Massive $2,000,000,000 Forecast Shows Billionaire Roger Federer’s Success in Relentlessly Pursuing Untested Waters Through His Sneaker Company

Published 05/23/2023, 8:51 AM EDT

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These are great times for the Swiss sportswear brand On-Running. The brand’s parent company, On Holding, recently released the results of its first-quarter sales in 2023. They were nothing short of staggering. The company expects to generate nearly $2 billion in sales. Compared to On, American sportswear giant Nike’s growth trajectory is expected to be far more limited. The latest revelation from On Holding should put a big smile on the face of Swiss tennis legend Roger Federer. After all, in 2019, Federer signed a lucrative deal with On-Running, which not only made him its global face but also an investor.

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If things continue in a similar vein for On-Running in the months ahead, Federer’s smile is sure to get even bigger. In an official statement, On Holding’s co-CEO painted a positive picture for the company worldwide.

On-Running’s skyrocketing sales figures are proof that Roger Federer’s investment was a successful one

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During the first quarter of 2023, On Holding sold products worth a whopping $471 million. In the same period last year, the revenue generated by the company was a staggering 78% less. The company also registered phenomenal growth in its net income, which soared to $49.7 million.

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Co-CEO Martin Hoffman said, “Our record net sales in Q1 are a further proof of the strong brand momentum across all regions, channels, and product groups”. According to Hoffman, the company’s profit margins have skyrocketed owing to supply chain normalization.

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Billionaire Roger Federer Leaves No Stone Unturned to Give Tennis a New Edge as He Vehemently Promotes Extremely Popular Sneaker Brand

The full-year results announced by the company in 2022 estimated sales to generate over $1.8 billion in 2023. However, judging by the latest estimates of $1.95 billion, it’s fair to say that the company has high hopes.

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Roger Federer, a key reason behind On Running’s success

Swiss brand On Running wasn’t among the giants of sportswear in 2019. However, when Roger Federer penned a deal with them to become an ambassador and an investor, everything changed. Federer personally contributed to the brand’s development and production of sports shoes. As a result, the brand’s popularity skyrocketed.

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The Swiss brand made two incredibly smart moves earlier this year as well. It bagged the signatures of American Ben Shelton and Polish Iga Swiatek, who is currently World No. 1 in the WTA Tour rankings.

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Watch This Story: Serena Williams Stays in Direct Contention with Billionaire Roger Federer as She Gets Personal About Long Time Sponsor

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Written by:

Sudipto Pati

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Sudipto is a Tennis writer at EssentiallySports. He completed his graduation in Journalism and Mass Communication in 2012. His passion for writing became a full-time profession in 2019 after working as a musician and travelling educator.
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Edited by:

Arijit Saha

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