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.

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