By CHEN Qirui
Having exploded in popularity recently, Balenciaga’s Triple S sneakers, have claimed their place in the luxury arena. The dazzling design and classic colors have sparked a vintage trend among young people on social media.
The footwear manufacturer behind Balenciaga, Stella International Holdings Ltd., took US$1.3 billion (9.3 billion yuan) in revenue in the first nine months. Q3 revenue grew 4.8 percent to US$461 million.
Established in 1992 in Taiwan, the company is one of the largest footwear manufacturers in the world, primarily targeting the Chinese market. In 2007, Stella was listed on the Hong Kong Stock Exchange, stretching its reach into Asia, North America, and Europe.
Leisure, sports, fashion, and luxury are the four main parts of Stella’s business, with sports giants such as Nike, Under Armour, and fashion brands Balenciaga and Prada being its big customers. The sports sector takes up 42.3 percent of manufacturing capacity.
The luxury part, which accounts for only 8.8 percent, is growing fast, though inflation looms in the U.S. and European markets. Issues of supply chain and production persist, as well as sustaining good relationships with regular customers.
New factories in Indonesia will pitch to the luxury end, where craftsmanship is the way to customers’ hearts.
