Revenue for the year totalled US$1.63 billion, which Stella said was supported by a 5.2% growth in the average selling price.
In the period ended December 31, 2022, the company increasing shipment volumes by 0.4% to 56 million pairs, led by its fashion and sports segments. Meanwhile, Stella achieved a net profit of US$117.2 million, an increase of 29.1% year-on-year.
Looking forward to the 2023 financial year results, Stella reports that it is embarking on a three-year plan from 2023 to 2025, which will include:
- Enhancing its category mix by deepening relationships with major sports, luxury and high-end fashion brands
- Expanding and diversifying manufacturing capacity to protect its cost base, including ramping up a new footwear factory in Indonesia which began operations in 2022
- Optimising management effectiveness and efficiency
- Strengthening cost efficiency and improving working capital
- Increasing operational efficiency
CEO Chi Lo-Jen said: “While 2022 posed more challenges than expected, we navigated these well, delivering higher gross and operating profit margins as we implemented our growth strategies and improved our product and customer mix. This is convincing proof that we are on the right path to secure future profitability growth and returns for our shareholders.”