Jonathan Komp: Understood. We’ll look forward to that. Thank you.
Operator: Your next question comes from the line of Tom Nikic from Wedbush. Your line is open.
Tom Nikic: Hi. Thanks for taking my question. So, your growth in all the regions has been quite strong, though the EMEA region has been slower than North America and Asia. The EMEA region did slow quite a bit from the first quarter, which I guess is somewhat surprising given your home market, and I would think that you’d have good brand awareness there and stuff like that. Just can you talk about the trends in EMEA that you’re seeing, and is there anything that’s kind of restraining your growth in EMEA and preventing you from seeing the kind of growth that you’re experiencing in North America and Asia?
David Allemann: Thank you for the question, Tom. So, let me elaborate a little bit on what we’re doing in EMEA and how we’re looking at the numbers. So, I think first of all, we want to say On grew in the first half of the year in EMEA with 40%. So, we feel that’s a strong growth rate, and that’s very much also in line with our expectations. In Q2, we grew by 29%, as already stated in the prepared remarks. We see a very strong demand coming from UK. We’re very happy with the consumer mix. We already elaborated on the London store that is doing really well. We had pop-up spaces in Liverpool kind of tapping into an even younger consumer segment, so very, very happy there. Then we see we’re really building markets like France, like Spain, like Italy.
That’s why we, for example, are accelerating the retail store in Paris, which will be a very important one to tap into the French market in an even more advanced way. And then we’re very much refocusing On around performance distribution and running distribution in Germany, Austria, and Switzerland. Even though we’re doing that, the strongest absolute growth contribution comes from those three markets to the European number. So, that’s very, very important. On is still gaining market share in those three markets. They’re growing, and they’re contributing most of the growth to the EMEA region. What you can expect is that, in the second half of the year we will have an impact from roughly 5% to 10% on the European wholesale number from door closures.
So, we’re closing roughly 200 doors that are not focused around performance and run distribution and that are not reaching On’s core consumer segments. So, this is how we’re looking at it. We’re very happy on how kind of that effort is unfolding. One example, the Cloudboom Echo 3, which is our fastest performance product sold out in Switzerland within 24 hours, which shows that On is really being perceived at that performance running brand, and the efforts are working out.
Tom Nikic: Understood. Thank you very much, and best of luck in the back half of the year.
Operator: And your next question comes from the line of Abbie Zvejnieks from Piper Sandler. Your line is open.
Abbie Zvejnieks: Great. Thanks so much for taking my question. Just in terms of wholesale, a really challenging environment in the U.S. I mean, you’ve outperformed, obviously, but is there any difference you’re seeing between performance products and lifestyle products? And then, is there any guidelines on how you’re thinking about what your future opportunity is for market share in the specialty run channel? Thank you.
Martin Hoffman: Thank you. So, again, here, I think, as I already said, we’re seeing a very promotional environment and we’re very much focused around bringing premium products to life with our channel partners in our own D2C environment at the full price. So what this results in is, in our running range, growing even stronger than our all-day range, which is a great sign that basically the performance of the product is being appreciated and we’re winning with the new launches that we just had, that David spoke about. So Cloudmonster and Cloudgo and so on. The second thing is, On is really playing at this intersection of performance and all day. So when we take a product like the Cloudmonster that is hugely gaining share on the running route, it’s already the number two On product if we count right now on running routes, that’s also resonating really, really well with the younger consumer in channels like JD.
