Monrow is a Bengaluru women’s footwear brand run by its own Indian company, Trudel Fashions Private Limited, incorporated in July 2015. It sells flats, heels and wedges on its own website, on Myntra and inside multi-brand stores, and it has raised two reported rounds of outside money.
The brand does not dress itself up as foreign. Its product pages say “Country of Origin: India” and name its own company as manufacturer and packer, and on 22 September 2026 all 40 Myntra listings read said the same. The questions worth asking are about its money, its comfort claims and what “vegan” rests on.
Monrow is an Indian brand made and sold by its own Bengaluru company, with India declared on 40 of 40 Myntra listings read and the company named as seller on all 40. Across 100 Myntra listings read on 22 September 2026, the median price paid was 92.2% of MRP. Its vegan standing rests on a 2024 PETA India award, and its comfort technologies carry no published numbers.
Snapshot
- Company
- Trudel Fashions Private Limited, CIN U74900KA2015PTC081937, Bengaluru
- Incorporated
- 31 July 2015; the brand launched in September 2016, per its founder in 2018
- Founder
- Veena Ashiya, founder and chief executive, a director since incorporation
- Directors
- Veena Ashiya (from 31 July 2015) and Gourav Chindlur Prabhakar (from 5 October 2019), per register mirrors
- Latest revenue on record
- ₹15.1 crore for the year to 31 March 2025, from Inc42’s company data page, not a filing we have seen
- Myntra brand listing
- 287 products at “Monrow”, 22 September 2026
- Price band in India
- Mid-range — median MRP ₹2,449, median paid ₹2,259, 100 distinct Myntra listings, 22 September 2026
- Declared country of origin
- India on 40 of 40 Myntra listings read
Who owns Monrow
The monrow.in footer reads “© 2026 Monrow Shoes” and, beneath it, “Trudel Fashions Pvt Ltd – CIN : U74900KA2015PTC081937”. The site’s terms of service name the same company and number. The privacy policy spells it two ways, “Trudel Fashion” and “Trudel Fashions”, with one CIN, so they are one company.
The CIN reads as a home-grown business: U for unlisted, KA for Karnataka, 2015 for the year of incorporation, and PTC for an ordinary private company rather than the FTC a foreign subsidiary carries. There is no listed parent. The register mirrors Zauba Corp and InstaFinancials give the incorporation date as 31 July 2015 and the status as active.
The founder is Veena Ashiya, a NIFT Bangalore graduate who worked with Versace in New York before starting the brand, according to YourStory in January 2018. YourStory and Fibre2Fashion describe her as founder and chief executive; the brand’s own About page calls her “Chief Energy Officer”. The mirrors list her as a director from the day of incorporation, and Gourav Chindlur Prabhakar from 5 October 2019.
The company is older than the brand. YourStory reported in 2018 that Monrow “launched September 2016”, and Inc42 and Apparel Resources also give 2016, while Indian Retailer in 2022 spoke of “its founding in 2015”. Both fit if 2015 refers to the company, which is when the register says it was formed.
Who holds control is not on any published record. Monrow has taken outside investment, described below, but no shareholding pattern has been published and no source read shows a change of control. We tag it Independent because no corporate parent is named anywhere; that does not establish how much of the company its founder holds.
Two register mirrors also give different registered offices. Zauba Corp names a second-floor unit at Nima Crest in J C Industrial Layout, Bengaluru, which matches the manufacturer address on Monrow’s product pages; InstaFinancials names a fourth-floor office at Bhavani Imperial nearby. The site’s own terms and contact page give no registered address and no GST number.
The money: small, founder-reported and uneven
Monrow is a small company, and most of what is published about its turnover comes from the founder or from data pages rather than from filed accounts. The table labels each year by the kind of source behind it. The years are financial years ending 31 March.
| Year to 31 March | Revenue | What kind of figure it is |
|---|---|---|
| 2018 | An “annual run rate” of ₹6 crore | Founder interview, YourStory, 5 January 2018 — a run rate, not a filed result |
| 2022 | ₹13.05 crore | Founder-reported, Indian Retailer interview, 12 November 2022 — not from a filing |
| 2024 | ₹9.78 crore, “down 21%” on the year before | Register mirror, The Company Check |
| 2025 | “₹15.1 Cr+”, “+54.15%” | Inc42 company data page — not an article on the filed accounts |
| 2026 | Not yet published | Accounts fall due after the annual general meeting, by 30 September 2026 |
YourStory, Indian Retailer, The Company Check and Inc42, read 22 September 2026. We have not read the filings themselves.
