Fashion
Switzerland’s On reports robust Q3 with net sales reaching $1 bn
Channel-wise, DTC revenue increased 27.6 per cent to CHF 314.7 million, while wholesale rose 23.3 per cent to CHF 479.6 million. All regions contributed, with Europe, Middle East and Africa (EMEA) up 28.6 per cent, the Americas up 10.3 per cent, and Asia-Pacific surging 94.2 per cent. Shoes grew 21.1 per cent, apparel increased 86.9 per cent, and accessories jumped 145.3 per cent.
The profitability strengthened sharply, with gross profit up 35.5 per cent to CHF 522.2 million and gross margin expanding to 65.7 per cent. Net income soared 289.8 per cent to CHF 118.9 million, lifting net margin to 15 per cent, while adjusted EBITDA rose 49.8 per cent to CHF 179.9 million, On said in a press release.
Swiss sportswear company On Holdings has posted strong Q3 and 9M results, with Q3 net sales up 24.9 per cent to CHF 794.4 million (~$1 billion) and sharp gains across DTC, wholesale, and all regions.
Profitability improved, with gross margin at 65.7 per cent and net income up nearly threefold.
For 9M 2025, sales rose 32.6 per cent, supported by strong growth in footwear, apparel, and accessories.
“Our focus on excellence continues to drive powerful global momentum, earning deep trust with consumers and strengthening the core of our business. With an outstanding product pipeline and boosted by the remarkable achievements of On’s athletes that embody our performance spirit, we carry this momentum forward with confidence and energy,” said Caspar Coppetti, co-founder and executive co-chairman of On.
“Our consistent execution continues to bring our strategy to life—winning in performance, elevating our brand, and engaging our expanding global community in credible and consistent ways. We’re strengthening our connection with customers through experiences that showcase our premium positioning – from our most elevated stores to the growing momentum of our apparel business,” said Martin Hoffmann, CEO and CFO of On.
“At the core, our focus on operational excellence and technology is making us faster, smarter, and more agile. These results give us strong confidence—both for a successful holiday season and for the long term, as we continue building the world’s most premium global sportswear brand,” added Hoffmann.
For the nine-month (9M) period, On delivered sustained top-line strength with net sales rising 32.6 per cent to CHF 2,270.2 million (~$2.86 billion), or 37.3 per cent on a constant currency basis. DTC revenue increased 39.2 per cent to CHF 899.9 million, while wholesale climbed 28.7 per cent to CHF 1,370.3 million.
EMEA grew 34.7 per cent, the Americas 19.2 per cent, and Asia-Pacific 106.6 per cent. Shoes rose 29.8 per cent to CHF 2,117.1 million, apparel increased 82.6 per cent, and accessories expanded 127.4 per cent.
The gross profit grew 37.8 per cent to CHF 1,418.3 million, with gross margin improving to 62.5 per cent. Net income, however, decreased 11.9 per cent to CHF 134.6 million, reflecting higher investments and normalised comparisons, while adjusted EBITDA rose 51.2 per cent to CHF 436 million. Cash and cash equivalents stood at CHF 961.8 million, up 4.1 per cent, and net working capital increased 13.4 per cent to CHF 565.8 million.
Looking ahead, the company has raised its full-year guidance, citing continued momentum and a strong product pipeline. It now expects net sales growth of 34 per cent on a constant currency basis, gross margin of around 62.5 per cent, and an adjusted EBITDA margin above 18 per cent.
Fibre2Fashion News Desk (SG)
Total apparel shipments fell by 2.66 per cent year on year to $425.44 million in January 2026, compared with $437.07 million in the corresponding month of 2025. The performance underscored uneven global demand conditions that continue to influence sourcing patterns and order flows for Sri Lankan manufacturers.
Sri Lanka’s apparel exports declined 2.66 per cent YoY to $425.44 million in January 2026 amid weak global demand.
Shipments to the US and EU softened, while the UK remained stable with slight growth.
Other markets saw sharper contraction.
JAFF highlighted DCTS benefits and tariff changes while suggesting diversification and efficiency to sustain competitiveness.
Exports to the United States, the country’s largest market, decreased by 2.73 per cent to $165.11 million, while shipments to the European Union excluding the United Kingdom, declined by 1.93 per cent to $126.99 million. In contrast, exports to the UK remained broadly stable, rising marginally by 0.23 per cent to $61.71 million. Apparel shipments to other markets dropped more sharply by 6.07 per cent to $71.63 million.
JAAF noted that the UK’s steady performance offers a constructive signal for the sector, particularly as the revised Developing Countries Trading Scheme (DCTS), effective January 1, 2026, is expected to enhance sourcing flexibility and strengthen Sri Lanka’s competitive position in the British market.
The industry body also highlighted the introduction of a uniform 10 per cent temporary tariff in the US market as a relatively supportive development, reducing the impact of previously higher country-specific rates and providing greater short-term pricing predictability for exporters.
