Latest news with #CultureCircle
Mint
28-05-2025
- Business
- Mint
Inside India's hush-hush hype luxury economy where sneakers cost more than gold
Would you pay ₹7 lakh for a pair of limited-edition Nike-Dior Air Jordan sneakers or ₹50,000 for a tiny monster stuffed toy or ₹20,000 for lip gloss iPhone covers? India's young, style-conscious and wealthy shoppers are shelling out big money for such hype-driven luxury. The country's super-rich shoppers are driving demand for hype wear and collectibles, some of which is never officially sold in the country. Demand is propelled by scarcity, brand hype, and social media buzz created by global fashion houses, streetwear giants, or celebrity-led brands through exclusive drops and collaborations. Buyers pay a premium for underground luxury on resale platforms such as Culture Circle and Crepdog Crew. Some even treat it as an investment which they can flip in the future. As high as 72% of buyers are under 28 years of age—mostly males from big metros, according to Devansh Jain, who co-founded Culture Circle with Ackshay Jain. But sales in tier II cities are now growing at over 60% month-on-month, he said. The average spend is about ₹32,000 per order, with some users spending lakhs within weeks of their first purchase. Handbags are being picked up by women aged 25-32, often as a first, big luxury purchase, Jain said. Many customers are purchasing two or three sizes of the same item: one to wear, others to store 'like wine" in the hope of appreciation. Hype wear or limited-edition clothes, shoes and accessories are a global style phenomenon built on scarcity and status. While they're tough to find in stores and sell out fast, they reappear (usually brand new) on resale platforms at much higher prices, targeting those who want a shot at exclusivity. Among India's young consumers, search for such alternative assets and a hunger to own and experience luxury also reflects growing affluence. Also read | Foreign luxury jewellers chase India's young, wealthy buyers Luxury sneakers and Stanley tumblers to collectible Japanese soft toys and Hailey Bieber's lip gloss are flying off the shelves as global novelty 'drops" or limited collections find buyers in India. Even everyday items like ₹7,500 Off-White branded arrow socks or ₹8,000 Supreme branded water bottle are turning into status symbols. Some sellers even stay anonymous because they are holding stock worth crores of rupees, multiple collectors told Mint, speaking on the condition of anonymity. Culture Circle recently facilitated the sale of The Air Jordan 1 High OG Dior, Nike's streetwear shoes with Dior's luxe detailing and monogram under the shoe. Only 8,500 pairs exist worldwide, making the sneaker a coveted collector's item, with resale prices crossing ₹7 lakh apiece. A footmat to most, the Virgil Abloh x Ikea Marekrad "Wet Grass" rug stirred a resale frenzy, fetching around ₹1.4 lakh. Abloh, a designer and an artist, is known for blending streetwear with high fashion. The collection included over a dozen items sold globally, with the rug originally priced at $249, selling for 560% more than its base price. On Culture Circle and Crepdog Crew, you can find the special edition Rhode lip-gloss case to a ₹400,000 Louis Vuitton x Takashi Murakami Keepall Bandouliere 50 Black bag, which otherwise retails for ₹320,000. These are frequently resold at steep markups. Sneaker love in Ludhiana A pair of rare, red sneakers can fetch up to ₹30 lakh and go even as high as ₹50 lakh on Culture Circle, according to Jain. Last month, a woman in Delhi walked into its physical stores and bought every pair of special-edition sneakers in her size. No questions asked, no discounts needed. And the motivation? 