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  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel"/>
  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:label id="lab_onholdingag_ReserveForCurrentTaxBenefitsOnExchangeDifferencesOnTranslationMember_019eeebf-a8dd-7311-82cb-932544569337_terseLabel_en-US" xlink:label="lab_onholdingag_ReserveForCurrentTaxBenefitsOnExchangeDifferencesOnTranslationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Taxes on foreign currency translation effect</link:label>
    <link:label id="lab_onholdingag_ReserveForCurrentTaxBenefitsOnExchangeDifferencesOnTranslationMember_label_en-US" xlink:label="lab_onholdingag_ReserveForCurrentTaxBenefitsOnExchangeDifferencesOnTranslationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reserve For Current Tax Benefits On Exchange Differences On Translation [Member]</link:label>
    <link:label id="lab_onholdingag_ReserveForCurrentTaxBenefitsOnExchangeDifferencesOnTranslationMember_documentation_en-US" xlink:label="lab_onholdingag_ReserveForCurrentTaxBenefitsOnExchangeDifferencesOnTranslationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Reserve For Current Tax Benefits On Exchange Differences On Translation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_ReserveForCurrentTaxBenefitsOnExchangeDifferencesOnTranslationMember" xlink:href="onholdingag-20260630.xsd#onholdingag_ReserveForCurrentTaxBenefitsOnExchangeDifferencesOnTranslationMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_ReserveForCurrentTaxBenefitsOnExchangeDifferencesOnTranslationMember" xlink:to="lab_onholdingag_ReserveForCurrentTaxBenefitsOnExchangeDifferencesOnTranslationMember" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_DepositAssetsMember_019eeebf-a8dd-781e-baa3-248051fd1542_terseLabel_en-US" xlink:label="lab_onholdingag_DepositAssetsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deposits</link:label>
    <link:label id="lab_onholdingag_DepositAssetsMember_label_en-US" xlink:label="lab_onholdingag_DepositAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deposit Assets [Member]</link:label>
    <link:label id="lab_onholdingag_DepositAssetsMember_documentation_en-US" xlink:label="lab_onholdingag_DepositAssetsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deposit Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_DepositAssetsMember" xlink:href="onholdingag-20260630.xsd#onholdingag_DepositAssetsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_DepositAssetsMember" xlink:to="lab_onholdingag_DepositAssetsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_AnticipatedNetSalesReturns_019f6a2c-a6d5-78ef-9bca-d6c954d5d3f0_terseLabel_en-US" xlink:label="lab_onholdingag_AnticipatedNetSalesReturns" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Anticipated net sales returns</link:label>
    <link:label id="lab_onholdingag_AnticipatedNetSalesReturns_label_en-US" xlink:label="lab_onholdingag_AnticipatedNetSalesReturns" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Anticipated Net Sales Returns</link:label>
    <link:label id="lab_onholdingag_AnticipatedNetSalesReturns_documentation_en-US" xlink:label="lab_onholdingag_AnticipatedNetSalesReturns" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Anticipated Net Sales Returns</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_AnticipatedNetSalesReturns" xlink:href="onholdingag-20260630.xsd#onholdingag_AnticipatedNetSalesReturns"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_AnticipatedNetSalesReturns" xlink:to="lab_onholdingag_AnticipatedNetSalesReturns" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_019eeebf-a98c-7c34-8970-d55e6d2419f1_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Purchase of property, plant and equipment</link:label>
    <link:label id="lab_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_label_en-US" xlink:label="lab_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Purchase of property, plant and equipment, classified as investing activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:to="lab_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember_019eeebf-a98c-7a8e-adc1-4f4105fd52d1_terseLabel_en-US" xlink:label="lab_ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign currency translation effect</link:label>
    <link:label id="lab_ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember_label_en-US" xlink:label="lab_ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reserve of exchange differences on translation [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember" xlink:to="lab_ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_StoresAndShowroomsMember_019eeebf-a98c-76e5-8bdf-97f6ded7a306_terseLabel_en-US" xlink:label="lab_onholdingag_StoresAndShowroomsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stores &amp; showrooms</link:label>
    <link:label id="lab_onholdingag_StoresAndShowroomsMember_label_en-US" xlink:label="lab_onholdingag_StoresAndShowroomsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stores And Showrooms [Member]</link:label>
    <link:label id="lab_onholdingag_StoresAndShowroomsMember_documentation_en-US" xlink:label="lab_onholdingag_StoresAndShowroomsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Stores And Showrooms</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_StoresAndShowroomsMember" xlink:href="onholdingag-20260630.xsd#onholdingag_StoresAndShowroomsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_StoresAndShowroomsMember" xlink:to="lab_onholdingag_StoresAndShowroomsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_DisclosureOfMajorComponentsOfTaxExpenseIncomeTableTextBlock_019eeebf-a8dd-7d84-a8b1-c0ec060e86ba_terseLabel_en-US" xlink:label="lab_onholdingag_DisclosureOfMajorComponentsOfTaxExpenseIncomeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Income Tax Expense</link:label>
    <link:label id="lab_onholdingag_DisclosureOfMajorComponentsOfTaxExpenseIncomeTableTextBlock_label_en-US" xlink:label="lab_onholdingag_DisclosureOfMajorComponentsOfTaxExpenseIncomeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Major Components Of Tax Expense (Income) [Table Text Block]</link:label>
