On opens store in Riyadh

(CONNECT) The Zurich-based sportswear manufacturer On has opened its first store in the Gulf region at the Kingdom Center in Riyadh in Saudi Arabia, according to a statement. The On range, which includes running, tennis, lifestyle, and other outdoor products, will be on display to customers in a 314-square-meter space.

Nine more stores are planned in the Gulf region over the next two years, according to the statement. This regional development is part of a broader expansion in emerging markets, which also includes new branches in Bangkok and Seoul.

In addition to new stores, the Swiss company's growth is also reflected in its financial results. In the nine-month period to 30 September 2025, net sales increased by 32.6 per cent to 2.2 billion Swiss francs compared to the previous year, and gross profit grew by 37.8 per cent to 1.4 billion Swiss francs.

With sales of 2.1 billion Swiss francs, representing an increase of 29.8 per cent, running shoes account for the largest part of the brand's growth. However, clothing (124.9 million Swiss francs, an increase of 82.6 per cent) and accessories (28.2 million Swiss francs, an increase of 127.4 per cent) are also major growth drivers.

Supported by On athlete achievements, cultural moments, and increasing global awareness, according to the statement, On forecasts net sales of just under 3 billion Swiss francs (an increase of 34 per cent), a gross profit margin of 62.5 per cent, and an adjusted EBITDA margin of 18 per cent for the full year 2025.

On has been developing shoes, clothing, and accessories for performance running, outdoor activities, tennis, and everyday wear since 2010. ce/ja