On Running Triples Net Profit in 2024 Exceeding $2.6 Billion USD in Sales

In its latest report, On Holding AG (parent to On Running) revealed that it made roughly $2.6 billion USD in sales in the 2024 fiscal year, tripling its net profit from the previous year. According to analysis from Fashion United, the strong results exceeded last year’s original targets, prompting the Swiss company to shoot for even bigger numbers in the coming year.

In November 2024, Swiss athletic brand On Running increased its forecast for 2024, after reporting strong third-quarter results with a record revenue of CHF 635.8 million Swiss francs ($717.6 million USD), up 32.3% from the year prior. Looking ahead, the company revised its annual forecast to 2.29 billion Swiss francs and successfully surpassed it, with 2024 sales amounting to 2.32 billion Swiss francs. The company’s final quarter gave it an extra boost with Q4 increasing by 35.7% year-over-year.

The running brand’s strong direct-to-consumer sales have driven the growth, showing an increase of 40.3%. However, the company’s wholesale channels have also grown with third-party sales going up 22.8%. Regionally, sales in the Asia-Pacific market made it On’s strongest segment, surging by 84.5%. Elsewhere, in the Americas sales increased by more than a quarter and in the EMEA region, sales increased by 18.2%.

As a result, net profit was more than three times higher than 2023’s 79.6 million Swiss francs, at 242.3 million Swiss francs. According to Fashion United, On Holding AG forecasts a 2025 sales increase of at least 27%, amounting to $3.3 billion USD (2.94 billion Swiss francs).

The brand’s success is closely tied to the growing interest in performance athletic gear, resulting in numerous collaborations including partners like Kith and Post Archival Faction (PAF) and tie-ups with American actress Zendaya and experimental singer FKA Twigs.