    <link:label id="lab_onholdingag_DisclosureOfMajorComponentsOfTaxExpenseIncomeTableTextBlock_documentation_en-US" xlink:label="lab_onholdingag_DisclosureOfMajorComponentsOfTaxExpenseIncomeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure Of Major Components Of Tax Expense (Income)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_DisclosureOfMajorComponentsOfTaxExpenseIncomeTableTextBlock" xlink:href="onholdingag-20260630.xsd#onholdingag_DisclosureOfMajorComponentsOfTaxExpenseIncomeTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_DisclosureOfMajorComponentsOfTaxExpenseIncomeTableTextBlock" xlink:to="lab_onholdingag_DisclosureOfMajorComponentsOfTaxExpenseIncomeTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ClassesOfShareCapitalAxis_019eeebf-a98d-7547-8562-17e0f56a48a5_terseLabel_en-US" xlink:label="lab_ifrs-full_ClassesOfShareCapitalAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of share capital [axis]</link:label>
    <link:label id="lab_ifrs-full_ClassesOfShareCapitalAxis_label_en-US" xlink:label="lab_ifrs-full_ClassesOfShareCapitalAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of share capital [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ClassesOfShareCapitalAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ClassesOfShareCapitalAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ClassesOfShareCapitalAxis" xlink:to="lab_ifrs-full_ClassesOfShareCapitalAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NumberOfSharesAuthorised_019eeebf-a98c-7a51-8ceb-bac7902624b5_terseLabel_en-US" xlink:label="lab_ifrs-full_NumberOfSharesAuthorised" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of shares registered (in shares)</link:label>
    <link:label id="lab_ifrs-full_NumberOfSharesAuthorised_label_en-US" xlink:label="lab_ifrs-full_NumberOfSharesAuthorised" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of shares authorised</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NumberOfSharesAuthorised" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_NumberOfSharesAuthorised"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NumberOfSharesAuthorised" xlink:to="lab_ifrs-full_NumberOfSharesAuthorised" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_Equity_019eeebf-a98c-7ca3-8ea0-0efadb8bdb0f_totalLabel_en-US" xlink:label="lab_ifrs-full_Equity" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Equity</link:label>
    <link:label id="lab_ifrs-full_Equity_019eeebf-a98c-7e04-8f06-6194622b7084_periodStartLabel_en-US" xlink:label="lab_ifrs-full_Equity" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Equity at beginning of period</link:label>
    <link:label id="lab_ifrs-full_Equity_019eeebf-a98c-7180-acf3-f134ccdeb06c_periodEndLabel_en-US" xlink:label="lab_ifrs-full_Equity" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Equity at end of period</link:label>
    <link:label id="lab_ifrs-full_Equity_019eeebf-a98c-7d68-9fd2-3ccc1e835b4c_terseLabel_en-US" xlink:label="lab_ifrs-full_Equity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity</link:label>
    <link:label id="lab_ifrs-full_Equity_label_en-US" xlink:label="lab_ifrs-full_Equity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Equity" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_Equity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_Equity" xlink:to="lab_ifrs-full_Equity" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_SalesChannelsDomain_019eeebf-a8dd-72b4-8b7f-4295c4bbce04_terseLabel_en-US" xlink:label="lab_ifrs-full_SalesChannelsDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sales channels [domain]</link:label>
    <link:label id="lab_ifrs-full_SalesChannelsDomain_label_en-US" xlink:label="lab_ifrs-full_SalesChannelsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sales channels [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_SalesChannelsDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_SalesChannelsDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_SalesChannelsDomain" xlink:to="lab_ifrs-full_SalesChannelsDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_PropertyPlantAndEquipment_019eeebf-a8dd-762a-9966-a1d39953ffe9_terseLabel_en-US" xlink:label="lab_ifrs-full_PropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, plant and equipment</link:label>
    <link:label id="lab_ifrs-full_PropertyPlantAndEquipment_019eeebf-a8dd-75b7-91e2-4f96aea3f389_periodStartLabel_en-US" xlink:label="lab_ifrs-full_PropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Property, plant and equipment at beginning of period</link:label>
    <link:label id="lab_ifrs-full_PropertyPlantAndEquipment_019eeebf-a8dd-756a-8b7c-0f1b1d91d0fe_periodEndLabel_en-US" xlink:label="lab_ifrs-full_PropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Property, plant and equipment at the end of period</link:label>
    <link:label id="lab_ifrs-full_PropertyPlantAndEquipment_label_en-US" xlink:label="lab_ifrs-full_PropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, plant and equipment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PropertyPlantAndEquipment" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_PropertyPlantAndEquipment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PropertyPlantAndEquipment" xlink:to="lab_ifrs-full_PropertyPlantAndEquipment" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory_019eeebf-a8dd-7236-91e8-a2c4ac1f5963_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Right-of-Use Assets</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of quantitative information about right-of-use assets [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory" xlink:to="lab_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_GrossProfit_019eeebf-a8dd-7138-94d7-645a00e4acd2_totalLabel_en-US" xlink:label="lab_ifrs-full_GrossProfit" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Gross profit</link:label>
    <link:label id="lab_ifrs-full_GrossProfit_label_en-US" xlink:label="lab_ifrs-full_GrossProfit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gross profit</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GrossProfit" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_GrossProfit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_GrossProfit" xlink:to="lab_ifrs-full_GrossProfit" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_ProductionEquipmentMember_019eeebf-a98d-72da-b3ef-d54816b9038e_terseLabel_en-US" xlink:label="lab_onholdingag_ProductionEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Production equipment</link:label>
