On crosses $1B in quarterly sales; Zendaya co-created collection drives 20M+ engaged US views and pulls 18-24 demo into apparel
Swiss sportswear brand On posted record Q1 2026 results with revenue of 831.9 million Swiss francs ($1.02 billion), the first time the company has crossed CHF 800 million in a single quarter. Net income rose 82.2% to CHF 103.3 million ($127 million), and gross margin expanded to 64.2% from 59.9% a year earlier despite tariff pressure. Apparel sales grew 45.1% to CHF 55.3 million ($68 million), crossing 10% of revenue in direct-to-consumer channels for the first time. A Zendaya co-created collection dropped April 16, with a Spike Jonze-directed campaign film that generated over 20 million engaged US views; On said the collection "pretty much evaporated" on drop day. Co-CEO David Allemann told Glossy that 18- to 24-year-olds are now entering On DTC through apparel first before buying footwear -- the largest increase in that demo since tracking began.
THE BREAKDOWN
Zendaya's 20 million engaged US views from a single product drop is a concrete benchmark for what a top-tier talent collaboration delivers for a lifestyle brand -- agents negotiating apparel co-creation deals should use this number to set baseline performance expectations when pricing those agreements. On's apparel category surge driven by a single campaign shows talent-led drops can open entirely new revenue categories for performance brands, which is worth pricing into deal terms as a category-expansion premium. The 18-24 cohort entering On DTC through apparel first is a signal that young-skewing talent can deliver new customer segments for brands that historically reached different demographics. The Spike Jonze-directed film, rather than short-form content, is a data point that story-led campaigns outperform clip-heavy activations for driving both culture coverage and sales conversion.
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