Zurich-based running shoe company On is still on course

A running shoe company before the jump?

He aims for billions in sales and price increases

Zurich-based running shoe company On Running remains on a growth path after nine months. For a company in which tennis star Roger Federer also has a stake, the first billion in sales in the current year appears to be just a form.

Tennis player Roger Federer’s On shoes from Qatar Open 2021 at Christie’s auction house in Zurich. (archive image)

From July to September, sales rose a good 50 percent to CHF 328.0 million, the company announced on Wednesday. Exceptionally high growth in the Asia-Pacific region of more than 85 percent was responsible for the increase. However, according to them, the consistently strong demand in North America (+57%) also helped.

At 57 percent, the gross profit margin in the third quarter was slightly lower than the same period last year (60 percent) but slightly higher than the previous quarter (55 percent). The margin was weighed down by unfavorable exchange rates and the continued – albeit reduced – higher share of air freight.

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