Strong DTC growth drives On
Swiss sportswear corporation On reported a 32% year-on-year rise in second-quarter revenue to CHF749.2 million ($925.9 million), exceeding market forecasts.
The company, backed by tennis champion Roger Federer, credited the growth to booming direct-to-consumer (DTC) sales, which rose 47% to CHF308.3 million ($381.0 million) and accounted for 41% of total revenue, a new second-quarter record.
Wholesale sales grew 23% to CHF441.0 million ($544.8 million).
Co-founder and executive co-chair David Allemann said the results confirmed the company’s long-term strategy, pointing to its diversified product range, expansion in apparel, and global brand reach.
On has raised its 2025 full-year revenue forecast to CHF2.91 billion ($3.60 billion) and now expects gross profit margin in the range of 60.5% to 61.0%.
