On clears $1B quarterly sales as new co-CEOs bet on full-look apparel
Swiss sportswear brand On posted Q1 2026 revenue of CHF 831.9M ($1.02B), up 14.5% (26.4% constant currency), with net income surging 82% to CHF 103.3M. Gross margin expanded to 64.2% from 59.9% as incoming co-CEOs pivot beyond footwear into head-to-toe dressing.
Swiss sportswear brand On crossed $1B in quarterly sales for the first time, with revenue up 14.5% to CHF 831.9M and net income up 82%. New co-CEOs are pushing apparel and full-look dressing as Hoffmann steps down.
Why this matters
On's first $1B quarter signals a maturation from running-shoe specialist to broader sportswear player, with co-CEO transition framing apparel as the next growth lever beyond its footwear core.
Retail-brand signals steady at 109 over the last 90 days, with On now joining the billion-dollar quarterly club.