Swiss footwear brand On surpasses three billion francs in annual sales amid strong global expansion

Zurich-based shoe manufacturer On reports record annual sales of CHF 3.01 billion, driven by massive growth in Asia and a strong premium retail strategy.

By: AXL Media

Published: Mar 3, 2026, 3:21 PM EST

Source: The information in this article was sourced from Keystone-SDA

Record Revenue and Currency Impacts

The Zurich-based shoe and apparel manufacturer On announced on Tuesday that it has crossed the milestone of CHF 3 billion in annual sales. During its 15th anniversary year, the company saw total revenue rise by 30% to reach CHF 3.01 billion, approximately $3.81 billion. Growth was even more pronounced at constant exchange rates, hitting 36%, as the strength of the Swiss franc weighed on the final reported figures. This performance underscores the brand's rapid trajectory from a Swiss startup to a major international player in the performance sportswear industry.

Regional Performance and Market Drivers

Expansion into the Asia-Pacific region served as a primary engine for growth, with sales in that territory nearly doubling to reach CHF 511 million. However, the Americas remain the company's largest market, generating CHF 1.74 billion in revenue, which represents an 18% increase over the previous year. In the Europe, Middle East, and Africa region, On recorded sales of CHF 763 million, reflecting a steady 32% rise. The brand, which is listed on the New York Stock Exchange, continues to leverage high demand in major global markets to sustain its double-digit growth rates.

Diversification of Product Segments

While footwear remains the core of the business, accounting for CHF 2.8 billion of total sales, On is seeing rapid acceleration in its secondary categories. The clothing and accessories segments grew by 68% and 124% respectively, though they currently represent a small fraction of the overall business at CHF 170 million and CHF 40 million. This diversification suggests the company is successfully transitioning from a specialized running shoe brand into a comprehensive sports and lifestyle label, attracting a broader consumer base beyond professional athletes.