On Reports Record Revenues and Increased Profit in Q2
With net profit climbing an impressive 156.5% in the first half of this year to reach roughly $141.3 million USD.
Swiss running label On Running set new records in the second quarter of this year, with revenues climbing 28% to reach CHF 567.7 million ($654.4 million USD) in the three months ending on June 30. Notably, the company reached net sales of CHF 1.08 billion ($1.25 billion USD) in the first half of this year thanks to “the strength of the multichannel strategy across all markets and products, with an excellent performance in Asia Pacific.”
Outside of revenue, the company’s net profit also soared to new heights. In the second quarter, On achieved profits of CHF 30.8 million ($35.6 million USD), moving the company’s half-year net profit tally to CHF 122.2 million ($141.3 million USD), marking a whopping 156.5% increase from the same figure last year.
Highlights from the company’s second quarter include the launch of its tennis apparel division, as well as a new partnership with FKA Twigs, who will lead design on a new performancewear line. Additionally, Zendaya became an official ambassador for the brand and fronted a number of campaigns alongside fellow ambassador Roger Federer.
“We are coming out of the summer with a lot of confidence and are extremely excited about On’s trajectory,” said David Allemann, the brand’s co-founder and executive co-chairman. Looking ahead, the company expects to see sales grow by at least another 30% to reach net sales of CHF 2.26 billion ($2.61 billion USD) or more.
See the full financial report here.