    <link:label id="lab_onholdingag_ProductionEquipmentMember_label_en-US" xlink:label="lab_onholdingag_ProductionEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Production Equipment [Member]</link:label>
    <link:label id="lab_onholdingag_ProductionEquipmentMember_documentation_en-US" xlink:label="lab_onholdingag_ProductionEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Production Equipment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_ProductionEquipmentMember" xlink:href="onholdingag-20260630.xsd#onholdingag_ProductionEquipmentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_ProductionEquipmentMember" xlink:to="lab_onholdingag_ProductionEquipmentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_PurchaseOfTreasurySharesShares_019eeebf-a8dd-72bf-822d-c1ceaa18ccc9_negatedTerseLabel_en-US" xlink:label="lab_onholdingag_PurchaseOfTreasurySharesShares" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Purchase of treasury shares (in shares)</link:label>
    <link:label id="lab_onholdingag_PurchaseOfTreasurySharesShares_label_en-US" xlink:label="lab_onholdingag_PurchaseOfTreasurySharesShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Purchase Of Treasury Shares, Shares</link:label>
    <link:label id="lab_onholdingag_PurchaseOfTreasurySharesShares_documentation_en-US" xlink:label="lab_onholdingag_PurchaseOfTreasurySharesShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Purchase Of Treasury Shares, Shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_PurchaseOfTreasurySharesShares" xlink:href="onholdingag-20260630.xsd#onholdingag_PurchaseOfTreasurySharesShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_PurchaseOfTreasurySharesShares" xlink:to="lab_onholdingag_PurchaseOfTreasurySharesShares" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_DisclosureOfBasisOfPreparationAbstract_019eeebf-a8dd-7c11-9a70-6f3590cf8144_terseLabel_en-US" xlink:label="lab_onholdingag_DisclosureOfBasisOfPreparationAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure Of Basis Of Preparation [Abstract]</link:label>
    <link:label id="lab_onholdingag_DisclosureOfBasisOfPreparationAbstract_label_en-US" xlink:label="lab_onholdingag_DisclosureOfBasisOfPreparationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Basis Of Preparation [Abstract]</link:label>
    <link:label id="lab_onholdingag_DisclosureOfBasisOfPreparationAbstract_documentation_en-US" xlink:label="lab_onholdingag_DisclosureOfBasisOfPreparationAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Basis [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_DisclosureOfBasisOfPreparationAbstract" xlink:href="onholdingag-20260630.xsd#onholdingag_DisclosureOfBasisOfPreparationAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_DisclosureOfBasisOfPreparationAbstract" xlink:to="lab_onholdingag_DisclosureOfBasisOfPreparationAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IntangibleAssetsAndGoodwill_019eeebf-a98d-7a9f-87ee-94cadf121cb0_terseLabel_en-US" xlink:label="lab_ifrs-full_IntangibleAssetsAndGoodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible assets</link:label>
    <link:label id="lab_ifrs-full_IntangibleAssetsAndGoodwill_019eeebf-a98d-779e-813a-484079382f1e_periodStartLabel_en-US" xlink:label="lab_ifrs-full_IntangibleAssetsAndGoodwill" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Intangible assets and goodwill at beginning of period</link:label>
    <link:label id="lab_ifrs-full_IntangibleAssetsAndGoodwill_019eeebf-a98d-7870-9b43-e589fb5de850_periodEndLabel_en-US" xlink:label="lab_ifrs-full_IntangibleAssetsAndGoodwill" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Intangible assets and goodwill at end of the period</link:label>
    <link:label id="lab_ifrs-full_IntangibleAssetsAndGoodwill_label_en-US" xlink:label="lab_ifrs-full_IntangibleAssetsAndGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible assets and goodwill</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IntangibleAssetsAndGoodwill" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_IntangibleAssetsAndGoodwill"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IntangibleAssetsAndGoodwill" xlink:to="lab_ifrs-full_IntangibleAssetsAndGoodwill" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_StatementOfComprehensiveIncomeAbstract_label_en-US" xlink:label="lab_ifrs-full_StatementOfComprehensiveIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of comprehensive income [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_StatementOfComprehensiveIncomeAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_StatementOfComprehensiveIncomeAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_StatementOfComprehensiveIncomeAbstract" xlink:to="lab_ifrs-full_StatementOfComprehensiveIncomeAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_NumberOfReportingSegments_019eeebf-a98c-7575-b020-4c398f24471b_terseLabel_en-US" xlink:label="lab_onholdingag_NumberOfReportingSegments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of reporting segments</link:label>
    <link:label id="lab_onholdingag_NumberOfReportingSegments_label_en-US" xlink:label="lab_onholdingag_NumberOfReportingSegments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Reporting Segments</link:label>
    <link:label id="lab_onholdingag_NumberOfReportingSegments_documentation_en-US" xlink:label="lab_onholdingag_NumberOfReportingSegments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Reporting Segments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_NumberOfReportingSegments" xlink:href="onholdingag-20260630.xsd#onholdingag_NumberOfReportingSegments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_NumberOfReportingSegments" xlink:to="lab_onholdingag_NumberOfReportingSegments" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_StatementOfChangesInEquityLineItems_019eeebf-a8dd-76e8-88fc-75d367d8a5cc_terseLabel_en-US" xlink:label="lab_ifrs-full_StatementOfChangesInEquityLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of changes in equity [line items]</link:label>
