On’s Shares Soar 8% After Record Quarterly Sales
On, the Swiss brand known for its innovative running shoes, has reported a record-breaking first quarter with net sales reaching an impressive 726.6 million Swiss francs. This news has caused a surge in the company’s shares, which jumped 8% on Tuesday morning. As a result, parent company On Holding AG has raised its guidance for 2025, reflecting the positive earnings.
According to WWD, On’s net sales have increased by a whopping 43% compared to the same period last year, when it reached 508.2 million Swiss francs. The company attributes this growth to its strong direct-to-consumer momentum and high demand from wholesale partners.
Co-founder and executive co-chairman of On, Caspar Coppetti, expressed his excitement for the company’s future, stating, “Looking into the second quarter and beyond, we are energized by the global traction and cultural resonance of On as a head-to-toe sportswear brand.” He also emphasized the brand’s focus on innovation and its unique combination of performance and design.
On’s net sales have seen significant growth in all regions, with Europe, the Middle East, and Africa increasing by 33.6%, the Americas by 32.7%, and Asia-Pacific by 130.1%. The company’s shoe sales have also seen a significant increase of 40.5%, while apparel and accessories have shown strong growth as well. Apparel net sales have increased by 93.1%, and accessories by 99.2%.
In addition to its impressive sales numbers, On has also made headlines for its recent collaborations. The brand has teamed up with luxury fashion house Loewe for a new version of its popular Cloudventure shoe, and has continued its partnership with actress Zendaya, featuring her in a futuristic campaign wearing On’s Studio Knit Bodysuit and other sportswear pieces.
Stay tuned to Hypebeast for the latest news in the fashion industry and keep an eye on On as it continues to make waves with its innovative products and partnerships.
