Profits turn around for Stella in H1-2021

Hong Kong
Published:  19 August, 2021

Footwear and leather manufacturer Stella International saw a revenue increase of 36% to US$695.5 million for the first half of 2021.

Net profits recovered from a low net loss of US$5.2 million in the first half of 2020 to US$32.2 million. Thanks to the positive results, the Group plans to continue a margin-accretive strategy, with a new factory in Solo, Indonesia to commence operations in the third quarter of the 2021 fiscal year.

The manufacturer also expects its product mix to continue to normalise as demand for casual and fashion footwear products recovers, while sports footwear remains its main driver in addition to the luxury footwear category, which is a focus for new customers.