    <link:label id="lab_ifrs-full_StatementOfChangesInEquityLineItems_label_en-US" xlink:label="lab_ifrs-full_StatementOfChangesInEquityLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of changes in equity [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_StatementOfChangesInEquityLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_StatementOfChangesInEquityLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_StatementOfChangesInEquityLineItems" xlink:to="lab_ifrs-full_StatementOfChangesInEquityLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherCurrentNonfinancialLiabilities_019eeebf-a98c-7b3f-b426-9d697530cc85_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherCurrentNonfinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other current operating liabilities</link:label>
    <link:label id="lab_ifrs-full_OtherCurrentNonfinancialLiabilities_019eeebf-a98c-77e4-be42-7087912ce82b_totalLabel_en-US" xlink:label="lab_ifrs-full_OtherCurrentNonfinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Other current operating liabilities</link:label>
    <link:label id="lab_ifrs-full_OtherCurrentNonfinancialLiabilities_label_en-US" xlink:label="lab_ifrs-full_OtherCurrentNonfinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other current non-financial liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherCurrentNonfinancialLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OtherCurrentNonfinancialLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherCurrentNonfinancialLiabilities" xlink:to="lab_ifrs-full_OtherCurrentNonfinancialLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherCurrentLiabilities_019eeebf-a8dd-7136-8f57-dac90784154f_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherCurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other current operating liabilities</link:label>
    <link:label id="lab_ifrs-full_OtherCurrentLiabilities_label_en-US" xlink:label="lab_ifrs-full_OtherCurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other current liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherCurrentLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OtherCurrentLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherCurrentLiabilities" xlink:to="lab_ifrs-full_OtherCurrentLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfOtherCurrentLiabilitiesExplanatory_019eeebf-a8dd-795b-9804-b3144cac671d_verboseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfOtherCurrentLiabilitiesExplanatory" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other current operating liabilities</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfOtherCurrentLiabilitiesExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfOtherCurrentLiabilitiesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of other current liabilities [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfOtherCurrentLiabilitiesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfOtherCurrentLiabilitiesExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfOtherCurrentLiabilitiesExplanatory" xlink:to="lab_ifrs-full_DisclosureOfOtherCurrentLiabilitiesExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_ApparelMember_019eeebf-a8dd-7f1a-ab70-5835e16e59da_terseLabel_en-US" xlink:label="lab_onholdingag_ApparelMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Apparel</link:label>
    <link:label id="lab_onholdingag_ApparelMember_label_en-US" xlink:label="lab_onholdingag_ApparelMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Apparel [Member]</link:label>
    <link:label id="lab_onholdingag_ApparelMember_documentation_en-US" xlink:label="lab_onholdingag_ApparelMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Apparel</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_ApparelMember" xlink:href="onholdingag-20260630.xsd#onholdingag_ApparelMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_ApparelMember" xlink:to="lab_onholdingag_ApparelMember" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_DisclosureOfDetailedInformationAboutFinancialResultsTableTextBlock_019eeebf-a98c-78e7-9842-84721c85ff1b_terseLabel_en-US" xlink:label="lab_onholdingag_DisclosureOfDetailedInformationAboutFinancialResultsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Financial Result</link:label>
    <link:label id="lab_onholdingag_DisclosureOfDetailedInformationAboutFinancialResultsTableTextBlock_label_en-US" xlink:label="lab_onholdingag_DisclosureOfDetailedInformationAboutFinancialResultsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Detailed Information About Financial Results [Table Text Block]</link:label>
    <link:label id="lab_onholdingag_DisclosureOfDetailedInformationAboutFinancialResultsTableTextBlock_documentation_en-US" xlink:label="lab_onholdingag_DisclosureOfDetailedInformationAboutFinancialResultsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure Of Detailed Information About Financial Results</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_DisclosureOfDetailedInformationAboutFinancialResultsTableTextBlock" xlink:href="onholdingag-20260630.xsd#onholdingag_DisclosureOfDetailedInformationAboutFinancialResultsTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_DisclosureOfDetailedInformationAboutFinancialResultsTableTextBlock" xlink:to="lab_onholdingag_DisclosureOfDetailedInformationAboutFinancialResultsTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation_019eeebf-a98c-7515-ad6d-3200d27156d0_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign currency translation effect</link:label>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation_label_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other comprehensive income, before tax, exchange differences on translation of foreign operations</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:to="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems_019eeebf-a8dd-7ac2-9de8-33bc589d14fd_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about property, plant and equipment [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about property, plant and equipment [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_LineCreditFacilityAgreementExtensionPeriod_019eeebf-a98d-73d9-92c0-bbf33c5ec999_terseLabel_en-US" xlink:label="lab_onholdingag_LineCreditFacilityAgreementExtensionPeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Extension period</link:label>
