On targets high-teens sales growth through 2029
Swiss sportswear brand On has set out plans for high-teens constant-currency net sales growth through 2029, with new categories including football and golf forming part of its expansion strategy.
At its Investor Day in Zurich on September 22, On said its existing Run, Sneaker and Apparel businesses would be key growth drivers, alongside expansion into new sports categories.
The company is targeting net sales of at least CHF 5.6 billion in 2029, equivalent to almost US$7 billion at current exchange rates. It also aims to maintain a gross profit margin of at least 65% and reach an adjusted EBITDA margin of at least 22% by 2029.
On said it expects adjusted EBITDA to grow at a compound annual rate of more than 20% between 2026 and 2029. The company also announced that its board has authorised a share repurchase programme of up to US$1 billion through the end of 2029.
On said it is on track to exceed the financial targets set at its previous Investor Day in 2023 and has reiterated its full-year 2026 outlook.
