Stella Luna Parent Company Nine Hing Holdings Has Declined Significantly.

Nine Hing Holdings, which owns Stella Luna and What For brands, released the third quarter earnings this year, and the total audits in the three months ended September 30th, including the manufacturing business of the group,

Retail sales, inter divisional sales, counter sales and other businesses were about $475 million and $1 billion 192 million 800 thousand respectively, representing a decrease of 16.5% and 12.7% compared with the same period in 2015.

Group leaders revealed that through the selection of new independent stores in China's high potential locations and expansion of their strongholds in Europe, the group will also focus on the long-term competitiveness of the retail business.

Looking ahead, the Group expects orders for footwear products to stabilize at the end of 2016 and early 2017.

The group said that strict cost control and streamlining of labour will continue to enhance operational efficiency.

Among them,

Revenue was $455 million, a decrease of 18.3%; China's retail business revenue increased by 4.6% to $16 million 100 thousand, mainly driven by strong demand for sports shoes.

In the first nine months of this year, the total revenue was 1 billion 193 million US dollars, a decrease of 12.7%.

Among them, manufacturing revenue decreased by 13% from 1 billion 145 million US dollars, and China's retail business revenue decreased by 9.5% US $48 million 800 thousand.

The group will continue to work with global leading retailers and department stores, including

And Barney New York recently introduced group retail brands and sold them on its e-commerce platform, and for the first time extended to new markets such as Hongkong and the United States.