H1 growth in volume and value for Stella International
Footwear group Stella International has reported revenues of $827.2 million for the first six months of 2022, an increase of 18.9% compared to the same period last year.
Over the period, it shipped 29 million pairs of shoes, an increase in volume of 9.4% year on year.
Stella said it remained “cautiously optimistic” about seeing a moderate increase in full-year shipment volumes compared to 2021, although it pointed out that the rapidly changing macroeconomic and geopolitical environment was “clouding order-book visibility for the second half of the year”. Chief executive, Chi Lo-Jen said Stella had “weathered the storm well so far”.
The company also said it remained committed to its plans to build new manufacturing facilities in Indonesia.
Chairman of the group, Lawrence Chen, said: “As inflation and higher interest rates start to impact consumer sentiment, demand for some of our products may be less promising in the subsequent months compared to plans set at the beginning of the year. But the long-term fundamentals of our business remain strong.”
