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.

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

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.

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.

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.

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.

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