CONNECT WITH US
eCommerce

eCommerce

On Holding Posts Record Results as It Holds to Premium Positioning

WWD logo

Published on

Add as a preferred source on Google
On Holding Posts Record Results as It Holds to Premium Positioning

The Zurich-based running brand is beginning to focus more on soccer, tennis and apparel.

The Zurich-based company reported record sales and its highest gross profit margin in its third-quarter financial update early Tuesday.

For the period ended Sept. 30, On’s sales rose 17.2 percent over a year earlier, hitting 931.4 million Swiss francs, or $1.1 billion at current exchange. Net income jumped 36.9 percent to 162.8 million Swiss francs. Gross profits increased 29.5 percent to 676 million francs and gross profit margin hit 72.6 percent, up from 65.7 percent in the prior-year period.

Sales through the direct-to-consumer channel rose 25 percent to 393.3 million francs, while wholesale sales increased 12.2 percent to 538.2 million francs.

And the gains were strong across the board with net sales in Europe, the Middle East and Africa increasing 17.9 percent to 251.4 million francs; the Americas rising 12.4 percent to 490.1 million francs and Asia-Pacific up 31.1 percent to 189.9 million.

By category, sales of shoes rose 15.4 percent to 843.7 million francs; apparel sales rose 38.7 percent to 69.5 million francs, and accessories were up 39.2 percent to 18.1 million francs.

Caspar Coppetti, founder and co-chief executive officer, said: “Seven weeks after our investor day, we are seeing the On premium playbook do exactly what it was built to do: create breakthrough products, validated by the world’s best athletes and brought to life through premium experiences wherever our fans meet us. The Cloudsurfer 3 is the first proof point of our biggest innovation cycle — and it is just getting started.


Source link
Related Topics:eCommerce

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.