Summary
- On’s shares increased by 8% on Tuesday after the Swiss brand reported a record quarterly net sales of 726.6 million Swiss francs.
- Parent company On Holding AG raised its guidance for 2025 in response to the positive earnings.
On’s strong Q1 earnings have resulted in a record quarterly net sales of 726.6 million Swiss francs, leading the company’s shares to jump 8% on Tuesday morning and prompting the company to raise its annual guidance. According to WWD, the Swiss running net sales increased 43% from last year’s 508.2 million Swiss francs in Q1, which the company has attributed to its direct-to-consumer momentum and wholesale demand.
“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,” said Caspar Coppetti, co-founder and executive co-chairman of On. “As we solidify our premium positioning in the marketplace, we will continue to focus on what differentiates us — combining performance and design with a constant thirst for innovations big and small,” Coppetti continued.
On shared that net sales in Europe, the Middle East, and Africa increased 33.6% to 168.6 million Swiss francs, in the Americas increased 32.7% to 437.4 million Swiss francs, and in Asia-Pacific it grew by 130.1% to 120.6 million Swiss francs. While net sales for shoes increased 40.5% to 680.9 million Swiss francs, apparel and accessories showed strong growth. Apparel net sales increased 93.1% to 38.1 million Swiss francs, and accessories increased by 99.2% to 7.6 million Swiss francs.
On recently unveiled a new collaboration with Loewe centered on the Cloudventure Loewe 2 shoe, building on the duo’s previous footwear offering. The brand also continued its partnership with Zendaya, unveiling a Sci-Fi inspired campaign starring the American actress, wearing the Cloudzone lifestyle sneaker and On’s Studio Knit Bodysuit, crop tops, tights, jackets, tees and shorts.
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