This was mainly attributable to a low base, as the first quarter of 2020 was heavily impacted by the COVID-19 pandemic.

In this quarter, footwear manufacturing revenue increased by 16.8% to 299.8 million US dollars, including a 9.1% increase in the number of pairs to 12.0 million. The average selling price rose by 7.3% to 25.00 US dollars, driven by changes in its product mix and customer mix.

Stella is cautiously optimistic regarding forecasts. Mr. Chi Lo-Jen, Chief Executive Officer of the Group said: “Heading into the rest of 2021, we will continue to prioritise margin improvement, while further improving our capabilities to attract more high-quality customers. Including our manufacturing business, branding business and other businesses not covered hereof, and after the elimination of inter-segment sales. We will aim to capitalise on promising opportunities that match our business model and proven R&D and commercialisation capabilities, particularly those in our Sports and Luxury categories.”  

Mr. Lawrence Chen, Chairman of the Group, added: “We are pushing forward with our long-term strategies, including expanding our capacity in Southeast Asia. We will also continue to work and grow with our customers who are expanding into new categories such as athleisure. These initiatives will facilitate the future growth of our business and deliver sustainable returns to our shareholders.”