Swiss athletic footwear and performance sportswear company On has reported an all-time high sales quarter with a 32.2 per cent rise to US $ 720.5 million.
The sales surge was significantly impacted by the 49.8 per cent increase in the brand’s DTC sales performance.
As per reports, the Asia-Pacific region was the key driver for growth as the sales went up by 79.3 per cent in that region during the quarter. Followed by the sales performance of the Middle East and America along with Europe, which went up by 34.1 per cent and 15.1 per cent respectively.
The company registered a 34 per cent rise in gross profits; however, net income suffered a drop of 48 per cent.
Co-founder and Co-Chairman of On, Caspar Coppetti, said, “This quarter’s record results are a testament to the incredible momentum we have built.”
Coppetti also emphasised that the brand has made progress in elevating its presence to enhancing performance and sustainability efforts, and expanding its premium reach across various channels.
This year’s first nine months have seen a 27.3 per cent increase in the brand’s net sales and the DTC sector has registered a growth of 39 per cent in sales with the net income going up by 43.6 per cent.
The company has upgraded its full-year forecast, anticipating at least a 32 per cent increase in net sales.