'Bragging rights, cred, and being able to say, 'You can't find this anywhere else." In Haryana's Sonipat, Ronak Batra, 26, runs a company called Kicks Charger that sells special-edition sneakers from Adidas and Nike to On Cloud and Yeezy. The lawyer, who is not practising anymore, said he spends all his time acquiring special-edition sneakers from these retail stores and then reselling them. "Earlier, when the competition was less, the percentage you could earn from a sneaker could go up 15-20%, but now that's gone down somewhat and is around 10%, especially if the pair is under ₹10,000," he said. Also read | DS Luxury bets on premium fashion boom, plans 30 stores by FY28 as India's luxury market is set to boom This month, he sold a ₹35,000 The Air Jordan 1 'Lost & Found' Chicago', which became popular in 2022 for its nostalgic design that replicates a vintage 1985 sneaker discovered in a dusty stockroom, complete with aged details and a mismatched box lid. It taps into sneaker culture's love for storytelling and history, while appealing to both old-school collectors and new fans. Batra, who started collecting himself at the age of 21 and slowly turned it into a business, said, 'Globally, there must be under 10,000 such pairs. Though the real number is unknown, but collectors know it is a special shoe." Earlier, his clients were in college, but now the hype shoes business is transcending the age barrier. He even has 50-year-old buyers who are friends of his father. 'Maybe some of these people won't understand the cultural significance, but their family members tend to teach them about them as well." Sneakers also top the demand charts. Some buyers will even pay double, triple and even 10 times the original price just to own a sneaker seen on a celebrity's Instagram. A black-and-white pair of Nike shoes named 'Panda" Dunks sold 780 units in three minutes around the world. Read this | Luxury Boom: Accor expands in India as rising prosperity fuels hotel demand The obsession is not confined to the metro cities. Ludhiana—with a population 1.6 million—now ranks among the top five in luxury sneaker sales for Culture Circle. Business families' Gen Z kids are apparently driving that trend, said co-founder Devansh Jain. 'No logic' Labubu dolls, a line of expressive Japanese soft toys, are now prized collectibles among Indian buyers. There's a surge in demand for brands that aren't even officially in India: Rick Owens, LOEWE, Eric Emmanuel, Gymshark, Lululemon. And if something's spotted on a celebrity — whether it's Hailey Bieber or a cricketer from India's playing XI — it sells out in minutes. Prices can spike up to 400% purely because of an Instagram story. Gurugram-based realtor and collector Abhijeet Singh, 25, a sneakerhead who has 130 pairs, buys in doubles so he can keep one and wear the other. He recently paid ₹480,000 for the Nike Air Jordan Low, but his average purchase price is ₹25,000-30,000. 'For me, it's all about authenticity," Singh said. 'Earlier, when I began to collect, there were no means to cross-check products, but now you can upload the original bill or receipts you get with the product on the Culture Circle platform to cross-check on a third-party platform if it's a legitimate product." As for demand, 'there's no logic to it", he said. 'If it's rare, it is wanted. If it's sold out, it's worshipped." And read | Ticking up: Hublot CEO on India's growing appetite for luxury watches
Fashion Network
16-05-2025
- Business
- Fashion Network
Culture Circle partners with Gully Labs to launch first sneaker design
Authenticated streetwear and luxury platform Culture Circle has released its debut sneaker in collaboration with streetwear label Gully Labs. Titled 'The Winner', the limited-edition drop marks Culture Circle's first venture into product design. Only 42 pairs of the sneaker have been produced, referencing the year 1942 and the formation of India's first national defence force, Culture Circle announced in a press release. Each pair is hand-numbered and features off-white embroidery on the toe for exclusivity. The black sneaker includes a raised knitted upper with premium leather overlays, a padded EVA midsole, and a chunky silhouette inspired by resilience and strength. Other design elements include a flap and Velcro closure, Gully Labs branding on the heel alongside the Culture Circle emblem, a suede-lined back tab, and a high-traction rubber outsole. The sneaker is priced at Rs 51,000, reflecting the 51 lakh personnel currently serving in India's defence forces. 'True style is about more than just looks, it's about legacy,' announced the brand in its press release. The majority of the proceeds from sales will go towards war relief and veteran welfare efforts. The sneakers have launched exclusively on Culture Circle's e-commerce store and reflect the business' plan to explore limited-run releases to engage shoppers.