Read as a series, the figures rise, fall and rise again, but they are not the same kind of number. The 2022 figure is the founder’s own; the 2024 figure is what a register mirror carries; the 2025 figure sits on a data page with no filing cited. The mirrors also disagree about the latest accounts on file: InstaFinancials lists 31 March 2025, The Company Check 31 March 2024, and Zauba Corp and FileSure 31 March 2023.
No profit or loss figure appears for any year in the mirrors or the press. The founder told The Better India, in a story syndicated by Yahoo in January 2021, that the business was “EBITDA positive” in 2020 and that about 85% of sales were online. Fibre2Fashion quoted her in December 2022 saying the brand had grown ten times since 2019. These are her statements, not audited results.
In Indian Retailer and Mediabrief, the founder also spoke of “a 40 crore turnover in just a span of 5 years”. The wording covers five years, so it is not treated here as one year’s revenue.
No year of Monrow’s turnover here comes from a filing we have read, and none carries a profit figure. Treat the growth story as reported, not audited.
- Before launch₹2 crore of founder capital, per 2018 and 2021 reports
- Mar 2021$1 million, investors not named in the report
- May 2022$1 million led by LC Nueva Investment Partners
- Jun 2022₹1 crore charge registered in favour of HDFC Bank
- Aug 2023₹1 crore charge registered in favour of MITCON Credentia Trusteeship
Published totals for the equity rounds differ, so none is printed here.
YourStory, 5 January 2018 and 18 May 2022; Indian Retailer, 12 November 2022; Mediabrief; Yahoo, 18 January 2021; Zauba Corp charge records.
The starting money is given two ways, and the second figure carries no date. YourStory in 2018 and The Better India in 2021 put the initial investment at ₹2 crore; Indian Retailer and Mediabrief quote a “seed fund” of ₹3.5 crore. We print both and pick neither.
The May 2022 round, YourStory reported, was an “additional” $1 million led by LC Nueva Investment Partners, with 9Unicorns, LetsVenture, Vcats and Playbook Fund. The same report called a March 2021 round of $1 million the company’s previous funding, and a 2021 Yahoo headline named Blume Ventures as an investor. Inc42 gives total funding as $1 million across five rounds; YourStory reported two rounds of $1 million each. The two sources may count rounds on different bases.
At the 2022 round the founder said “passion certainly pays off”. The register also carries two open charges of ₹1 crore each, to HDFC Bank and to MITCON Credentia Trusteeship Services, a trustee company.
Who makes Monrow shoes
Three Monrow product pages read on 22 September 2026 give “Country of Origin: India” and a “Manufacturer & Packer” line naming “Trudel Fashion Pvt Ltd, 67, Nima Crest, 2nd Floor” in JC Industrial Area off Kanakapura Road, Bengaluru. That is the company’s own office address, not a factory, and no outside maker is named.
The statutory declarations on Myntra say the same. We read 40 Monrow product records on 22 September 2026 — the block the Legal Metrology rules require, giving the country of origin and the company answerable for the goods. India was the origin on all 40, and the manufacturer line named Trudel Fashion Pvt Ltd at 67 Nima Crest on all 40.
A declaration names the company legally answerable for the goods, which need not be the workshop that stitched them. In 2018 the founder told YourStory she works “closely with manufacturers for better turnaround times”, with about three weeks from factory to shelf. She named no manufacturer then, and no filing or page read names one now.
Because the shoes are declared made in India, no import duty sits in the price. The seller line points the same way: Trudel Fashions Pvt Ltd was seller of record on all 40 listings read. A second form of the company’s name ending “SJIT” also appeared among the sellers shown on seven records.
What Monrow costs in India
Monrow has no home market abroad, so there is no foreign price to set against the Indian one. The comparison that matters is between its own shop and the marketplace.
| Style on monrow.in | Price | Compare-at price shown |
|---|---|---|
| Maire Rose Gold Flats (BF24FO1180RG) | ₹2,399 | ₹2,399 |
| Claris Black Flats (BF24FO1092BL) | ₹2,299 | ₹2,299 |
| Lilli Gold Wedge Heels (BF24HW1166GL) | ₹2,499 | ₹2,499 |
| Fierce Gun Metal Flats (BE39FO1153GM) | ₹1,799 | ₹2,199 |
monrow.in product pages and catalogue, read 22 September 2026; prices “incl. of all taxes”.
Three of the four styles sold at their full listed price, and one was on sale. All four sit at or below ₹2,500, the line under which GST on a pair of shoes is 5% rather than 18% since 22 September 2025. In 2018 the founder gave the price band as ₹1,500 to ₹2,000 a pair.
