- Extending its U.S. footprint, running brand On on Friday opened its newest store in the Williamsburg neighborhood of Brooklyn, according to a press release sent to Retail Dive.
- The Brooklyn flagship store encompasses 3,625 square feet of retail space on two levels, with the second floor dedicated to community experiences. Weekly run clubs will also be hosted at the store.
- The opening marks the fourth U.S. store for On and 23rd globally. Future stores are planned for Miami; Chicago; Austin, Texas; and Portland, Oregon.
On’s Williamsburg store features the brand’s athletic footwear and apparel grouped together in areas focused on running, outdoor lifestyle and movement. The store also features a Magic Wall with concealed shelves holding each size of every On sneaker.
Co-founded in 2010 by former Swiss Ironman champion Olivier Bernhard, On has experienced considerable growth the last several years and most notably in the Americas after going public in 2021 through an IPO. The company has since broadened its distribution through wholesale partners and expanded its resale program.
“As On grows, we want to be intentional about building authentic, long-lasting relationships with our communities across North America and around the world,” Britt Olsen, On’s general manager of the Americas and head of global commercial strategy, said in a statement. “Our new store in Williamsburg is an exciting milestone in our growth journey and one that gives us an opportunity to meet new and existing fans in a space welcome to all.”
In addition to Williamsburg, On has U.S. locations in Manhattan, Los Angeles and Portland. Internationally, On stores are in London, Paris, Japan and China. The brand is represented through wholesale partners in 60 countries.
For Q1 of this year On reported record net sales of 420.2 million Swiss francs (about $470 million) and a growth rate of 78% year over year globally and nearly 92% in the Americas. Net sales for shoes during the quarter were 400.5 million Swiss francs, apparel was 16.9 million Swiss francs and accessories 2.8 million Swiss francs.
Net sales for On fiscal 2022 increased 68.7% to 1.2 billion Swiss francs, while net income was 57.7 million Swiss francs for the year.
On continues to grow in a segment of the market that caters to a technically driven demographic with higher-priced options.
“I think that consumers have been willing to trade up to these higher price points because the brands that play here are giving them a reason to do so — comfort, performance, innovation and fashion,” Beth Goldstein, footwear analyst at Circana, said in an email. “In addition to performance usage, we know that there is a lot of casual, everyday use happening and this versatility adds value.”
According to Circana’s Retail Tracking Service the $150 price range for adult running shoes had the strongest growth over the previous 12-month period. Total sales for the category, both DTC and wholesale, increased by 5%.