On Reveals Plans to Launch Golf and Football Categories as It Targets $7 Billion USD in 2029 Sales
Co-CEO Caspar Coppetti announced the golf category launch for early 2027 at On’s Zurich investor day.
Summary
Swiss sportswear brand outlines 2029 targets approaching $7 billion in absolute net sales
Expansions into golf and football product ranges are officially slated for early 2027
Strategic shift to U.S. dollar reporting will align financials with actual business economics
Swiss sportswear powerhouse On revealed its plan to disrupt the country club during its investor day at the Zurich headquarters on Tuesday. Executives laid out a three-year growth plan to secure 2029 ambitions. The brand is mapping its evolution as a publicly traded company by entering major global sports. Co-chief executive officer Caspar Coppetti announced that the label will add a golf category to its roster in early 2027. Internal backing for the move includes chief design officer Thilo Brunner and president Scott Maguire, who are both avid golfers. Tennis icon Roger Federer attended the event to express excitement for the extension into the golf space.
Football represents another arena receiving the Swiss treatment following a recent partnership with superstar Kylian Mbappé. Linking with the French forward generated $8 billion USD in earned media reach, according to founder and co-chief executive officer David Allemann. This cultural alignment shifts the demographic younger, as 72 percent of followers gained since the announcement are under the age of 35. Digital momentum supports the upcoming release of the first On Football product range in 2027. Diversifying into these segments moves the company from a specialized running label into a multi-sport powerhouse capable of sustaining momentum on the public market.
The Zurich-based label established specific financial targets for the road to 2029 to support its expansion. Management set a goal to reach at least 5.6 billion Swiss francs, which is approximately $7 billion USD, in absolute net sales by the end of the decade. High-teens constant currency growth is anticipated over the next three years. Existing categories remain the primary engine, with over 75 percent of the net sales addition planned to come from established run, lifestyle and apparel verticals. For the third quarter of 2026, On forecasts a constant currency net sales growth rate of roughly 17 percent and expects up to $65 million USD in tariff refunds.
Profitability goals remain high as the brand scales. Executives committed to maintaining a gross profit margin of at least 65 percent throughout the next three years. The label also aims to reach an adjusted EBITDA margin of at least 22 percent by 2029. Chief financial officer Frank Sluis announced On will transition to U.S. dollar reporting as early as 2027. Switching reporting currencies aligns the financials with the economics of the business and the currency of its share price.
