Monrow Shoes raises $1 million from LC Nueva, 9Unicorns, others
Women’s footwearand accessories brand Monrow Shoes has raised an additional $1 million (Rs 7.5 crore) from LC Nueva Investment Partners, along with existing investors such as 9Unicorns, LetsVenture, and Vcats.
The brand will be utilising the funds to increase its market presence, expand its product portfolio, build the Monrow community, and strengthen its commitment to offering a world-class experience for customers through its innovative shoes and accessories.
Commenting on the funding, Veena Ashiya, founder CEO of Monrow Shoes and Accessories in a statement said, “Passion certainly pays off; through Monrow Shoes and Accessories, we want to show the world that if one is passionate about what they want to achieve, success and monetary returns will follow. We already have a strong product market fit, with our products being rated 4.3 out of 5, so we will use the funding for awareness generation. We envision the growth to be more than 3X in the coming year.”
Monrow currently sells its products across 14 locations in the country through partnerships with Shoppers Stop, Future Group, and Reliance Retail among others. The brand also sells online through its website, Myntra, and Ajio.
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