On opens first Spanish store in Madrid

Swiss brand On has arrived in Madrid’s “prime” retail district. The sports brand continues to expand its retail network with the opening of its first store in Spain, at 17 Calle Serrano, which also marks its debut on the Iberian Peninsula. The 250-square-metre store spans two floors, where the brand sells its range of footwear, clothing and accessories.

“Spain represents a significant opportunity for On to expand its global reach and consolidate its premium positioning in the sports industry,” said Bianca Pestalozzi-Houchangnia, On’s managing director for the EMEA region.

“The location sits right on the route of the San Silvestre Vallecana, which attracts tens of thousands of runners each year, and is ideal for reinforcing our premium presence and boosting brand recognition in the Spanish capital. We look forward to building strong connections with Madrid’s energetic community of runners and sports enthusiasts,” she added.

The opening in Madrid’s Salamanca neighbourhood follows recent launches by the company in Zurich, Seoul, Mexico City and Riyadh. In design terms, and given the historic character of the space, On has “embraced minimalism”, the company said in a statement, “allowing the historic importance of the architecture to take centre stage and honour its legacy.”

Beyond the commercial offering, the brand intends its new Madrid store to serve as a meeting point for the local community, so it will host running clubs and a range of sports-related activities.

Financially, the company closed the third quarter with a 25% increase in turnover (35% at constant exchange rates) year on year, with net revenue of 794 million Swiss francs (860 million euros). Against this backdrop, it has revised upwards its forecast for the 2025 financial year, in which it expects sales growth at constant exchange rates of 34%, equivalent to turnover of around 2,980 million Swiss francs (3,209 million euros).