On Find Strong Momentum in 2024 Financial Results
Via @on
Swiss running brand have announced their fourth quarter and full-year results for 2024, with the final figures revealing exceptional growth. Between 2023 and 2024, On's net sales grew by 29.4 per cent, with their profit also experiencing similar growth at 31.7 per cent. This brings their total annual revenue to 2.3 billion Swiss Francs ($2.6 billion USD). Most notably, their net income increased by a whopping 204.5 per cent between the two financial years, growing from CHF 79.6 million in 2023 to CHF 242.3 million in 2024.
On have largely put this down to the success of the and Cloudsurfer models, as sales from shoes grew by 33.6 per cent over the fourth quarter to hit 568.8 million Swiss Francs in 2024 – equating to around $639.9 million USD. Footwear sales for the full year increased by 28.5 per cent year on year. In addition to these strong sales, On had a number of milestone moments in 2024, as they unveiled their groundbreaking technology – which saw Hellen Obiri win the Boston Marathon in the – and the brand also opened 50 new stores. Key ambassador moments came as they snapped up and continued their partnerships with Loewe and .
Speaking on the results, David Allemann, co-founder and executive co-chairman of On, said: 'As we celebrate our 15th anniversary and step into our next chapter, we recognize 2024 as a particularly defining moment in On's history - a year that has not only elevated our presence on the global stage but also captured the hearts of multiple generations. Our partnerships with icons like , Zendaya, and FKA twigs have propelled On to become a beloved brand, igniting a passion for On that transcends borders and cultures. Our strong performance demonstrates the power of the dreams we've dared to dream and the unwavering spirit of our community. Looking ahead, we are filled with a sense of purpose. By continuing to champion innovation, strengthen our core franchises, and foster meaningful connections through life-defining moments, we are confident that On is built to sustain enduring brand love for decades to come - inspiring a movement that celebrates the human spirit.'
The financial report also indicates a strong start to 2025 for the brand, as they expect general demand, an exciting innovation pipeline and strengthened operational factors to carry the momentum into the rest of the year. On are currently predicting a net sales growth rate of 27 per cent for the full 2025 year, with the gross profit margin to come in at around 60.5 per cent for the coming year.
With marathon season underway, stay tuned to see what else On have planned for 2025.