(Yicai) Aug. 12 — Swiss sportswear brand On Holding has said strong sales growth in China has bolstered its faith in the potential of large format stores.<\/p>\n
The Chinese market \u201cexceeded our expectations in every channel with a great contribution from our stores and particular strength on Tmall despite our choosing not to participate in promotional activity,\u201d Chief Financial Officer Frank Sluis said on the Zurich-based company\u2019s second-quarter earnings conference call yesterday.<\/p>\n
On opened its first store in Macau during the quarter, \u201cwhich is already matching the strong momentum of our remarkable Hong Kong locations,\u201d Sluis said. \u201cWith the widest assortment in the region, the store achieved above-average conversion, reinforcing our conviction in the potential of larger format stores across the region.\u201d<\/p>\n
Global net sales rose 14 percent to CHF850.3 million (USD1.05 billion) in the three months ended June 30 from a year earlier, the firm\u2019s quarterly earnings report showed. The growth was led by the extraordinary strength of the direct-to-consumer channel, the company said, with a 26 percent rise in sales. The DTC channel exceeded expectations in every region, it added.<\/p>\n
On also promoted Rebecca Kei to chief global markets officer, following her strong performance in the Asia-Pacific markets. The region again delivered more than 20 percent of On\u2019s global net sales, powered by strong momentum in China, Japan, and South Korea.<\/p>\n
Editor: Tom Litting<\/p>\n","protected":false},"excerpt":{"rendered":"(Yicai) Aug. 12 — Swiss sportswear brand On Holding has said strong sales growth in China has bolstered…\n","protected":false},"author":2,"featured_media":114542,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[4],"tags":[2434,41,17],"class_list":["post-114541","post","type-post","status-publish","format-standard","has-post-thumbnail","category-switzerland","tag-on","tag-swiss","tag-switzerland"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ch\/117082848644358508","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/114541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/comments?post=114541"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/114541\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media\/114542"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media?parent=114541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/categories?post=114541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/tags?post=114541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}