Culture Circle Posts INR 3.4 Cr Revenue In FY25

SUMMARY

Culture Circle posted a revenue of INR 3.4 Cr in the financial year 2024-25 (FY25), up 10X from INR 31.4 Lakh in FY24

With the rise in top line, the startup’s cash burn also increased. This resulted in its net loss zooming to INR 3.3 Cr during the year under review from INR 11.4 Lakh in FY24

Total expenses for the period under review jumped to INR 7.1 Cr from INR 50 Lakh in FY24

Fashion ecommerce marketplace Culture Circle posted a revenue of INR 3.4 Cr in the financial year 2024-25 (FY25), up 10X from INR 31.4 Lakh in FY24.

Including other income of INR 45 Lakh, its total income for the period stood at INR 3.8 Cr.

Notably, this was the first full operational year for the startup, which was incorporated in September 2023 and launched in January 2024.

With the rise in top line, the startup’s cash burn also increased. This resulted in its net loss zooming to INR 3.3 Cr during the year under review from INR 11.4 Lakh in FY24.

Total expenses for the period under review jumped to INR 7.1 Cr from INR 50 Lakh in FY24.

Within this, employee benefit expenses surged to INR 1.8 Cr from INR 28.4 Lakh in the previous year. With the startup splurging on promotion, its advertising expenses zoomed to INR 2.6 Cr in FY25 from INR 8.5 Lakh.

Notably, per startup, its GMV (gross merchandise value) for the period under review stood at INR 34 Cr.

Founded by Devansh Jain Nawal and Ackshay Jain, Culture Circle operates an inventory-free luxury ecommerce marketplace for sneakers, streetwear and high-end fashion.

The Delhi NCR-based startup sells products from global brands such as Nike, Yeezy, Dior, Supreme and Louis Vuitton, and claims to host over 3,500 sellers and 35 Lakh listings on its platform.

Culture Circle had earlier claimed that sneakers and footwear contributed around 60% of its revenue, followed by apparel (30%) and accessories (10%). The startup earns commissions in the range of 9% to 30% per transaction.

In December 2024, Culture Circle raised $2 Mn in its seed funding round led by Info Edge Ventures, along with participation from angel investors, to fuel global expansion, technology upgrades and marketplace scale.

As part of this push, it claims to have entered six international markets – Qatar, Oman, the UAE, Singapore, the UK, and Thailand – via a pilot programme.

While Culture Circle earlier claimed EBITDA profitability in the quarter ended September 2024, the FY25 numbers reflect the costs associated with expansion and marketing and platform build-out, even as revenue scaled significantly from a low base.

Notably, the startup, while announcing its fundraise, said it was eyeing a revenue of INR 50 Cr in FY25.