Stella International Holdings Ltd announced its plan to expand its own brands in Paris. The move will make the Asian shoemaker a lower priced competitor to luxury clients in the market. Stella International Holdings Ltd plans to add two more shops in Paris by the end of this year and has set plans to find other locations for its store in Europe.
Chief executive of Stella International Holdings Ltd, Stephen Chi said, "We want to be an international brand. We want to build a global platform and bring affordable luxury for women around the world."
Stella's decision puts them against larger and well known brands including LVMH Moet Hennessy Louis Vuitton SA and Prada. Both companies are clients of Stella's contract manufacturing business. Currently, many western brands are rushing into the Chinese market to grab a slice of the country's luxury market to tap rising incomes. Stella, which has about 400 stores in China, will jump the market trend to expand in the opposite direction.
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