Running retailer On is aiming for double net sales between 2023 and 2026 as it looks to accelerate growth.
This would represent compound annual growth rate of over 26% to at least £3.19bn.
The footwear company also expects to exceed 60% gross profit margin by 2026 and reach an apparel share of 10% or more.
The bullish forecast comes two years after the Switzerland-based company, which opened its first UK flagship at the start of the year, went public.
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The business will be first prioritising elevating its market share in running along with its brand awareness, performance credibility and sustainability impact.
At the same time, On will work to expand its international footprint by increasing its “premium multichannel distribution” and its own retail presence, as well as its footprint in China.
Co-chief executive Marc Maurer said: “We are extremely proud and pleased with how we have been able to successfully deliver on our mission and growth strategies over the past two years,”
“The strength of our brand and products, our outstanding team and innovation capabilities, as well as the very large addressable market, give us numerous opportunities to grow. We are staying true to our core, with controlled expansion into adjacencies, to continue on our path towards the vision to be the most premium global sportswear brand.”
The company is also aiming to expand into tennis and other sports while beefing up its offering of “full head-to-toe looks across all its verticals”.
Co-chief executive and chief financial officer Martin Hoffman said: “We have an exciting product pipeline that includes running, training and tennis footwear and apparel. Additionally, we believe there are huge opportunities to increase brand awareness and to expand through our multichannel approach. We are enthusiastic about our continued growth.”
“The 2026 targets announced today continue to be above the long-term ambitions shared at the time of the IPO, and we view them as an intermediate step in our ambition to build a much bigger company in the future.”
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