Commenting on the January outcome, JAAF said the moderate decline reflects ongoing volatility in global demand. The association emphasised that the industry remains committed to reinforcing resilience through market diversification, product innovation and operational efficiency, while collaborating with stakeholders to sustain Sri Lanka’s standing as a reliable apparel sourcing destination.
Fibre2Fashion News Desk (KUL)
Profitability remained robust despite a more challenging trading backdrop. Group EBIT stood at €913.4 million, broadly stable year on year (YoY), translating into a 29.2 per cent margin versus 29.5 per cent in FY24. Net profit reached €626.7 million compared with €639.6 million a year earlier, reflecting higher net financial expenses, while maintaining a 20 per cent margin.
Moncler has reported revenues of €3.13 billion (~$3.69 billion) in FY25, up 3 per cent at constant exchange rates, with net profit of €626.7 million (~$739.5 million).
Asia led regional growth, while DTC channels strengthened across brands.
Q4 revenues rose 7 per cent, driven by robust Moncler and Stone Island performance, as the group prepares for continued investment and leadership transition.
Regionally, the group recorded strong momentum in Asia, where revenues rose 7 per cent at constant exchange rates to €1.42 billion, supported by demand in China and Korea and a recovery in tourist flows. The Americas increased 5 per cent to €391.1 million, whereas Europe, Middle East and Africa (EMEA) declined 3 per cent amid subdued tourism-related traffic, Moncler said in a press release.
Channel performance highlighted the continued shift towards direct engagement. Moncler’s direct-to-consumer (DTC) revenues rose 4 per cent to €2.36 billion, accounting for nearly 87 per cent of brand sales, while wholesale declined 4 per cent as the group continued to enhance distribution quality. Stone Island’s DTC channel expanded 11 per cent to €226.4 million, whereas wholesale decreased 4 per cent.
The group’s financial position strengthened further, with net cash reaching €1.46 billion at year-end after dividend payments of €353.2 million. The board proposed a dividend of €1.4 per share and approved the consolidated sustainability statement.
Remo Ruffini, chairman and CEO of Moncler, said: “Moncler and its board of directors wish to express their most sincere thanks to Gabriele Galateri di Genola for his dedication and the highly valuable contribution he has made throughout his more than ten-year term of office. His significant experience, the vision developed over many years in senior leadership positions at leading industrial and financial organisations, as well as his constant commitment to good governance, have represented a key point of reference for our work. With gratitude, we extend our best wishes to Gabriele Galateri di Genola for the future.”
In the fourth quarter (Q4), the group delivered accelerated momentum, with revenues rising 7 per cent at constant exchange rates to €1.29 billion (~$1.52 billion). Moncler brand revenues reached €1.17 billion, up 6 per cent, while Stone Island posted €123.1 million, surging 16 per cent with double-digit growth across all regions.
Moncler’s DTC channel advanced 7 per cent despite a demanding comparable base in the quarter, supported by Asia and the Americas, while wholesale returned to growth, rising 2 per cent. Stone Island recorded broad-based acceleration, with DTC revenues increasing 16 per cent and wholesale climbing 17 per cent, partly reflecting delivery timing shifts from the previous quarter.
Looking ahead, the group emphasised continued investment in brand development and organisational strengthening, including the appointment of Leo Rongone as group chief executive officer from April 2026, as it seeks to sustain long-term growth and value creation.
Fibre2Fashion News Desk (SG)
OpenAI Fires an Employee for Prediction Market Insider Trading
India, EU Commit To Provide Most-Favoured Nation Treatment For 5 Yrs, Shows Provisional FTA Text
Fino Payments Bank MD Rishi Gupta Arrested; CFO Ketan Merchant Named Interim Head
A $10K Bounty Awaits Anyone Who Can Hack Ring Cameras to Stop Sharing Data With Amazon
US Top Court Blocks Trump’s Tariff Orders: Does It Mean Zero Duties For Indian Goods?
Donald Trump Jr.’s Private DC Club Has Mysterious Ties to an Ex-Cop With a Controversial Past
-
Tech1 week agoA $10K Bounty Awaits Anyone Who Can Hack Ring Cameras to Stop Sharing Data With Amazon
-
Business1 week ago
US Top Court Blocks Trump’s Tariff Orders: Does It Mean Zero Duties For Indian Goods?
-
Tech1 week agoDonald Trump Jr.’s Private DC Club Has Mysterious Ties to an Ex-Cop With a Controversial Past
-
Fashion1 week agoICE cotton ticks higher on crude oil rally
-
Fashion1 week agoIndia’s $28 bn reset: How 5 trade deals will reprice its T&A exports
-
Entertainment1 week agoThe White Lotus” creator Mike White reflects on his time on “Survivor
-
Business6 days agoEye-popping rise in one year: Betting on just gold and silver for long-term wealth creation? Think again! – The Times of India
-
Sports1 week agoBrett Favre blasts NFL for no longer appealing to ‘true’ fans: ‘There’s been a slight shift’