Stella International sees revenue climb 35.6% in 2021

Hong Kong
Published:  14 January, 2022
Credit: Stella Luna

The footwear manufacturer and retailer has announced its fourth-quarter financial results for 2021, showing unaudited consolidated revenue up 44.9% year-on-year to US$405.8 million. 2020 was impacted by the pandemic. 

Unaudited consolidated revenue for the year as a whole was US$1.5 billion, up 35.6%, which the company attributed to continued order recovery in manufacturing across all product categories.

Shipment volumes for the fourth quarter grew 33.3%, while shipment volumes for the year as a whole grew 28.6%, with the average selling price of products also increasing across the year.

Looking forward, the company is optimistic about order levels for the upcoming Spring and Summer 2022 season, but will continue to closely monitor potential headwinds, including the Covid-19 situation in Southeast Asia and the PRC.

Lawrence Chen, Chairman of the Group, said: “Heading into 2022, building further on the solid margin improvements realised in 2021, we remain focused on achieving profitable and sustainable long-term growth. This includes expanding our manufacturing capacity in Southeast Asia and further building up our high-end athleisure footwear offering.”