    <link:label id="lab_onholdingag_LineCreditFacilityAgreementExtensionPeriod_label_en-US" xlink:label="lab_onholdingag_LineCreditFacilityAgreementExtensionPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line Credit Facility Agreement, Extension Period</link:label>
    <link:label id="lab_onholdingag_LineCreditFacilityAgreementExtensionPeriod_documentation_en-US" xlink:label="lab_onholdingag_LineCreditFacilityAgreementExtensionPeriod" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Line Credit Facility Agreement, Extension Period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_LineCreditFacilityAgreementExtensionPeriod" xlink:href="onholdingag-20260630.xsd#onholdingag_LineCreditFacilityAgreementExtensionPeriod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_LineCreditFacilityAgreementExtensionPeriod" xlink:to="lab_onholdingag_LineCreditFacilityAgreementExtensionPeriod" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_NonDerivativeOtherFinancialLiabilitiesUndiscountedCashFlows_019eeebf-a98c-7849-aa6a-6a7e0e300de6_terseLabel_en-US" xlink:label="lab_onholdingag_NonDerivativeOtherFinancialLiabilitiesUndiscountedCashFlows" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other financial liabilities</link:label>
    <link:label id="lab_onholdingag_NonDerivativeOtherFinancialLiabilitiesUndiscountedCashFlows_label_en-US" xlink:label="lab_onholdingag_NonDerivativeOtherFinancialLiabilitiesUndiscountedCashFlows" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-Derivative Other Financial Liabilities Undiscounted Cash Flows</link:label>
    <link:label id="lab_onholdingag_NonDerivativeOtherFinancialLiabilitiesUndiscountedCashFlows_documentation_en-US" xlink:label="lab_onholdingag_NonDerivativeOtherFinancialLiabilitiesUndiscountedCashFlows" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Non-Derivative Other Financial Liabilities Undiscounted Cash Flows</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_NonDerivativeOtherFinancialLiabilitiesUndiscountedCashFlows" xlink:href="onholdingag-20260630.xsd#onholdingag_NonDerivativeOtherFinancialLiabilitiesUndiscountedCashFlows"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_NonDerivativeOtherFinancialLiabilitiesUndiscountedCashFlows" xlink:to="lab_onholdingag_NonDerivativeOtherFinancialLiabilitiesUndiscountedCashFlows" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable_019eeebf-a98c-7e77-b8d6-b4fd409ab05f_terseLabel_en-US" xlink:label="lab_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trade receivables</link:label>
    <link:label id="lab_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable_label_en-US" xlink:label="lab_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for decrease (increase) in trade accounts receivable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:to="lab_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IntangibleAssetsUnderDevelopmentMember_019eeebf-a98d-788e-8cf9-e8beb19888ed_terseLabel_en-US" xlink:label="lab_ifrs-full_IntangibleAssetsUnderDevelopmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible assets under development</link:label>
    <link:label id="lab_ifrs-full_IntangibleAssetsUnderDevelopmentMember_label_en-US" xlink:label="lab_ifrs-full_IntangibleAssetsUnderDevelopmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible assets under development [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IntangibleAssetsUnderDevelopmentMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_IntangibleAssetsUnderDevelopmentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IntangibleAssetsUnderDevelopmentMember" xlink:to="lab_ifrs-full_IntangibleAssetsUnderDevelopmentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of non-adjusting events after reporting period [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract" xlink:to="lab_ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FixturesAndFittingsMember_019eeebf-a8dd-7e3a-8418-9db5eb1f3b6f_terseLabel_en-US" xlink:label="lab_ifrs-full_FixturesAndFittingsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Furniture and fixtures</link:label>
    <link:label id="lab_ifrs-full_FixturesAndFittingsMember_label_en-US" xlink:label="lab_ifrs-full_FixturesAndFittingsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fixtures and fittings [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FixturesAndFittingsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_FixturesAndFittingsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FixturesAndFittingsMember" xlink:to="lab_ifrs-full_FixturesAndFittingsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_019eeebf-a98c-7435-8da6-04c811934fb9_terseLabel_en-US" xlink:label="lab_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other current financial assets at fair value through profit and loss</link:label>
    <link:label id="lab_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_label_en-US" xlink:label="lab_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial assets at fair value through profit or loss, category [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:to="lab_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProfitLossAttributableToOwnersOfParent_019eeebf-a8dd-7163-883d-0da90c2b312c_totalLabel_en-US" xlink:label="lab_ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net income / (loss)</link:label>
    <link:label id="lab_ifrs-full_ProfitLossAttributableToOwnersOfParent_019eeebf-a8dd-78d7-8538-f6bbbc3cd782_terseLabel_en-US" xlink:label="lab_ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net income / (loss)</link:label>
    <link:label id="lab_ifrs-full_ProfitLossAttributableToOwnersOfParent_019eeebf-a8dd-7924-941a-d1de4a13fae1_verboseLabel_en-US" xlink:label="lab_ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net income</link:label>
    <link:label id="lab_ifrs-full_ProfitLossAttributableToOwnersOfParent_019eeebf-a8dd-735c-951d-55df6a31d737_netLabel_en-US" xlink:label="lab_ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Net income (loss)</link:label>
