Swiss sportswear brand On has posted a “record” third quarter with sales growth exceeding expectations.

The company’s net sales jumped 32.3 per cent to CHF635.8 million ($720.5 million) for the three months ended September 30, driven by a 49.8 per cent increase in direct-to-consumer sales.

The Apac region saw the biggest improvement with a 79.3 per cent sales increase during the period. Sales in  Europe, Middle East and Africa (EMEA) and the Americas rose 15.1 per cent and 34.1 per cent, respectively.

Gross profit increased 34 per cent to CHF385.3 million, but net income decreased 48 per cent to CHF30.5 million.

“This quarter’s record results are a testament to the incredible momentum we have built,” said Caspar Coppetti, co-founder and executive co-chairman of On.

“From increasing our brand awareness amongst our core communities worldwide, to pushing the boundaries of performance credibility and deepening our sustainability impact, to expanding our premium footprint across all channels, we are turning our dream into a reality,” Coppetti added.

For the first nine months, On’s net sales increased 27.3 per cent, with DTC sales up 39 per cent, and net income rose 43.6 per cent.

The company has raised its full-year outlook, expecting net sales growth of at least 32 per cent.

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