On Boosts Outlook on Record Sales for Sneaker Upstart.

On Holding AG, a Swiss sneaker maker backed by Roger Federer, has raised its sales outlook for the year to at least 2.29 billion Swiss francs. The company's record-high net sales last quarter saw a 33% increase from the previous year, driven by sales through its own stores and websites. On has rapidly expanded across Europe, North America, and Asia, and is venturing into sportswear with a new apparel line and a partnership with Zendaya. Despite its success, On does not plan on offering widespread discounts during the holiday season. [Extracted from the article]