Hype luxury the newest craze for young & wealthy

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?

- Varuni Khosla

India's young, style-conscious and wealthy shoppers are shelling out big money for such hype-driven luxury.

These shoppers are driving sales of 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.

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 Akshay 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.