• Loading stock data...
Sunday, May 19, 2024

On Expects Huge Year With Boost from Tennis Stars

  • The Roger Federer-backed On expects a nearly 40% increase in sales this year.
  • The brand signed tennis stars Iga Świątek and Ben Shelton.
Roger Federer in the On design lab with his signature tennis shoe.
On

Even in retirement, Roger Federer can still take over a game.

The stock price of On, the shoe and apparel brand backed by the tennis legend, surged after the company issued a prediction that its sales would grow nearly 40% this year. The company reported $397.6 million in revenue in the fourth quarter, up 91.9% year-over-year.

On expects the good news to continue with 61% year-over-year sales growth in Q1 2023.

On Holdings rocketed up 34% from last week, including a 29.5% leap on Tuesday – the company’s largest one-day increase since hitting the U.S. public market in September 2021.

On also added more tennis star power, signing top women’s player Iga Świątek and 39th-ranked men’s player Ben Shelton to endorsement deals. 

Two WTA players celebrate their doubles win with a high-five.

CVC Capital Invests $150M in Women’s Tennis Association

CVC Capital has more than $145 billion in assets under management.
March 7, 2023

The company billed the signings as a major push into tennis — a natural fit given its most prominent backer.

“The expansion of our professional tennis roster builds on our continued innovation in the fields of high-performance running and a growing ensemble of world-class track and long-distance athletes,” said On Co-CEO Marc Maurer.

In addition to the expected growth in tennis sneaker sales, On’s optimism for a big year is fueled by plans to cut expenses by reducing its use of air freight. 

On is also looking to grow in Latin America, Japan, and China.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Sponsored

Major League Rugby’s Vision for American Rugby

How Major League Rugby is leading the Rugby renaissance in the U.S.

Candace Parker Joins Shaq, Iverson in Court-to-Sneaker Boardroom Pipeline

Parker was named president of Adidas women’s basketball Wednesday.

ESPN Narrowly Avoids Disaster on Hurricanes-Rangers Broadcast

The network briefly switched playoff games in crunch time of Canes-Rangers.

The 25 Highest-Paid Male Tennis Players

24-time major champion Novak Djokovic is the highest-paid male tennis player.
podcast thumbnail mobile
Front Office Sports Today

MLB, NBA, NHL Broadcasting Future Goes to Court

0:00

Featured Today

Michael Block signs autographs on the 18th hole during day three of practice for the PGA Championship at Valhalla Golf Club on Wednesday, May 15, 2024.

‘I Prefer It This Way’: How Life Works for PGA Club Pros

Here’s how life works for the qualifiers at golf’s second major.
February 5, 2019; Washington, DC, USA; The grounds of the Capitol Building empty out following the conclusion of President Donald Trump's State of the Union speech on February 5, 2019.
May 18, 2024

‘A Breathtaking Lobbying Campaign’: The NCAA’s Sophisticated Effort to Save Amateurism

Inside the carefully coordinated, multimillion-dollar operation to end the athletes’ rights era.
May 14, 2024

The WNBA Was Forged in Houston. Why Won’t It Go Back There?

Houston’s a perfect fit for expansion. The league isn’t considering it yet.
May 9, 2024; Indianapolis, IN, USA; Indiana Fever guard Caitlin Clark (22) stands with the team during the national anthem on Thursday, May 9, 2024, during the preseason game against the Atlanta Dream at Gainbridge Fieldhouse in Indianapolis.
May 12, 2024

‘Perfect Storm’: The Rise of Local WNBA Broadcast Pacts

With national attention reaching new heights, regional coverage could dictate the future.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Live Nation
Multiple - USA Careers
Adidas
Multiple - USA Careers
FanDuel
Multiple - USA Careers

Silver Lake to Take Endeavor Private, Ending Tough Stock Market Run

Private equity giant Silver Lake is set to acquire the remaining shares it didn’t already own.
Exterior of Nike Company Store
February 16, 2024

Nike to Lay Off 2% of Its Workforce in Cost-Savings Effort

The sportswear giant hinted at staff cuts in a December earnings call.
DraftKings
February 16, 2024

DraftKings Trends Toward the Black, Buys Lottery App

The sports gambling giant continues to narrow its losses.
Sponsored

Major League Rugby’s Vision for American Rugby

How Major League Rugby is leading the Rugby renaissance in the U.S.
February 7, 2024

ESPN DTC to Debut by Fall 2025, but Streaming Alliance Hastens Market Entry

Date set for stand-alone version of network, but new joint venture will beat that by a year.
January 22, 2024

They Make Sports Balls—and They Could Be Worth Almost $9 Billion

Amer Sports looks to raise as much as $1.8 billion in the public markets.
A view of a FanDuel sportsbook location.
January 18, 2024

FanDuel Strengthens U.S. Dominance Ahead of NYSE Debut

Flutter posts strong financial results as NYSE shares are set to debut Jan. 29.
The swoosh logo at Nike Eugene.
September 28, 2023

Nike Misses Revenue Wall Street’s Projections, But Company’s Stock Soar

The company offset the shortfall by exceeding expectations in earnings per share.