Sneakers and European markets drive Chinese Stella Footwear’s business remarkably. The footwear giant, headquartered in Hong Kong, announced that in the third quarter revenues coming from shoes manufacturing decreased by 2,5%, though they increased by 1,4% in the first nine months of the year, compared to 2016 same period, thus going up to 1,16 billion US dollars (1 billion euros). As for volumes, they increased by 4,1% in the quarter closed on September 30 (15,2 million pair of shoes) and by 5,5% from January till September (42,2 million pair of shoes). Higher revenues and export volumes, in the first nine months of 2017, mostly depend on the growing demand for athleisure items. In Europe retail business has been speeding up (+28,3%) through three different brands: Stella Luna, What For and JKJY by Stella. The company announces that they will carry on with their business strategy, as they aim to expand their retail sales network in Europe; though they also stressed their concern over prospective international scenarios, namely potential military escalation between North Korea and the USA, as well as Brexit.
Chinese Stella Footwear’s business goes up and down while they are booming in Europe (and say thanks to sneakers)