    <link:label id="lab_ifrs-full_ProfitLossAttributableToOwnersOfParent_label_en-US" xlink:label="lab_ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit (loss), attributable to owners of parent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ProfitLossAttributableToOwnersOfParent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:to="lab_ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill_019eeebf-a98c-743c-a526-de014d22fb3f_terseLabel_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Currency Translation</link:label>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill_label_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) through net exchange differences, intangible assets and goodwill</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" xlink:to="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_DisclosureOfFinancialResultsTextBlock_019eeebf-a98c-70b3-b299-d32f03cb298f_terseLabel_en-US" xlink:label="lab_onholdingag_DisclosureOfFinancialResultsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial result</link:label>
    <link:label id="lab_onholdingag_DisclosureOfFinancialResultsTextBlock_label_en-US" xlink:label="lab_onholdingag_DisclosureOfFinancialResultsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Financial Results [Text Block]</link:label>
    <link:label id="lab_onholdingag_DisclosureOfFinancialResultsTextBlock_documentation_en-US" xlink:label="lab_onholdingag_DisclosureOfFinancialResultsTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure Of Financial Results</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_DisclosureOfFinancialResultsTextBlock" xlink:href="onholdingag-20260630.xsd#onholdingag_DisclosureOfFinancialResultsTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_DisclosureOfFinancialResultsTextBlock" xlink:to="lab_onholdingag_DisclosureOfFinancialResultsTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_StatementOfFinancialPositionAbstract_label_en-US" xlink:label="lab_ifrs-full_StatementOfFinancialPositionAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of financial position [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_StatementOfFinancialPositionAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_StatementOfFinancialPositionAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_StatementOfFinancialPositionAbstract" xlink:to="lab_ifrs-full_StatementOfFinancialPositionAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AdjustmentsForProvisions_019eeebf-a8dd-7048-b7b7-7d8d7b19f81d_terseLabel_en-US" xlink:label="lab_ifrs-full_AdjustmentsForProvisions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in provisions</link:label>
    <link:label id="lab_ifrs-full_AdjustmentsForProvisions_label_en-US" xlink:label="lab_ifrs-full_AdjustmentsForProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for provisions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdjustmentsForProvisions" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AdjustmentsForProvisions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdjustmentsForProvisions" xlink:to="lab_ifrs-full_AdjustmentsForProvisions" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_CoverAbstract_label_en-US" xlink:label="lab_dei_CoverAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cover [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_CoverAbstract" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_CoverAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CoverAbstract" xlink:to="lab_dei_CoverAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_MajorCustomersAxis_019f8a54-7126-7e36-a28f-993a52fa4c8b_terseLabel_en-US" xlink:label="lab_ifrs-full_MajorCustomersAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Major customers [axis]</link:label>
    <link:label id="lab_ifrs-full_MajorCustomersAxis_label_en-US" xlink:label="lab_ifrs-full_MajorCustomersAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Major customers [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_MajorCustomersAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_MajorCustomersAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_MajorCustomersAxis" xlink:to="lab_ifrs-full_MajorCustomersAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_UnusedProvisionReversedOtherProvisions_019eeebf-a8dd-71e7-8ae9-ca6ff4aef2db_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_UnusedProvisionReversedOtherProvisions" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Release</link:label>
    <link:label id="lab_ifrs-full_UnusedProvisionReversedOtherProvisions_label_en-US" xlink:label="lab_ifrs-full_UnusedProvisionReversedOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unused provision reversed, other provisions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_UnusedProvisionReversedOtherProvisions" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_UnusedProvisionReversedOtherProvisions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_UnusedProvisionReversedOtherProvisions" xlink:to="lab_ifrs-full_UnusedProvisionReversedOtherProvisions" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentLiabilities_019eeebf-a98c-7c99-a212-300df07f51e8_totalLabel_en-US" xlink:label="lab_ifrs-full_CurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Current liabilities</link:label>
    <link:label id="lab_ifrs-full_CurrentLiabilities_label_en-US" xlink:label="lab_ifrs-full_CurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CurrentLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentLiabilities" xlink:to="lab_ifrs-full_CurrentLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_SocialChargesMember_019eeebf-a8dd-7f04-abf6-1c10c304a95d_terseLabel_en-US" xlink:label="lab_onholdingag_SocialChargesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Social charges</link:label>
    <link:label id="lab_onholdingag_SocialChargesMember_label_en-US" xlink:label="lab_onholdingag_SocialChargesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Social Charges [Member]</link:label>
