Swiss Brand On Plans $1 Billion Buyback Through 2029, Sets Long-Term Targets
The Swiss sportswear company also set a 22% adjusted EBITDA margin target and said it will expand into football and golf.
- On Tuesday, On Holding unveiled its first-ever $1 billion share repurchase program and set a 2029 sales target of at least 5.6 billion Swiss francs during its Investor Day in Zurich.
- Co-CEO Caspar Coppetti detailed the "Premium Playbook" strategy, designed to drive growth in sneakers and apparel while maintaining industry-leading gross margins and high average selling prices among peers.
- Bolstered by a partnership with French soccer star Kylian Mbappe signed last week, On Holding is pushing into football and golf to expand beyond its core running business.
- Shares of On Holding surged 8% following the announcements on Tuesday, significantly outpacing muted reactions from Nike, Adidas, and Puma in the same trading session.
- Analysts note the targets raise the bar for quarterly execution over coming years as On Holding navigates slowing growth in the Americas amid macro headwinds.
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On Targets CHF 5.6B by 2029, Unveils Football, Golf and $1B Buyback Plan
ON (NYSE:ONON) outlined a three-year growth plan centered on premium pricing, product innovation, retail expansion and new sports categories, targeting at least CHF 5.6 billion in net sales and an adjusted EBITDA margin of 22% or higher by 2029. At its Investor Day in Zurich, the Swiss sportswear c
The Schumaker wants to buy back up to 2029 shares for a billion dollars. The stock market price is positive.
On Holding Surges 13% as Investor Day Sets Ambitious Sales Target and $1B Buyback; Nike Ticks Up 2%
On Holding just did something it has never done before, and the stock is repricing fast. Whether today's surge marks a turning point or a trap depends on what management actually promised investors in Zurich.
On approved its first stock buyback program this Tuesday, worth up to $1 billion, with effect until the end of 2029, and revealed its long-term financial goals, betting on the expansion of the categories of clothing, sports tennis and new high performance modes. Supported by former Swiss tennis player Roger Federer, the shoe manufacturer has been expanding its global reach. Last week, the company signed a sponsorship contract with the French foo…
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