The running shoe company On plans to hire more than 300 new employees in Switzerland this year. Major expansions are also planned abroad.
the essentials in brief
- On wants to hire up to 900 new employees, 40% of them in Switzerland.
- The company recently had to raise prices.
- Nevertheless, it wants to expand in the areas of trail running and mountaineering.
According to its bosses, the Swiss running shoe manufacturer On wants to expand massively and hire 800 to 900 new employees worldwide in the current year, around 40 percent of them in Switzerland. This should almost double the number of employees.
There are also new shops in London and Tokyo, as the two company bosses Marc Maurer and Martin Hoffmann explained in an interview with “Switzerland at the weekend”. In Zurich, they will move into a new headquarters with space for 1,000 employees. In addition, new offices in the USA, specifically in Portland, in Berlin and Shanghai, would also be established.
According to the information, clothes and accessories are important growth drivers. Those responsible for the company, which was founded in 2010, see potential in the areas of trail running and mountaineering.
The company of co-investor and tennis star Roger Federer makes 95 percent of its sales outside of Switzerland and 50 percent in the USA. On expects net sales of CHF 710 million for the 2021 financial year.
The company has recently faced major challenges. Since the IPO last September, the share price has fallen sharply and there have been price increases in the range.
Reasons are price increases for sea and air freight as well as for wages and materials. On is raising prices for various new models in the US. In Switzerland and the EU, on the other hand, prices should not increase in the coming months.
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