On looks to China, adjacencies for next growth phase
Now just over two years since filing for its initial public offering (IPO) in New York, Swiss performance shoe business On has told investors that its long-term vision is “to build the most premium global sportswear brand”.
Targets for this next growth phase include doubling expected 2023 net sales by 2026. It plans to achieve this by gaining a 10% share apiece in China, own retail and athletic apparel in relation to net sales.
“We have an exciting product pipeline that includes running, training and tennis footwear,” said co-chief executive and chief financial officer, Martin Hoffmann, of current company objectives.
“Additionally, we believe there are huge opportunities to increase brand awareness and to expand through our multichannel approach.”
Co-chief executive Marc Maurer called On’s addressable market “very large” and described how “controlled expansion into adjacencies” would be the business' core strategy moving forward.
Image: On.
