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Swiss running shoe company On is establishing itself in downtown Zurich. A multi-storey branch will be built at Limmatquai 28 in Zurich, CH-Media writes.
The new store will span two floors, according to a building application. A spokesperson for On confirmed the construction plans to CH-Media. Shopping enthusiasts can expect shoes, clothes and accessories spread over an area of 500 square meters starting from the beginning of 2025. Community events are also planned at the store.
Music Hug can’t afford the rent anymore
On currently has a flagship store in his hometown of Zurich. However, it is located in Zurich-West, away from the city center, right next to the manufacturer’s headquarters.
But not everyone will be happy with On’s new store: This is the headquarters of the Hug music store. However, due to rising rent prices, Musik Hug’s location is no longer affordable. The lease agreement continues until the end of January 2025. A new location has not been determined yet.
It is planned to open a store in China as well
The Swiss running shoe company doesn’t just want to continue growing in Switzerland. Ultimately, it wants to be “the strongest global premium sports brand.”
To achieve this, it wants to open 20 to 25 new branches every year; half of them are in China. On currently operates 32 stores worldwide. Most of this is in the US, and the company is also publicly traded. On also rented space in a popular area of New York and London. The first branch in Germany will open in the middle of Berlin this March.
The Swiss company also announced business figures on Monday. Sales increased by an impressive 47 percent to 1.79 billion francs in 2023. However, the result did not convince shareholders. There was a huge 9 percent drop in share prices. (kae)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
