On to push further into fashion as sales jump 50%
Footwear and sportswear brand On has “significantly exceeded expectations”, growing sales 47% to CHF 1,792.1 million (£1.6 billion) in 2023.
For the full year 2024, it expects to achieve sales growth rate of at least 30%.
Martin Hoffmann, co-CEO and chief financial officer of On, said: “2023 was another exceptional year. Our big thank you and admiration goes to our now over 2,400 team members, who are passionately working towards making our vision a reality every day.”
David Allemann, co-founder and executive co-chairman of On, added that while its portfolio caters first to athletes and runners, it can see wider opportunities in the evolving sports and fashion landscape.
He added: “As we look to further expand our presence in the global premium sportswear market, we have put a big emphasis on building awareness for our apparel offering. Based on the recent success, new and updated products and supported by our own retail store rollout, we expect to significantly build this category over the next years."
