Swiss athletic footwear and apparel brand On achieved revenues of 420.2 million Swiss francs (CHF) in first quarter of 2023. This figure represents an increase of 78.2% year on year.

Co-chief executive Martin Hoffmann said this was a record figure for the brand, which launched in 2010. 

Mr Hoffmann said a new On store in London had got off to “an exceptionally strong start” and that the brand, most famous for running shoes, had made a successful expansion into tennis. Iga Swiatek and Ben Shelton are among the players who have begun to wear On footwear in tournaments. In 2019, tennis star Roger Federer became an investor in the brand.

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