    <link:label id="lab_onholdingag_SocialChargesMember_documentation_en-US" xlink:label="lab_onholdingag_SocialChargesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Social Charges</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_SocialChargesMember" xlink:href="onholdingag-20260630.xsd#onholdingag_SocialChargesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_SocialChargesMember" xlink:to="lab_onholdingag_SocialChargesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_OnCloudsGmbHMember_019eeebf-a98c-765e-8c71-25fa6a60d6fb_terseLabel_en-US" xlink:label="lab_onholdingag_OnCloudsGmbHMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">On Clouds GmbH</link:label>
    <link:label id="lab_onholdingag_OnCloudsGmbHMember_label_en-US" xlink:label="lab_onholdingag_OnCloudsGmbHMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">On Clouds GmbH [Member]</link:label>
    <link:label id="lab_onholdingag_OnCloudsGmbHMember_documentation_en-US" xlink:label="lab_onholdingag_OnCloudsGmbHMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">On Clouds GmbH</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_OnCloudsGmbHMember" xlink:href="onholdingag-20260630.xsd#onholdingag_OnCloudsGmbHMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_OnCloudsGmbHMember" xlink:to="lab_onholdingag_OnCloudsGmbHMember" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_OnEuropeAGMember_019eeebf-a8dd-77bb-87bc-fb87205a64d3_terseLabel_en-US" xlink:label="lab_onholdingag_OnEuropeAGMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">On Europe AG</link:label>
    <link:label id="lab_onholdingag_OnEuropeAGMember_label_en-US" xlink:label="lab_onholdingag_OnEuropeAGMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">On Europe AG [Member]</link:label>
    <link:label id="lab_onholdingag_OnEuropeAGMember_documentation_en-US" xlink:label="lab_onholdingag_OnEuropeAGMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">On Europe AG</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_OnEuropeAGMember" xlink:href="onholdingag-20260630.xsd#onholdingag_OnEuropeAGMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_OnEuropeAGMember" xlink:to="lab_onholdingag_OnEuropeAGMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DeferredTaxAssets_019eeebf-a8dd-7611-901f-5e555a819fc4_netLabel_en-US" xlink:label="lab_ifrs-full_DeferredTaxAssets" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Deferred tax assets</link:label>
    <link:label id="lab_ifrs-full_DeferredTaxAssets_label_en-US" xlink:label="lab_ifrs-full_DeferredTaxAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DeferredTaxAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DeferredTaxAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DeferredTaxAssets" xlink:to="lab_ifrs-full_DeferredTaxAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_Inventories_019eeebf-a98c-7e50-8d93-ac82deee1c20_terseLabel_en-US" xlink:label="lab_ifrs-full_Inventories" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Inventories</link:label>
    <link:label id="lab_ifrs-full_Inventories_label_en-US" xlink:label="lab_ifrs-full_Inventories" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current inventories</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Inventories" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_Inventories"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_Inventories" xlink:to="lab_ifrs-full_Inventories" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_OnServicesUKLtdMember_019eeebf-a98c-7cdd-ae29-deff3261389f_terseLabel_en-US" xlink:label="lab_onholdingag_OnServicesUKLtdMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">On Services UK Ltd.</link:label>
    <link:label id="lab_onholdingag_OnServicesUKLtdMember_label_en-US" xlink:label="lab_onholdingag_OnServicesUKLtdMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">On Services UK Ltd [Member]</link:label>
    <link:label id="lab_onholdingag_OnServicesUKLtdMember_documentation_en-US" xlink:label="lab_onholdingag_OnServicesUKLtdMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">On Services UK Ltd</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_OnServicesUKLtdMember" xlink:href="onholdingag-20260630.xsd#onholdingag_OnServicesUKLtdMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_OnServicesUKLtdMember" xlink:to="lab_onholdingag_OnServicesUKLtdMember" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_TradeReceivablesPledgedAsSecurityForLiabilities_019eeebf-a98c-709d-ac66-6d45fac5855d_terseLabel_en-US" xlink:label="lab_onholdingag_TradeReceivablesPledgedAsSecurityForLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trade receivables</link:label>
    <link:label id="lab_onholdingag_TradeReceivablesPledgedAsSecurityForLiabilities_label_en-US" xlink:label="lab_onholdingag_TradeReceivablesPledgedAsSecurityForLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade Receivables Pledged As Security For Liabilities</link:label>
    <link:label id="lab_onholdingag_TradeReceivablesPledgedAsSecurityForLiabilities_documentation_en-US" xlink:label="lab_onholdingag_TradeReceivablesPledgedAsSecurityForLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Trade Receivables Pledged As Security For Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_TradeReceivablesPledgedAsSecurityForLiabilities" xlink:href="onholdingag-20260630.xsd#onholdingag_TradeReceivablesPledgedAsSecurityForLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_TradeReceivablesPledgedAsSecurityForLiabilities" xlink:to="lab_onholdingag_TradeReceivablesPledgedAsSecurityForLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_NumberOfEntities_019eeebf-a8dd-73b5-ab15-3cb4d505a09a_terseLabel_en-US" xlink:label="lab_onholdingag_NumberOfEntities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of entities</link:label>
    <link:label id="lab_onholdingag_NumberOfEntities_label_en-US" xlink:label="lab_onholdingag_NumberOfEntities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Entities</link:label>
    <link:label id="lab_onholdingag_NumberOfEntities_documentation_en-US" xlink:label="lab_onholdingag_NumberOfEntities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Entities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_NumberOfEntities" xlink:href="onholdingag-20260630.xsd#onholdingag_NumberOfEntities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_NumberOfEntities" xlink:to="lab_onholdingag_NumberOfEntities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_019eeebf-a98c-768f-8a25-17550c61bc04_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Social security payables</link:label>
