India’s largest fashion platform that sells AI verified luxury fashion items and sneakers “Culture Circle” has opened an exclusive store in the city of Hyderabad.
The launch included a two-day spectacle with an electrifying auction, with the city’s who’s who attending and gracing the occassion.
The newest store is located at Broadway, at the tony Banjara Hills neighbourhood in the city of Nizams, which is home to celebrities, film personalities and wealthy industrialists.
“Hyderabad has always been a city of culture, cinema, and luxury, making it the perfect destination for our next big expansion,” said Devansh Jain Nawal, Co-founder & CEO of Culture Circle.
“We are committed to making the best of luxury and streetwear accessible to Indian consumers at the most competitive prices.”
Ackshay Jain, Co-founder & COO of Culture Circle, added, “Culture Circle is more than just a store; it’s a community for sneakerheads and luxury fashion enthusiasts.
Our second physical store in Hyderabad is a testament to the growing demand for authentic and exclusive products, and we are excited to serve a new audience with our curated collection.”
This marks Culture Circle’s second store launch after its successful debut in Delhi, further cementing its dominance in India’s luxury fashion market.
The red-carpet affair was attended by some of Hyderabad’s most influential names, including actors Rana Daggubati and Naga Chaitanya, style icon Sobhita Dhulipala, actresses Rhea Chakraborty and Sreeleela.
Editor’s Note
The upmarket luxury fashion market in India is currently estimated to be INR 82,000 Cr (USD 10 Bn). However, not all of this consumption is purchased in India by discerning Indian consumers.
Luxury fashion seekers visit global shopping destinations such as Singapore, Dubai, Paris, London, etc. to shop for fancy hand bags, clothing and accessories, watches and footwear. The average transaction value for such products is in the range of INR 0.82 lakhs (USD 10,000) and above.
One of the key reasons Indians prefer not to buy such products in India is due to counterfeit products that have flooded the market, which are almost impossible to be identified by naked eyes.
Culture Circle has raised a funding of INR 16.50 Cr (USD 2 Mn) in Dec. 2024 from marquee investors including Info Edge Ventures and IIMA Ventures. The company is eyeing revenues of INR 50 Cr for FY 24-25, according to its Founder.