On Running puts on his running shoes. The Swiss company closed the first quarter with a turnover of 235.6 million Swiss francs (224 million euros), an increase of 67.9% year-on-year. Besides, the Swiss firm left behind losses of 10.4 million Swiss francs (9.8 million euros) of the first three months of 2021 and went on to earn 14.5 million Swiss francs (13.6 million euros).
The company attributes this improvement in its figures to the launch of new products on the market, which “have been very well received by the public,” according to Martin Hoffman, co-CEO of the company. On the other hand, the Swiss firm points out that both the direct to consumer as sales through wholesalers showed a great evolution during the first quarter of 2022.
Within its growth strategy, during the second half of the year, On Running will start operating in six new Latin American countries: Argentina, Chile, Bolivia, Colombia, Peru and Uruguay.
Forecasts and challenges
Despite the fact that the company specializing in running shoes highlights the difficult situation that countries like China are experiencing as a result of the pandemic, and also the logistics and supply crisis that is being experienced worldwide, the good results of the first quarter they have made improve your forecasts for 2022. Thus, On Running expects to close the year with an increase in sales of at least 44%, reaching revenues of 1,040 million Swiss francs (990 million euros).
“We continue to see strong demand for the On Running brand globally,” remarked Hoffman, who also acknowledges that the company works “in an uncertain environment” in terms of the supply chain, “and mitigating the impacts of factory closures last year.
The Swiss company, owned by the tennis player Roger Federer, closed the 2021 financial year with a turnover of 724.5 million Swiss francs (702 million euros), 70% more YoY Despite this, the company failed to leave the red numbers behind and multiplied its losses by five in 2021, to 170.2 million Swiss francs (164.9 million euros).