed by certification
• Seamless online-to-offline integration for a superior shopping experience

Culture Circle - Business and Revenue Model

Culture Circle operates as a premium marketplace connecting verified sellers with luxury fashion buyers. The platform ensures seamless transactions while maintaining strict quality controls through its proprietary technology.

Revenue Streams:

Culture Circle generates revenue through multiple channels, including:

• Commission on marketplace transactions
• Authentication and verification services
• Premium seller services through the SourceX platform
• Physical retail operations
• Value-added services for premium customers

Culture Circle - Customer Growth and Retention Strategies

Culture Circle employs a multi-faceted approach to drive customer growth and engagement:

• Community-First Approach: Building a strong digital community of sneaker enthusiasts and luxury fashion lovers
• Content Strategy: Providing educational content on products, authenticity, and fashion trends to enhance consumer knowledge
• User-Generated Content: Encouraging customers to share their collections and shopping experiences to build brand engagement
• Trust Building: Implementing rigorous verification systems and authenticity guarantees to ensure customer confidence
• Competitive Pricing: Offering the best market rates through a seller comparison model
• Offline Expansion: Establishing physical stores for enhanced customer experience
• Local Market Understanding: Adapting strategies to align with Indian consumer behaviour and preferences
• Influencer Partnerships: Collaborating with key figures in the sneaker and streetwear community to strengthen brand credibility and outreach

Culture Circle - Funding

Culture Circle - Growth and Achievements

Culture Circle has rapidly established itself as India's leading luxury fashion marketplace, achieving significant milestones in a short span of time.

• User Base: Over one million monthly active users
• Social Media Presence: More than 210K engaged followers across platforms
• Growth: Achieved remarkable expansion within just 11 months
• Recent Milestone: Received the highest-ever offer of INR 8 crores on Shark Tank India
• Strategic Investment: Accepted INR 3 crores for 3% equity from Kunal Bahl and Ritesh Agarwal

List of Kunal Bahl Investments | Startups Funded by Shark Tank India’s Strategic Shark

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Culture Circle - Future Plans

Culture Circle has ambitious plans for expansion and innovation, focusing on key growth areas:

• Retail Expansion: Launching four physical retail locations across major Indian cities
• Financial Target: Achieve an INR 120 crore revenue run rate by FY25
• International Growth: Expanding into three new international regions with localised platforms
• Product Diversification: Introducing new luxury categories, including handbags and watches
• Technology Enhancement: Further developing computer vision AI for advanced authentication
• Customer Experience: Implementing personalised features to enhance user engagement
• Supply Chain: Strengthening cross-border logistics and strategic partnerships
• Community Building: Enhancing the digital hangout space for collectors and enthusiasts

FAQs

What is Culture Circle?

Culture Circle is India’s leading marketplace for authenticated luxury fashion and streetwear, connecting buyers with verified sellers for a seamless shopping experience.

Who are the founders of Culture Circle?

Devansh Jain Nawal and Ackshay Jain are the co-founders of Culture Circle.

Did Culture Circle get an offer on Shark Tank India?

Yes, Culture Circle accepted an offer of INR 3 crore for 3% equity from Kunal Bahl and Ritesh Agarwal on Shark Tank India Season 4.