2024 will go down as a year to remember for On. According to the company’s own Q3 earnings report released in late November, the red-hot Swiss brand was on pace to reach $2.6 billion in sales in 2024, equating to 32% year-over-year growth on a currency-adjusted basis.
This bullish revenue outlook won’t shock anyone paying close attention to the brand’s moves throughout the year.
Over the summer, the company announced it had signed rising superstar Zendaya to a multi-year partnership as a brand ambassador. Shortly after, it launched an innovative new super shoe built around a revolutionary spray-on upper made by robots.
But a move made much earlier in the year arguably gave the brand its biggest reputational boost in 2025, at least among coveted youthful demographic segments not locked into running.
In May of 2024, On launched a collaborative fashion collection with the Spanish fashion label Loewe. It consisted of a small sampling of outerwear pieces costing well over $1,000 and a $550 version of the Cloudtilt shoe that usually retails for $160. While expensive athleisure clothes are still available, the shoes blew up the internet. And for once, that’s not just a hyperbolic cliche.
