On, the Swiss running brand, witnessed its Q4 net sales go up by more than 50 per cent, while the same for the year rose by a huge 70 per cent – thanks to impressive DTC and wholesale performance.
While the brand’s DTC business grew significantly in Q4 by 76.7 per cent, the wholesale business increased by 39.3 per cent.
The net loss in the Q4 period, however, jumped by 7,195 per cent and the same for the whole year rose by more than 500 per cent. These losses were mainly due to stock compensation tied to its IPO.
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With more than expected sales, gross margin and EBITDA, On raised its 2022 outlook as well.
Buoyed by the good sales numbers, the brand is now eyeing a significant expansion of its product offerings in the running, outdoor and lifestyle categories in 2022 – including new apparel products, shoe styles and accessories.
Besides, On also plans to expand its Nordstrom shop-in-shops this year, and will also expand its partnerships with fashion retailers such as JD Sports and Foot Locker. Notably, there are reports of Dick’s also becoming its wholesale partner.
Founded in 2010, On is today present in over 60 countries across the world.
