On reports strong first quarter

The company expects its full year net sales figure to show a growth of at least 30 per cent.

Swiss sportswear producer On has announced positive financial results for Q1 of 2024, having recorded net sales in excess of CHF 500 million (GBP 432.7 million/USD 549.5 million) in a single quarter for the first time in its history. The company’s total net sales for the first three months of the year reached CHF 508.2 million, which represented a year-on-year growth of 20.9 per cent.

According to On, this success was led by efficient inventory management and exceptionally strong demand and momentum in the company’s direct-to-consumer (‘DTC’) channel, with net sales from this strategy increasing in the first quarter by 39.0 per cent when compared to the same period in 2023. DTC net sales now make up 37.5 per cent of On’s total net sales.

The company has advised that it expects its full year net sales figure to show a growth of at least 30 per cent, which would translate to revenue amounting to a minimum of CHF 2.29 billion (GBP 1.98 billion/USD 2.52 billion).

Publishing Data

This article was originally published on page 2 of the May 2024 issue of SATRA Bulletin.

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