Stella will continue to move production out of China
13/07/2016
In terms of volume, the decline was 4.5%, falling to 25.4 million pairs in the first six months of 2016. The average sales price per pair over this period was $27.10, compared to $28.50 during the same period in 2015.
Chief executive, Lawrence Chen, said the two main aspects of Stella’s strategy for restoring growth are to make its shoe factories more efficient and to improve the quality of its products. He said the company will move production away from China.
At the start of 2016, Stella closed a factory in Dongguan that employed 10,000 people, citing rising costs as the reason.
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