Following an investment by tennis icon Roger Federer in 2019 and an IPO in 2021 that raised $740 million, On is steadily adding to its roster of professional athletes.
Signing a player of such magnitude as Świątek represents a coup for On as the Polish-born player seemingly was entrenched with her endorsement of the Asics brand. As recently as April of last year Świątek was lauding her relationship with the brand. That changed with the On signing.
“In order for On to build its awareness and credibility in tennis, it’s important for players to be showcasing the brand, and I think these specific signings are smart – both are young, exciting players, representing both the women’s and the men’s tours, and Europe and the U.S. These partnerships are a great complement to their already existing relationship with Roger Federer,” Beth Goldstein, footwear industry analyst at Circana, said in an email.
In addition to Świątek and Shelton, On signed 16-year old Brazilian junior player João Fonseca, who is ranked No. 9 in the International Tennis Federation Junior Rankings. On also recently signed separate deals with three champion triathletes who will wear On shoes and apparel for upcoming competitions.
On has also been expanding its wholesale presence. The brand announced a partnership in 2022 with Dick’s Sporting Goods and Dick’s Public Lands banner, and also has deals with REI, Foot Locker and Nordstrom. In its 2022 year-end earnings released Tuesday, On reported full-year net wholesale revenue increased 73.1% year over year to 777 million Swiss francs ($848.6 million at the time of publication), while DTC sales grew 61.4% to 445.1 million Swiss francs.
The brand’s total revenue for the year topped 1.2 billion Swiss francs, a 68.7% year-over-year increase and the first time the brand has exceeded 1 billion Swiss francs.
Following is a summary of current sports news briefs. Tennis: Creaking Djokovic adjusting to new reality at French Open Novak Djokovic was p
PARIS (Reuters) – Stefanos Tsitsipas said he is getting back to his best by easing the burden on his shoulders and playing without any expectations as he
Peruvian Juan Pablo Varillas has already spent almost 12 hours on court at Roland-Garros, despite only playing three matches so fa
The news of Rafael Nadal undergoing surgery to address his long-standing hip injury has caught the attention of tennis fans. At the Australian Open earlier th