Athletics brand On reported a remarkable third-quarter performance with a 46.5% YoY increase in net sales, reaching 480.5 million Swiss francs ($539.4 million). The company witnessed substantial growth in direct-to-consumer net sales (54.6% increase to 164.7 million Swiss francs) and wholesale net sales (42.6% increase to 315.7 million Swiss francs). On’s net income surged by nearly 185% to 58.7 million Swiss francs, and the gross profit margin rose from 57.1% to 59.9%. The brand revised its full-year outlook, anticipating net sales of 1.79 billion Swiss francs, reflecting over 46% growth. On attributes its success to strategic DTC channel expansion and plans to concentrate on existing partners and DTC channels, emphasising apparel. Despite a softer market, On aims to maintain growth through careful expansion and maintaining a premium position with partners. The brand’s recent store openings in Miami and London highlight an increased focus on apparel.

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