PARIS, France - Stella International Holdings Ltd., the Asian shoemaker who manufactures for companies such as Prada SpA, plans to expand its own brand in Paris, to a competitor for a lower price are luxury client.
The contract manufacturer plans to add two stores in Paris until the end of this year and grow in other places in Europe, Stephen Chi, CEO of women's footwear company and Retail Trade Division, said in telephone interview on 1 October July. The company, founded in Taiwan and listed on the Hong Kong Stock Exchange, already has a shop in Paris.
In the fashion capital of the world, Stella is bigger and better known, including Prada and LVMH Moet Hennessy Louis Vuitton SA labels. Brands of both companies are the company's contract manufacturing Stella customers, according to its website. Western brands rushed into the Chinese market to grab a piece of the country's luxury market to tap rising incomes. Stella, with over 400 stores in China in March, would be against the tendency to grow in the opposite direction.
"We want to be an international brand," Chi said. "We want to build a global platform and affordable luxury to women worldwide."
Its first European office in Paris specializing in women's shoes from 250 € to 600 € ($ 327 - $ 785) priced about a third of the cost of a pair of Prada shoes.
Miu Miu
Established in Taiwan in 1982, Stella has made shoes for luxury brands such as Givenchy LVMH. The shoemaker does not attempt to compete with luxury customers Givenchy, Chi said.
After years of producing luxury brands, it is to draw from the experiences and produce shoes under its own brands, benefit, he said.
"We are not in Prada, Givenchy and Miu Miu," he said. "We want only the best brand in terms of quality and price."
Prada has not commented on his relationship with Stella and an official of the LVMH did not return calls and e-mail seeking comment immediately.
Stella also manufactures for companies of sport shoes such as Clarks, Ecco, Rockport and Timberland. Manufacturing accounted for the largest part of the business, or about 92 percent of the $ 1.55 billion of total revenue in 2012.
The company expects that its retail business for 20 percent of total sales for the next five years as it opened more stores and develops in other categories such as handbags and accessories. It provides that the retail sector in "double-digit" growth to continue this year, Chi said.
The shoemaker in 2006 began selling its proprietary "Stella Luna" and "what for" imported brand in mainland China, and has recently launched the brand "JKJY". Retail sales rose 21 percent to $ 119.4 million in 2012, and their contribution to the overall turnover of the company stood at 7.7 percent compared to 6.6 percent the previous year.
Parisians are very demanding in terms of quality and design, the chi, who is also a director and the chief designer of the company. "If we can be successful in Paris, we have a lot easier anywhere else."
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