Sportswear Brand On Targets $7 Billion in Sales by 2029

Sportswear brand On Holding is banking on aggressive category diversification and high-profile athlete partnerships to fuel its next era of expansion, unveiling a target of at least CHF 5.6 billion (nearly $7 billion) in net sales by 2029 during its long-awaited Investor Day.

The Swiss running-shoe innovator outlined a strategy to sustain a “high-teens” annual compound growth rate over the next several years, backed by its first-ever $1 billion share repurchase authorization. To maintain its momentum and premium pricing model—which has seen its average product price climb significantly since 2023—On is pushing aggressively beyond its core running and apparel lines into new domains. The expansion includes high-stakes entries into golf and global football, heavily amplified by its recent blockbuster signing of Real Madrid star Kylian Mbappé as a global partner alongside football legend Thierry Henry. Wall Street responded enthusiastically to the roadmap, sending shares surging over 12% as investors welcomed the brand’s clear trajectory toward profitability and broader market dominance.