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On Holding grew net sales 13.5% to CHF 850.3 million in the second quarter of 2026, led by direct-to-consumer sales up 26% that reached a new second-quarter high of 45.7% of revenue.

Swiss sportswear brand On entered football by signing Kylian Mbappé, sponsored by Nike since childhood, and named Thierry Henry its Director of Football; Mbappé will help develop On's first boots using its LightSpray robotic upper technology.

At its Investor Day at On Labs in Zurich, On targeted high-teens constant-currency sales growth to at least CHF 5.6 billion in 2029 and an adjusted EBITDA margin of 22%+, and authorised its first share buyback, up to $1 billion through 2029.

On Holding is expected to report third-quarter 2026 results around 11 November, having guided at its Investor Day to about 17% constant-currency sales growth for the quarter plus up to $65 million of US tariff refunds.