On chief commercial officer Britt Olsen delved into the brand’s winning formula Tuesday morning during a conversation at the FN Summit.
When 2024 comes to an end, Olsen says she hopes the story of the company for the year is as “the fastest growing premium sportswear brand in the world that does thing very authentically in a sustainable way.”
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Halfway through the year, On has pushed toward that goal by signing new partnerships with Zendaya and FKA Twigs, preparing for the opening of its second Paris store during the Summer Olympics and betting big on the expansion of its apparel.
When Olsen went to meet Zendaya and her stylist and Los Angeles, she expected to be in pitch mode. Instead, she said, Zendaya spoke for 20 minutes about “her sincere love and deep connection to On and the brand.”
After pointing to its longer relationships with Roger Federer and Loewe as well, Olsen said: “We’re not paying people to like On. If somebody doesn’t love On, if somebody’s not authentically into the brand hasn’t been following us, that’s obviously not going to work. Our guiding principles have to be aligned with our values and what we’re trying to build.”
On opened its first Parisian store in November, and the launch of its second will coincide with Olympics, where more than two dozen of the brand’s athletes are set to compete. “Paris is a hot emerging market for us,” Olsen said. “We’re seeing a lot of brand demand, a lot of buzz and a lot of desire for the brand there. We’re there for the longevity and how we can connect. And, of course, there are some big events happening this summer. We’re hoping that’s a way for us, as a global brand, to welcome visitors from all over the world to our home in Europe.”
On’s plans to grow its apparel business has been driven in part by the success of it in its Chinese stores. That will be one of the brand’s two biggest bet during the next five years, the other being scaling its own direct-to-consumer retail presence.
For the 2023 fiscal year, sales through On’s DTC channels increased by 50.9 percent. 15 stores new stores opened in China last year, 10 of them in China, and On plans to open an additional 100 across the world.
“Our strategy is really to make sure that we’re going intentionally into neighborhoods, cities or markets where we know there’s a consumer base, but also where we can connect with the customer and build the community in a really authentic way,” Olsen said. “We’re not just trying to mass scale a ton of stores.”
About the Author:
Ian Servantes is a Senior News Editor for Footwear News specializing in sneaker coverage. He’s previously reported on streetwear and sneakers at Input and Highsnobiety after beginning his career on the pop culture beat. He subscribes to the idea that “ball is life” and doesn’t fuss over his kicks getting dirty.
