The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
In just over a decade since its founding in 2010, On has become one of the world’s most recognisable footwear brands. The Swiss company has done so by employing an early focus on wholesale relationships with specialty running stores over DTC. That strategy that ultimately helped the brand attract both luxury and streetwear consumers, partnerships with brands like Loewe and Kith and wholesale agreements with Nordstrom and many others.
“For us it was very clear that we are not going to be a sneakers [top seller], we are going to be a running shoe,” said On co-founder David Allemann. “If you break into the running shoe category then… that’s a very stable growth opportunity for the future.”
On the latest edition of BoF LIVE, BoF’s Daniel-Yaw Miller and Cathaleen Chen are joined by Allemann and Cristina Fernandez, managing director and senior equity research analyst of Telsey Advisory Group, to unpack what’s driving the footwear brand to new heights and what’s next.
The company, which has come under fire for allegedly ripping off emerging designers’ work, has partnered with thousands of creatives through its SheinX programme. BoF spoke with participants about what it’s really like to work with the fast-fashion giant.
The brand’s quirky running sneakers are no longer a novelty as rivals like Nike, Adidas and On launch similar styles. Yet sales continue to soar as consumers embrace its winning formula of comfort, versatility and unconventional looks.
As digital advertising costs climb, fashion brands are embracing events like in-store happy hours, trunk shows and parties in various formats to generate brand awareness and drive sales.
The activewear brand’s revenue rose 24 percent year-over-year to $2 billion, reflecting growth driven by China, a successful loyalty programme and new categories