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Stella International vows vigilance over trade tensions
2018/4/16 14:04:56 Source: footwearbiz Author: 点击率:

Footwear group Stella International shipped 12.4 million pairs of shoes in the first quarter of 2018, an increase in volume compared to the same quarter last year of 7.8%.

Trade tensions between China and the US that have built up since the end of the quarter have not yet directly affected the group, but chairman, Jack Chiang, has said Stella will remain “highly vigilant” of risks emerging from the external environment. Mr Chiang said: “We will focus further on our research and development, improving our production allocation and processes, as well as on efficiency and cost controls.”

In 2016, Stella said it was making 66% of its shoes in China (following factory closures there) with the other 34% being made in factories elsewhere, including in Vietnam, Indonesia, Bangladesh and the Philippines.

Average selling price per pair in the first quarter of 2018 fell, though, by 6.4% to reach $23.20. Stella has reported revenues for the quarter of $287.4 million for its shoe manufacturing operations, up verly slightly (0.6%) compared to the corresponding figure for the first quarter of 2017.

Chief executive, Lawrence Chen, commented: “I am pleased to see further recovery in our overall shipment volumes, which we expect will continue. We will continue to work to increase the value and quality of our footwear products.”

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