We sounded 100 distinct Monrow listings on Myntra on 22 September 2026, from a brand listing of 287. The median MRP was ₹2,449 and the median price paid ₹2,259, which is 92.2% of MRP. Only 42 of the 100 were reduced, across 14 distinct MRPs. Heels made up 60 listings, flats 18 and handbags 12.
On 22 September 2026 the median Monrow listing on Myntra sold at 92.2% of its printed price.
Other Indian footwear brands read the same day had lower medians: Tresmode at 86.4% of MRP, Hitz at 57.8% and Alberto Torresi at 54.7%.
The price band here is Mid-range, computed from the ₹2,259 median actually paid on a Myntra shelf that is mostly heels and flats, the brand’s core line. For once the MRP is a fair guide to what a buyer pays. Returns run seven days, with ₹99 deducted for reverse shipping, and the product pages give a one-month warranty.
Vegan, foot research and comfort: what the claims rest on
Monrow sells itself on two ideas: shoes built around Indian women’s feet, and vegan materials. We read the homepage, About page, foot-research page, comfort-technologies page and three product pages on 22 September 2026, and set each claim against what is published beside it.
| Claim, as worded | Number published | Standard, certifier or tester named |
|---|---|---|
| “crafted from vegan-friendly materials” (homepage footer) | None | None on the page |
| “more than 3,000 Indian women’s foot imprints”; “More than 3000 feet were sampled” | 3,000+ | In-house; no institution, date, method or results published |
| “scientifically balanced for everyday hustle” | None | None |
| “Cushioned Footbeds”, “Arch Support Philosophy”, “Anti-Slip Technology”, “Lightweight Construction” | None | No thickness, density, test standard, test house or podiatrist |
| “Cushioning Technology: 24” (Maire flats spec row) | 24, with no unit | None; the page does not say what it measures |
| Each design walked “15,000 steps” by team members (Yahoo, January 2021) | 15,000 | Internal; no outside tester |
monrow.in pages read 22 September 2026; Yahoo syndication of The Better India, 18 January 2021.
The vegan claim has one outside recognition behind it. PETA India’s 2024 Vegan Fashion Awards named Monrow “Best Vegan Women’s Footwear”, for “crafting high-quality, comfortable footwear for women using 100% vegan materials”, in a post dated 12 November 2024. That is an award. The post describes no certification scheme, and no certifier is named beside “vegan-friendly” on the brand’s pages.
The materials themselves are ordinary. The pages read list a “Suede finish” upper on the Claris flats, TPR soles on the Maire and Claris and a PU sole on the Lilli wedge. PU is polyurethane, a synthetic. The founder called “vegan PU leather” sustainable in 2022, and in 2024 spoke of plans for pineapple, banana and sugarcane fibres — plans, not current materials. No page read claims genuine leather or waterproofing.
In Monrow’s favour, it makes no medical claim. The comfort, foot-research and product pages read say nothing about orthopaedic, podiatric or therapeutic benefit. The claims are about fit and feel, and they carry no measurement a buyer could check.
Where it is sold, and how to check a pair
The store locator on monrow.in, read on 22 September 2026, lists about 40 entries by our count, every one inside a multi-brand store. Most are Centro outlets, a Reliance format, with four Shoppers Stop stores and a handful of others; about half are in Telangana and Andhra Pradesh. It lists no Monrow store of its own. The homepage counts “200,000+ Happy Soles”, a figure the brand gives without a date or source.
The site offers no way to check a specific pair — no code, hologram, QR or verification page — and its FAQ covers orders, payments, shipping and returns only. It publishes no list of authorised online sellers either. Such lists exist: Casio India publishes one naming its authorised online watch sellers by company, re-read the same day.
For a buyer, the practical check is the seller line and the declaration. On Myntra, Monrow’s own company was seller of record on all 40 listings read, and the box and listing should name Trudel Fashion Pvt Ltd and India. A different seller or maker is a reason to ask questions before paying.
A search of Indian Kanoon on 22 September 2026 for “Trudel Fashions” and for “monrow shoes” showed no judgment under either name. The same site carries judgments involving other footwear companies, among them Relaxo Footwears, so it does hold cases of this kind. That covers those two names on that site only; district consumer bodies not indexed there are outside it. Treat it as nothing found rather than proof that nothing exists.
Who Monrow is actually for
Monrow suits a woman who wants a flat or a mid-height heel around ₹2,300, made in India, sold by the company that owns the brand, and priced close to what she will actually pay. It suits less well a buyer paying for comfort science, because none of the named technologies comes with a number, a standard or a tester.
Set against Mochi, Metro Shoes or Bata, Monrow is a single-company label, turning over roughly ₹10 crore to ₹15 crore a year on reported figures, with no shops of its own. Its answerability is its strength: one company on the box and the buy button, on all 40 listings read.
