Stella Q1 revenue driven by higher selling prices

Hong Kong
Published:  22 April, 2022
Credit: Stella

The footwear manufacturer and retailer, which also owns Simona Tanning, has reported its first quarter 2022 financial results.

Unaudited consolidated revenue for the quarter increased by 26.3% year-on-year to US$383.3 million. Shipment volumes in the period increased by 16.7%.

Results for the period were primarily driven by the fashion, sports and luxury footwear segments, which also drove an increase to average selling price.

Lawrence Chen, Chairman of the Group, said: “In addition to continued margin expansion, investment is also a major focus this year. We have committed to investing US$120 million for another new factory in Indonesia to support our major sports customer, which will expand our capacity by 15 million pairs after it fully ramps up within the next couple of years.

“With this clear plan, we aim to create long-term value and higher returns to our shareholders, both in 2022 and even more in the years to come.”