0.40%The Swiss footwear brand, On, continues its prominence as one of the top global footwear brands with record quarterly sales of 726.6 million CHF for Q1 2025.
Founded back in 2010 by former Swiss Ironman champion Olivier Bernhard with David Allemann and Caspar Coppetti, On Running is still a relatively new player on the innovative footwear game that has quickly become a key competitor to the likes of adidas, Nike, New Balance, Brooks, Saucony, Asics & Mizuno. On’s running trainer innovation was recently taken to new levels with the launch of their latest Cloud Surfer 2 trainer which utilised the brand’s very own innovative CloudTec Phase® technology. After reporting 2 billion CHF in sales for 2024, the Swiss footwear brand has now reported record quarterly sales for Q1 2025 with an increase of 43% to a total of 726.6 million CHF sales for the quarter. Shares in On Holding AG (ON ON) were up nearly 12% in late afternoon trading yesterday as the Swiss company also raised its guidance, in stark contrast to other footwear & apparel companies who are currently proceeding with caution under Trump’s ever-changing tariffs and economic uncertainty. As On continues its ‘on’going momentum, and positions itself as a top global footwear brand, it’s not all doom & gloom.
Thanks to On’s multi-channel strategy & continued growth in the brand’s DTC (direct to consumer) & wholesale channels, On reported a total revenue of 726.6 CHF for the quarter which was up 43% compared to 508.2 CHF from the same period last year. DTC sales increased by 45% for the quarter to 276.9 CHF & their wholesale channel grew by 42% to 449.7 CHF. Regionally EMEA (Europe, Middle East & Africa) total sales grew by 34% to 168.6 CHF whilst the Americas also increased by 33% to 437.4 CHF. Sales in the Asia Pacific were also up by a staggering 130% to 120.6 million CHF.
By category total footwear sales were up by 41% to 680.9 million CHF, apparel was up by 93% to 38.1 million CHF & accessories were also up by 99% to 7.6 million CHF for Q1 2025. Following the outstanding quartley results, On has raised its full year sales guidance for 2025 and now expects around 2.86 billion CHF in total sales with an adjusted EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin of between 16.5% & 17.5%. Also don’t forget to subscribe to Sneaker Jobs & follow @sneaker_jobs to keep up to date with all the latest industry news.
Q1 sales were further elevated by product launches like the Cloud 6 and the Cloud Surfer 2. We are thrilled to see that the continued growing strength of our DTC channel as well as improved operational execution across our supply chain have further contributed to a significant profitability expansion.
Martin Hoffman – CEO & Chief financial officer
