Swiss sportswear brand On has posted record sales for the first quarter thanks to its multichannel strategy.

The company’s net sales for the quarter ended March 31 soared 43 per cent to CHF 726.6 million ($866.2 million), with direct-to-consumer sales up 45 per cent and wholesale sales up 41 per cent.

By region, sales surged 32.7 per cent in the Americas, 33.6 per cent in EMEA and 130 per cent in Apac. 

Management said the better-than-expected results were driven by the company’s successful multichannel strategy and built on the strong momentum from last year.

On the bottom line, gross profit increased by 43.5 per cent to CHF 435.3 million, but net income decreased 38 per cent to CHF 56.7 million.

Based on the ongoing brand strength, the brand has raised its full-year outlook and expects net sales to increase at least 28 per cent. 

“We are confident that our commitment to bold innovation, operational excellence, and elevated consumer experiences will drive market share gains and further cement On’s global premium position, allowing us to navigate the higher levels of planning uncertainty in today’s market environment,” said co-CEO and CFO Martin Hoffmann.

Last month, the company announced that its co-CEO Marc Maurer would depart in July, with Hoffmann set to take over as sole chief.