Swiss sportswear corporation On has reported a strong start to the fiscal year 2024.

Achieving record net sales of CHF 508.2 million ($560 million) in the first quarter, an increase of 20.9% year-over-year, the notable growth was primarily attributed to a significant uptick in direct-to-consumer ("DTC") sales, which surged by 39.0% year-over-year and 48.7% on a constant currency basis.

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