Fashion Network
01-05-2025
- Business
- Fashion Network
Culture Circle partners with CheckCheck for dual authentication of luxury fashion
Indian marketplace for authenticated luxury fashion Culture Circle has partnered with global authentication firm CheckCheck to introduce a dual product authentication system for products sold on its platform. The initiative, described as an industry first in India, aims to strengthen buyer trust in the resale of premium fashion and footwear. The partnership integrates CheckCheck's global expertise into Culture Circle's existing AI-powered authentication process, announced Culture Circle in a press release. Each product purchased will now include a certificate of authenticity, offering buyers additional assurance. KYC-verified sellers on the platform are now required to authenticate their products through CheckCheck prior to listing. 'Trust is everything in the resale game, and at Culture Circle, we don't take shortcuts,' said Devansh Jain Nawal, co-founder of Culture Circle, in a press release. 'This partnership is a game-changer- giving sneaker-heads and luxury shoppers the confidence they deserve.' The collaboration also aims to enhance the customer experience by treating authentication certificates as premium, shareable assets. With this initiative, Culture Circle announced it has become the only platform in India to offer such a level of verification, further positioning itself as a trusted source for brands like Nike, Adidas, Dior, and Balenciaga. 'Culture Circle's commitment to trust and transparency perfectly aligns with our mission," said CheckCheck's chief executive Perry Nguyen. "By combining our authentication expertise with their innovative marketplace, we're raising the bar for sneaker and luxury resale in India.'
Business Standard
30-04-2025
- Business
- Business Standard
Culture Circle Becomes India's First Luxury Marketplace to offer Dual Authentication Certification with CheckCheck Partnership
HT Syndication New Delhi [India], April 30: Culture Circle, India's biggest marketplace for authenticated hype and luxury fashion, has partnered with global authentication leader CheckCheck to introduce an industry-first dual authentication system in India. This groundbreaking move reinforces Culture Circle's reputation as the most trusted platform for sneaker and luxury fashion, offering customers guaranteed authenticity, the lowest prices, and the ability to compare prices from thousands of verified sellers. With this partnership, Culture Circle enhances its AI-powered authentication process by integrating CheckCheck's globally recognized expertise. Every purchase will now come with a certificate of authenticity, ensuring that buyers receive 100% verified products. As part of this initiative, all KYC-verified sellers on the platform are now required to authenticate their products through CheckCheck before listing, further strengthening the security of transactions. "Trust is everything in the resale game, and at Culture Circle, we don't take shortcuts. We already have the biggest collection of authenticated hype and luxury fashion in India, and now, with CheckCheck, we're offering an extra layer of security for our customers," said Devansh Jain Nawal, Co-founder of Culture Circle. "This partnership is a game-changer--giving sneakerheads and luxury shoppers the confidence they deserve." "CheckCheck has always been about empowering communities to buy and sell with confidence," said Perry Nguyen, CEO of CheckCheck. "Culture Circle's commitment to trust and transparency perfectly aligns with our mission. By combining our authentication expertise with their innovative marketplace, we're raising the bar for sneaker and luxury resale in India and giving buyers the peace of mind they deserve." Beyond just security, this collaboration enhances the customer experience by providing authentication certificates as a premium, shareable asset, making each purchase even more special. Culture Circle is now the only platform in India offering this level of authentication assurance, setting a new industry benchmark. "For sneaker and luxury enthusiasts, authenticity isn't just a feature--it's the foundation. We're making sure every buyer gets the real deal, at the best price, with full transparency," said Ackshay Jain, Co-founder of Culture Circle. "With CheckCheck's expertise and our advanced AI tech, we're eliminating any doubts about legitimacy while keeping prices unbeatable." Culture Circle is already home to the hottest brands like Nike, Adidas, LV, Balenciaga, Dior, and more, and this latest move solidifies its position as India's go-to destination for authenticated luxury and hype fashion at the best prices. By doubling down on authentication, transparency, and unbeatable deals, Culture Circle continues to redefine trust in the Indian luxury resale market. For more information, visit - About Culture Circle Culture Circle ( is India's #1 Hype and Luxury App, offering the largest authenticated collection of sneakers, streetwear, and luxury fashion. Founded by Devansh Jain Nawal and Ackshay Jain, the platform guarantees authenticity with AI-powered verification and ensures competitive pricing through its vast network of KYC-verified sellers. Culture Circle is transforming how India shops for luxury, building a trusted community for Gen Z and beyond, providing a seamless way to buy authentic sneakers in India and access luxury fashion prices in India.
