Luxury e-commerce marketplace Culture Circle reported revenue of Rs. 3.4 crore (US $ 378,000) in the financial year 2024–25 (FY ’25), a tenfold increase from Rs. 31.4 lakh (US $ 35,000) recorded in FY ’24. Including other income of Rs. 45 lakh (US $ 50,000), the company’s total income for the year stood at Rs. 3.8 crore (US $ 423,000).
FY ’25 marked the first full year of operations for the Delhi NCR-based start-up, which was incorporated in September 2023 and officially launched in January 2024.
Rapid revenue growth was accompanied by a sharp rise in expenditure, resulting in a net loss of Rs. 3.3 crore (US $ 363,000) for the year, compared with a loss of Rs. 11.4 lakh (US $ 12,540) in FY ’24. Total expenses climbed to Rs. 7.1 crore (US $ 781,000) from Rs. 50 lakh (US $ 55,000) a year earlier. Employee benefit costs increased to Rs. 1.8 crore (US $ 198,000) from Rs. 28.4 lakh (US $ 31,240), while advertising and promotional spending rose to Rs. 2.6 crore (US $ 286,000) from Rs. 8.5 lakh (US $ 9,350), reflecting a focus on brand building and marketplace expansion.
Founded by Devansh Jain Nawal and Ackshay Jain, Culture Circle operates an inventory-free luxury marketplace specialising in sneakers, streetwear and high-end fashion. The platform features products from global brands such as Nike, Yeezy, Dior, Supreme and Louis Vuitton, and hosts more than 3,500 sellers with over 3.5 million listings.
In December 2024, the company raised US $ 2 million in a seed funding round led by Info Edge Ventures, with participation from angel investors. The capital was earmarked for global expansion, technology upgrades and scaling the marketplace. Following the fundraise, Culture Circle piloted operations in six international markets, including the UK, the UAE, Singapore and Thailand.
While the company had earlier indicated EBITDA profitability during the second quarter of FY ’25, the full-year results reflect higher costs linked to platform development, marketing and overseas expansion. The performance also comes against the backdrop of an ambitious growth strategy, with the company having previously outlined a target of Rs. 50 crore (US $ 5.56 million) in revenue for FY ’25.
