Footwear brand Monrow Shoes has seen its customer base expand across India and expects to more than double its run rate to Rs 100 crore in the coming two years.
“We are optimistic about our sales projections for the current fiscal year, driven by our strategic initiatives and growing customer base,” Monrow Shoes’ founder and CEO Veena Ashiya told India Retailing in an interview. “Currently, we are at an annual run rate of Rs 40 crore to 42 crore, but we are aiming for a Rs 100 crore run rate in the next 24 months.”
The women’s footwear business has established a retail presence in both metros and Tier 2 cities in India. Monrow Shoes is also focusing on making its operations more sustainable by reducing its carbon footprint, levels of waste, and incorporating more eco-friendly materials. In the future, Monrow Shoes plans to launch a dedicated sustainable footwear line.
Veena Ashiya launched Monrow Shoes in 2016 as a vegan and cruelty free footwear brand, according to its Facebook page. The label now counts 50 stores across India and also retails through a number of brick-and-mortar multi-brand fashion and lifestyle chains such as Centro, Shoppers Stop, and Reliance Trends. Online, the brand retails from its direct to customer e-commerce store and on platforms including Myntra, Nykaa, Ajio, Amazon India, and Flipkart among others.
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