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On Holding Boosts 2025 Sales Outlook as Record Demand Counters Tariff Pressures

The Federer-backed sportswear brand reports a 43% Q1 sales surge and plans U.S. price adjustments to address rising trade costs.

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Shoes by ON (Run on Clouds), a shoemaker backed by Swiss tennis player Roger Federer, are pictured in the Swiss Sport Style shop ahead of the Initial Public Offering (IPO), in Lausanne, Switzerland, September 14, 2021. REUTERS/Denis Balibouse/File photo
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Overview

  • On Holding raised its full-year 2025 sales growth forecast to at least 28%, up from 27%, after a strong Q1 performance.
  • First-quarter sales climbed 43% to CHF 726.6 million, surpassing analyst expectations and driven by new product launches and collaborations.
  • The company plans selective U.S. price hikes starting in July to offset the impact of new tariffs, including potential 46% duties on Vietnamese exports.
  • April 2025 marked the strongest sales month in On Holding's history, highlighting sustained consumer demand for its premium products.
  • Management acknowledged ongoing global trade uncertainties, including supply chain volatility and currency fluctuations, and adjusted its EBITDA margin forecast to 16.5%-17.5%.