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On Holding and Donatella Versace are highlighting a new phase of global brand expansion, where growth increasingly depends on celebrity partnerships, digital commerce, innovation and younger consumers. On is strengthening its presence beyond running through high-profile sports collaborations, while Versace’s partnership with REVOLVE targets Gen Z and Millennial audiences through digital-first fashion. Together, these developments reflect how leading brands are blending culture, technology, influence and consumer engagement to build stronger global relevance.
The global consumer-brand landscape is entering a new phase in which celebrity influence, digital engagement, product innovation and direct relationships with younger consumers are becoming increasingly important drivers of growth. Two major developments this week illustrate that transformation: Swiss sportswear company On Holding has announced a $1 billion share-buyback program alongside ambitious growth targets, while fashion icon Donatella Versace has entered into a joint venture with digital fashion retailer REVOLVE Group to build a new fashion and beauty business focused on Millennial and Gen Z consumers.
Although the companies operate in different parts of the fashion and lifestyle market, their strategies highlight a common industry theme: leading brands are increasingly looking beyond their traditional categories and distribution models to create broader cultural relevance and strengthen direct connections with consumers.
Swiss premium sportswear company On Holding announced on September 22, 2026, that it had authorized a share-repurchase program worth up to $1 billion, which is expected to run through the end of 2029. At the same time, the company unveiled longer-term financial targets designed to support its continued international expansion.
On is targeting high-teens annual net-sales growth in constant currency over the longer term and expects net sales to reach at least CHF 5.6 billion by 2029. For 2026, the company has maintained expectations for sales growth in the low-20% range in constant currency, with a gross-profit margin of at least 65% and an adjusted EBITDA margin of approximately 19.5% to 20%.
The targets underline how quickly On has evolved from a specialist running-shoe company into a broader global premium sportswear brand.
In 2025, On generated more than CHF 3 billion in annual net sales, while its apparel and accessories businesses grew as a proportion of overall revenue. Its retail footprint also expanded to nearly 70 company-operated locations, demonstrating the company's effort to develop a stronger direct relationship with consumers rather than relying exclusively on wholesale distribution.
A major part of On's next growth chapter involves expanding beyond its traditional strength in running.
One of On's most significant brand moves has been its partnership with French football superstar Kylian Mbappé, who had previously been associated with Nike for around two decades. The partnership provides On with a globally recognizable athlete as it seeks to build credibility in the highly competitive football category.
Football represents a major opportunity, but it also places On in direct competition with established sportswear giants including Nike, Adidas and Puma.
On's strategy appears to combine athlete partnerships, technical innovation and premium positioning. The company has also recruited former French footballer Thierry Henry to lead its football efforts and is exploring how technologies such as its LightSpray manufacturing platform can contribute to performance footwear.
The move follows a strategy On has already used successfully in tennis, where its relationship with Roger Federer helped increase global brand awareness.
Importantly, On is also attracting younger consumers. The company said in its second-quarter 2026 results that consumers under the age of 34 represent more than one-third of its customer base, highlighting the increasing importance of younger audiences to the brand's future growth.
At the same time, another major development is reshaping the intersection of luxury fashion, celebrity culture and digital commerce.
Donatella Versace has entered into a joint venture with REVOLVE Group, the New York-listed digital fashion retailer, to develop a new fashion and beauty business targeting Millennials and Generation Z.
The partnership combines Donatella Versace's decades of experience and cultural influence across luxury fashion, entertainment, music and celebrity culture with REVOLVE's expertise in digital marketing, e-commerce, influencer engagement and data-driven merchandising.
REVOLVE describes itself as a next-generation fashion retailer serving Millennial and Gen Z consumers. Its platform connects millions of consumers with thousands of fashion influencers and more than 1,600 emerging, established and owned brands.
The company's financial scale makes the partnership particularly notable. REVOLVE generated approximately $1.23 billion in net sales in 2025, up 8% year over year, while net income increased 25% to $61.1 million. The company had approximately 2.84 million active customers at the end of 2025.
Those numbers demonstrate why REVOLVE represents an attractive platform for building brands designed specifically around the shopping habits of younger digital consumers.
The partnership also comes during an important period of transition for the Versace name.
In December 2025, Prada Group completed its acquisition of Versace from Capri Holdings, following an agreement announced earlier that year valuing the transaction at approximately €1.25 billion on an enterprise-value basis.
Donatella Versace, who had served as the fashion house's creative director until March 2025, subsequently became its chief brand ambassador. Her REVOLVE venture therefore represents a new entrepreneurial chapter while maintaining her powerful association with global fashion culture.
For REVOLVE, the partnership offers access to one of fashion's most recognizable creative personalities. For Donatella Versace, REVOLVE provides an established digital infrastructure capable of reaching consumers through social media, influencers, mobile commerce and online discovery.
While On Holding and Donatella Versace–REVOLVE represent very different businesses, the strategic similarities are striking.
Both developments demonstrate the growing power of cultural relevance in modern brand building.
On is using athletes including Kylian Mbappé and its presence in running, tennis and now football to expand from performance footwear into a wider sports and lifestyle ecosystem. REVOLVE, meanwhile, is combining its digital-native retail infrastructure with Donatella Versace's global recognition to build a business designed for consumers whose purchasing decisions are increasingly influenced by social platforms, creators, celebrities and digital communities.
Both strategies also reflect the growing importance of younger consumers.
For brands, simply producing a strong product is increasingly not enough. Companies must create an ecosystem around their products involving storytelling, technology, community, experience and cultural visibility.
On's expansion demonstrates how an emerging premium brand can challenge long-established industry leaders through innovation, selective distribution, athlete partnerships and distinctive design. Donatella Versace's partnership with REVOLVE shows how traditional fashion influence can be combined with a digital-first commerce platform to reach a new generation.
The common denominator is clear: the world's leading consumer brands are increasingly competing not just for sales, but for attention, relevance and long-term consumer relationships.
As On Holding pushes deeper into global sports culture and Donatella Versace and REVOLVE build a new proposition around next-generation fashion consumers, both developments point toward an industry in which the boundaries between sports, fashion, technology, entertainment and digital commerce are becoming increasingly blurred.
For the global branding industry, that convergence could become one of the defining themes of 2026 and beyond.
For questions or comments write to contactus@bostonbrandmedia.com
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