Stella International reports fall for 2023, but takes heart from Q4
Footwear and leathergoods group Stella International has reported full-year revenues of just under $1.5 billion for 2023, a decline of 8.9% compared to the previous year.
In terms of volume, Stella shipped 49 million pairs of footwear in 2023, down by 12.5% compared to the figure for 2022.
On a positive note, the average price per pair that it achieved went up, from $28.50 in 2022 to $29.70.
Stella said it was pleased to be able to point to growth in its results for the fourth quarter of 2023. In that quarter, its revenues rose by 13.5% in comparative terms to $380.3 million, while its footwear production rose by 6.8% year on year to 13.2 million pairs.
Chief executive of the Hong Kong-based group, Chi Lo-Jen, commented: “The unique, premium products we have developed for our customers are continuing to perform well in the market. Some customers wanted to replenish their inventory and requested earlier shipments in the last quarter of 2023, leading to a better-than-expected performance and further demonstrating the success of our strategy.”
