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6d ago

On Holding Reports Record Sales and Raises 2025 Growth Forecast

The Swiss athletic brand saw a 43% surge in Q1 2025 net sales, driven by strong direct-to-consumer growth, regional gains, and new product launches, while preparing for U.S. price adjustments to counter tariff impacts.

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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

Overview

  • On Holding posted record Q1 2025 net sales of 726.6 million Swiss francs, a 43% year-over-year increase, exceeding analyst expectations.
  • The company raised its full-year 2025 net sales growth forecast to at least 28%, up from 27%, citing sustained global demand.
  • Direct-to-consumer sales grew 45.3%, accounting for 38.1% of total revenue, with significant regional growth in Asia-Pacific, EMEA, and the Americas.
  • U.S. price increases are planned for July to offset potential tariff impacts from ongoing trade policy shifts affecting key sourcing countries Vietnam and Indonesia.
  • New product launches, including the Cloud 6 and Cloudsurfer 2, and high-profile collaborations with Zendaya and FKA Twigs contributed to the brand's strong performance.