For the three months ended December 31, 2019, Stella International Holding’s unaudited consolidated revenue declined 10.6% to approximately US$345.4 million, compared with US$386.5 million in the same period of 2018. The Group said it continued to focus on margin expansion over volume growth in the period. For the year ended December 31, 2019, consolidated revenue totalled US$1,545.3 million, down from US$1,595.9 million a year earlier.

Revenue from Stella’s manufacturing operations decreased 9.2% and 1.3% to US$339.9 million and US$1,530.3 million, respectively, in the three months and year ended December 31. “This was mostly driven by a decrease in shipment volumes, which fell by 8.6% and 1.3% over the same periods to 13.8 million pairs and 59.4 million pairs respectively”, said the Group in a statement, adding that it continued to see “robust ordering activity” for its fashion sports footwear segment. Lawrence Chen, Chairman, Stella International Holdings, said the Group remains confident for 2020 as it aims to further expand its manufacturing operations in South East Asia, particularly in Indonesia.

The Group’s first factory was established in Taiwan in 1982. It opened a manufacturing facility in Vietnam in 1998, where it later built a dedicated sports footwear factory in 2017 and a second phase of expansion commenced in 2018. In 2010, operations migrated to mainland China and in 2012 a new production line opened in Indonesia. Headquartered in Hong Kong, Stella’s clients include Prada, Timberland, Ugg, Clarks, Teva, Coach, Nike and Stuart Weitzman.