Common questions
Is Monrow an Indian brand?
Yes. It is run by Trudel Fashions Private Limited, a private company incorporated in Bengaluru on 31 July 2015, and all 40 Myntra listings read on 22 September 2026 declared India as the country of origin.
Who owns Monrow?
Trudel Fashions Private Limited, founded by Veena Ashiya, who is a director. The company has taken outside investment, including a 2022 round led by LC Nueva Investment Partners, but no shareholding figures have been published.
Are Monrow shoes vegan?
The brand describes its materials as “vegan-friendly”, and PETA India named it Best Vegan Women’s Footwear in its 2024 awards. That is an award, not a certification, and the pages read name no certifier.
Where are Monrow shoes made?
In India, on every declaration read. Both the product pages and 40 Myntra records name Monrow’s own company, Trudel Fashion Pvt Ltd, at its Bengaluru address; no outside factory is named.
What does Monrow cost in India?
On 100 Myntra listings read on 22 September 2026, the median MRP was ₹2,449 and the median paid ₹2,259, which is 92.2% of MRP. On its own site the Maire flats cost ₹2,399 and the Lilli wedges ₹2,499.
References
- monrow.in homepage, read 22 September 2026 — footer naming Trudel Fashions Pvt Ltd and its CIN, “vegan-friendly materials”, “3,000 Indian women’s foot imprints”, “200,000+ Happy Soles”
- monrow.in terms of service and privacy policy, read 22 September 2026 — the operating company, its CIN and spellings
- monrow.in About page, foot research and comfort technologies, read 22 September 2026 — the founder’s title, the sampling claim, the named technologies
- Maire Rose Gold Flats, Claris Black Flats and Lilli Gold Wedge Heels, with the site catalogue, read 22 September 2026 — prices, country of origin, manufacturer and packer, materials, “Cushioning Technology: 24”, returns and warranty
- monrow.in store locator, FAQ and contact page, read 22 September 2026 — stockists, the absence of an authenticity check or seller list, no registered address published
- Zauba Corp, Trudel Fashions Private Limited — incorporation, status, capital, directors, registered office, charges, latest accounts carried (register mirror)
- InstaFinancials, FileSure and The Company Check — incorporation, status, the second registered office, directors, open charges, latest accounts carried, 2023-24 revenue (register mirrors)
- Inc42, Monrow Shoes company page — 2024-25 revenue figure, total funding figure, launch year, Bengaluru
- YourStory, 5 January 2018 — launch date, founder background, starting capital, run rate, manufacturers and lead time, 2018 price band
- YourStory, 18 May 2022 — the 2022 round and its investors, the March 2021 round, the founder’s quotation
- Indian Retailer, 12 November 2022 and Mediabrief — 2021-22 revenue as reported by the founder, the “seed fund”, the “40 crore turnover” line, founding year
- Yahoo, syndicating The Better India, 18 January 2021 — starting capital, “EBITDA positive”, share of sales online, Blume Ventures, the 15,000-step test
- Fibre2Fashion, 23 December 2022 — founder’s title, growth since 2019, “vegan PU leather”
- PETA India, 12 November 2024 — the Best Vegan Women’s Footwear award
- Apparel Resources, 21 November 2024 — launch year, planned plant-based fibres
- Myntra brand listing and product records for Monrow, with the Tresmode, Hitz and Alberto Torresi readings, 22 September 2026 — 287 products, the 100-listing sounding, 40 declarations, manufacturer and sellers of record
- Indian Kanoon searches for “Trudel Fashions” and “monrow shoes”, 22 September 2026, with Relaxo Footwears Ltd vs Bless Footwear, 29 May 2024 as a footwear-company judgment on the same site
- Casio India, authorised online sellers for watches, re-read 22 September 2026 — a brand-published seller list
What is good about Monrow is how little distance there is between the label and the company. Its own Bengaluru business is named as maker and seller on all 40 Myntra listings read, every one declares India, and its pages use no foreign-place wording. On Myntra the median pair sold for ₹2,259, 92.2% of MRP, so the printed price is close to what a buyer pays.
The open questions are about the claims. “Cushioned Footbeds”, “Arch Support Philosophy” and “Anti-Slip Technology” come with no measurement, the 3,000-feet study has no published method, and “vegan-friendly” is backed by a PETA India award rather than a named certificate. The money is on the record mostly as reported figures: no year’s turnover here comes from a filing we have read, and no year has a profit figure.
A straightforward Indian women’s label at a fair ₹2,300 price — buy it for the fit and the pricing close to MRP, and treat the comfort technologies as the brand’s own description.
