LLMs are increasingly being deployed for multilingual applications and have demonstrated impressive translation capabilities between several low and high resource languages. An aspect of translation that often gets overlooked is that of cultural adaptation, or modifying source culture references to suit the target culture. Cultural adaptation has applications across several creative industries and requires intimate knowledge of source and target cultures during translation. While specialized translation models still outperform LLMs on the machine translation task when viewed from the lens of correctness, they are not sensitive to cultural differences often requiring manual correction. LLMs on the other hand have a rich reservoir of cultural knowledge embedded within its parameters that can be potentially exploited for such applications. In this paper we define the task of cultural adaptation and create an evaluation framework to benchmark different models for this task. We evaluate the performance of modern LLMs for cultural adaptation and analyze their cross cultural knowledge while connecting related concepts across different cultures. We also analyze possible issues with automatic adaptation including cultural biases and stereotypes. We hope that this task will offer more insight into the cultural understanding of LLMs and their creativity in cross-cultural scenarios.