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On Holding AG is a rapidly growing sports company based in Zurich, Switzerland, with additional offices in Yokohama, Japan, and Portland, Oregon. The company is renowned for developing and marketing innovative running shoe technology, with a mission to make running a fun and accessible sport for everyone.
On's groundbreaking CloudTec® system, which has received worldwide patents, is at the heart of its product line. This technology has garnered numerous awards, including the Gold Award for Best Performance Shoe 2013 at the International ISPO Sports Fair. On’s reputation for quality and innovation is further evidenced by its presence in over 1,800 running specialist stores across 30 countries within just five years of its launch.
Notable for its rapid growth, On has been featured in major publications such as Bloomberg, Fox Business News, Forbes, Wall Street Journal, ESPN Magazine, The Independent, The Guardian, Wallpaper Magazine, Monocle, Wired, GQ, Men’s Health, and Runner’s World. The brand is also endorsed by over 80 elite athletes, including Olympic Gold Medalist Nicola Spirig.
On Holding AG does not manufacture its products or raw materials; instead, it relies on third-party suppliers and contract manufacturers. The company offers a wide range of shoes, apparel, and accessories designed for both athletic and casual use. This strategy allows On to focus on design, technology, and the overall customer experience while ensuring high-quality manufacturing standards through its partners.
Recent achievements include expanding its product line and enhancing its global distribution network. On continues to invest in research and development to push the boundaries of sports technology and design. The company's commitment to sustainability and innovation positions it as a leader in the sportswear industry.
For investors, On Holding AG (symbol: ONON) represents a dynamic opportunity in the premium performance sports brand market, continuously making strides in technology, design, and global market presence.
On Holding AG reported strong financial results for 2022, achieving net sales of CHF 1,222.1 million, a 68.7% increase year-over-year. The company reached a gross profit margin of 56.0%, and net income rose to CHF 57.7 million, marking a significant turnaround from a loss in the previous year. The fourth quarter was particularly robust, with net sales climbing 91.9% to CHF 366.8 million. Looking ahead, On anticipates 2023 net sales of at least CHF 1.7 billion, with a gross profit margin of approximately 58.5% and an adjusted EBITDA margin of 15.0%. The company is also expanding its athlete partnerships and product innovations, signaling confidence in future growth.
On, the Swiss sportswear brand, has significantly expanded its presence in professional tennis by signing world number one Iga Świątek and American rising star Ben Shelton. Świątek, a three-time Grand Slam champion, expressed excitement about collaborating with On's innovation team to enhance her gear. Shelton, who recently reached the quarterfinals of the Australian Open, is eager to represent a brand focused on performance in tennis. Both players will debut On's new professional tennis gear, including custom editions of THE ROGER Pro shoe, developed with Roger Federer and On Labs. The company aims to build a strong athlete roster, emphasizing innovation and performance.
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