0.11%Following on from the recent launch of their Cloud Surfer 2 trainer, the Swiss footwear brand On has now reported 2 billion CHF in sales for 2024.
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 sneaker game that has quickly become a key competitor to the likes of Nike, New Balance & Saucony. 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. The Swiss footwear brand has now reported its latest financials for the full fiscal 2024 year with co-chief executive officer Martin Hoffmann citing the Cloud Monster & Cloud Surfer for the brands continued sales growth driven by its performance running silhouettes.
For Q4 2024 up to Dec 31st 2024, net sales grew by 35.7% to 606.6 million CHF & net income totaled 89.5 million CHF, a massive difference to the 26.8 million CHF loss from the same period last year. For the full fiscal 2024 year On reported a sales increase of 29.4% topping 2.3 billion CHF compared to 1.8 billion CHF in 2023. Footwear was the key category for On for 2024 with footwear sales increasing by 28.5% to 2.2 billion CHF. Apparel sales also saw strong growth for On which were up by 46.7% to 101 million CHF for the year.
A recovery in profit for the Zurich based footwear brand puts the company in a strong position for 2025 with the forthcoming launch of their Cloud 6 silhouette as well as the Cloudsurfer 2 which launched last month. The company expects a sales growth of around 27% for the full fiscal 2025 year with sales expected to reach the 3 billion CHF mark. Over the last three years, On Holding has delivered a total shareholder return of 130.82%. The companies enhanced profitability & consistent earnings growth puts it well above over footwear companies in the current climate of uncertainty & Trump’s latest import tariffs. Also don’t forget to subscribe to Sneaker Jobs & follow @sneaker_jobs to keep up to date with all the latest industry news.
