Luxury and high-end focus boosts Stella International
Footwear group Stella International has reported revenues of a little under $700 million for the first six months of this year, a fall of 13.7% compared to the same months last year.
In terms of volume, the group shipped 23.6 million pairs in the January-June period in 2023, a decline of 18.6% year on year.
On a positive note, its footwear had an average price per pair of $29.60 in the first half of 2023, up by 6.5%. It said this increase was mostly driven by changes to its product mix.
Group chairman, Lawrence Chen, described this as adding new luxury and high-end fashion customers.
Mr Chen, said the group had a three-year plan in place that it remained committed to. He said it remained confident about growing profitability and “achieving ongoing margin expansion in the medium-to-long-term.”
