On Holding AG, a shoe company backed by former tennis giant Roger Federer, has penned its sixth consecutive record quarter, as demand for high-end goods remains stubborn.
Sales climbed to 444.3 million Swiss Franc in the second quarter, marking a 52.3% jump on last year’s figure, with direct-to-consumer transactions outdoing wholesales.
The firm penned a positive net income for the quarter of 3.3 million Swiss Francs meanwhile, as adjusted pre-tax earnings almost doubled to 62.7 million Swiss Francs.
“The very strong first six months of the year and now six consecutive record quarters is a testament,” co-chief executive Martin Hoffmann said.
Roger Federer is estimated to hold a 3% stake in the company, having invested following an endorsement agreement signed in the wake of his split with Nike in 2018.
Federer’s partnership with On kicked off the brands’ tennis offerings, with number one ranked Iga Świątek currently among the company’s ambassadors.
“We are so proud to have kicked off On’s presence on the grand slam courts with such an incredible and emotional debut,” Hoffmann added, following Świątek’s victory at the French Open in June.