Stella International will continue to cut production capacity in China
15/10/2018
In the first nine months of 2018, Stella achieved revenues of just under $1.2 billion, very slightly up (0.5%) on the figure for the same period last year.
With regard to volumes, it shipped 45.1 million pairs of shoes over the nine-month period, which represents an increase of 6.9% year on year.
Chief executive, Lawrence Chen, said Stella was pleased to see “continued recovery in demand for our footwear products” but insisted the company will “seek further manufacturing efficiency gains” in an attempt to boost its margins.
With this in mind, the company has made it clear that it will continue to reduce production capacity in China.
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