• by Sarah Mahoney  @mahoney_sarah, November 13, 2024

On Holding keeps gathering speed in the athletic shoe space, with the Swiss company’s latest sales and profits breaking new records. Company executives credit marketing campaigns starring actor Zendaya and singer FKA Twigs for engaging younger lifestyle fans, and efforts with brand ambassador Roger Federer for revving up performance audiences.

Net sales rose 32% to $717.9 million in the third quarter, with sales in the company’s direct-to-consumer channel soaring 50%. The company attributes the growth to rapidly expanding brand awareness, thanks to its presence at the Paris Olympics, the ongoing marketing campaign starring Zendaya, and the popularity of the On tennis line, created with Swiss tennis legend Roger Federer. On is also continuing to expand into Asia.

On has also gotten plenty of buzz from media coverage of LightSpray, the new spray-on shoe technology innovating the highest-end elite running shoes.

Brand partner Hellen Obiri, an Olympic medalist, wore the shoes when she came in second at the recent New York City Marathon. The company set up pop-up shops in New York before the race to showcase the breakthrough technology.

“With our continued relentless focus on performance, innovation and authentic partnerships, we are excited to inspire the world to move with even greater purpose," said Caspar Coppetti, the company’s co-founder and executive co-chairman of On, in the announcement.

The strong performance led the company to pump up its full-year focus, and now predicts a 32% gain in full-year sales.

“Our authentic long-term partnerships like the ones with Zendaya or FKA Twigs are reaching younger demographics, bringing in a new group of fans who are connecting to On through movement in a broader sense,” Coppetti told investors in a conference call to webcast the earnings. “In the U.S., awareness of the On brand has doubled since last year, now reaching close to 20%. In the city of Paris, the home of the Olympics, our aided brand awareness almost tripled year-over-year.”

On isn’t the only brand on fire in the athletic shoe space, though, as smaller companies continue to outpace giants Nike and Adidas.

Brooks Running is also having a banner year and recently announced that it topped $1 billion in sales in the first nine months of the year – the first time the company has ever reached that milestone before the fourth quarter. And Brooks held on to its No. 1 position in the U.S. adult performance running shoe category for the 11^th consecutive quarter.

Hoka, owned by Deckers Brands, reported a 34.7% jump in the third quarter, to $570.9 million.