The Swiss sporting goods provider On Holding AG is continuing its international expansion course.
On Wednesday, the sneaker specialist announced the opening of a new store in Portland, Oregon. Starting next Saturday, the company will be offering its current shoe models as well as clothing and accessories on an area of around 316 square meters.
The store, which uses the brand’s newly developed “modular” interior design concept for the first time, replaces a much smaller store that opened in the city in 2016, according to the company. The location has a special meaning for On. After all, the label’s American headquarters has been in Portland since 2013.
On course for expansion: On plans to open 15 to 20 new stores worldwide in 2024
North America is now the most important market region for the sporting goods provider, which has been listed on the New York Stock Exchange since September 2021. In the most recent financial year, 2022, revenue there rose by 80.3 percent to 738.5 million Swiss francs (775.4 million euros). On thus generated well over half of its annual sales of 1.22 billion Swiss francs in North America.
The new Portland opening comes as part of On’s strategy to strengthen its retail operations worldwide. At its Investor Day last October, the company, which currently has 32 stores of its own, presented corresponding growth plans that should help double annual sales by 2026.
Accordingly, a total of 15 to 20 new stores are to be opened in the current year 2024. The “vast majority” of these will be in China, but a new opening is also planned in Berlin.