    <link:label id="lab_ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_label_en-US" xlink:label="lab_ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current payables on social security and taxes other than income tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:to="lab_ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_PercentageOfEntitysRevenue_019eeebf-a98c-7545-a0e6-6552d333e421_terseLabel_en-US" xlink:label="lab_ifrs-full_PercentageOfEntitysRevenue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of entity's revenue</link:label>
    <link:label id="lab_ifrs-full_PercentageOfEntitysRevenue_label_en-US" xlink:label="lab_ifrs-full_PercentageOfEntitysRevenue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of entity's revenue</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PercentageOfEntitysRevenue" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_PercentageOfEntitysRevenue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PercentageOfEntitysRevenue" xlink:to="lab_ifrs-full_PercentageOfEntitysRevenue" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_DisclosureOfPastDueOrImpairedExplanatoryTextBlock_019eeebf-a8dd-7b33-a952-adbaf984f19d_terseLabel_en-US" xlink:label="lab_onholdingag_DisclosureOfPastDueOrImpairedExplanatoryTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Trade Receivables</link:label>
    <link:label id="lab_onholdingag_DisclosureOfPastDueOrImpairedExplanatoryTextBlock_label_en-US" xlink:label="lab_onholdingag_DisclosureOfPastDueOrImpairedExplanatoryTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Past Due Or Impaired Explanatory [Text Block]</link:label>
    <link:label id="lab_onholdingag_DisclosureOfPastDueOrImpairedExplanatoryTextBlock_documentation_en-US" xlink:label="lab_onholdingag_DisclosureOfPastDueOrImpairedExplanatoryTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure Of Past Due Or Impaired Explanatory</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_DisclosureOfPastDueOrImpairedExplanatoryTextBlock" xlink:href="onholdingag-20260630.xsd#onholdingag_DisclosureOfPastDueOrImpairedExplanatoryTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_DisclosureOfPastDueOrImpairedExplanatoryTextBlock" xlink:to="lab_onholdingag_DisclosureOfPastDueOrImpairedExplanatoryTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_AssetsCollateralizedSecurityTableTextBlock_019eeebf-a8dd-77ad-86b8-091f6367d560_terseLabel_en-US" xlink:label="lab_onholdingag_AssetsCollateralizedSecurityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Assets Pledged in Relation to Credit Facility</link:label>
    <link:label id="lab_onholdingag_AssetsCollateralizedSecurityTableTextBlock_label_en-US" xlink:label="lab_onholdingag_AssetsCollateralizedSecurityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets, Collateralized Security [Table Text Block]</link:label>
    <link:label id="lab_onholdingag_AssetsCollateralizedSecurityTableTextBlock_documentation_en-US" xlink:label="lab_onholdingag_AssetsCollateralizedSecurityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Assets, Collateralized Security</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_AssetsCollateralizedSecurityTableTextBlock" xlink:href="onholdingag-20260630.xsd#onholdingag_AssetsCollateralizedSecurityTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_AssetsCollateralizedSecurityTableTextBlock" xlink:to="lab_onholdingag_AssetsCollateralizedSecurityTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems_019eeebf-a8dd-7dc4-9902-904bef2c81e3_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of quantitative information about right-of-use assets [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of quantitative information about right-of-use assets [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems" xlink:to="lab_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_StatementOfChangesInEquityAbstract_label_en-US" xlink:label="lab_ifrs-full_StatementOfChangesInEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of changes in equity [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_StatementOfChangesInEquityAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_StatementOfChangesInEquityAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_StatementOfChangesInEquityAbstract" xlink:to="lab_ifrs-full_StatementOfChangesInEquityAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_IncreaseDecreaseInNumberOfSharesRollForward_019eeebf-a8dd-776a-84e1-7fdf3f05eca4_terseLabel_en-US" xlink:label="lab_onholdingag_IncreaseDecreaseInNumberOfSharesRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase (Decrease) In Number Of Shares [Roll Forward]</link:label>
    <link:label id="lab_onholdingag_IncreaseDecreaseInNumberOfSharesRollForward_label_en-US" xlink:label="lab_onholdingag_IncreaseDecreaseInNumberOfSharesRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) In Number Of Shares [Roll Forward]</link:label>
    <link:label id="lab_onholdingag_IncreaseDecreaseInNumberOfSharesRollForward_documentation_en-US" xlink:label="lab_onholdingag_IncreaseDecreaseInNumberOfSharesRollForward" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase (Decrease) In Number Of Shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_IncreaseDecreaseInNumberOfSharesRollForward" xlink:href="onholdingag-20260630.xsd#onholdingag_IncreaseDecreaseInNumberOfSharesRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_IncreaseDecreaseInNumberOfSharesRollForward" xlink:to="lab_onholdingag_IncreaseDecreaseInNumberOfSharesRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_RetainedEarnings_019eeebf-a98c-7470-a85b-e505b4b3ad16_terseLabel_en-US" xlink:label="lab_ifrs-full_RetainedEarnings" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Retained earnings</link:label>
    <link:label id="lab_ifrs-full_RetainedEarnings_label_en-US" xlink:label="lab_ifrs-full_RetainedEarnings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained earnings</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RetainedEarnings" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_RetainedEarnings"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RetainedEarnings" xlink:to="lab_ifrs-full_RetainedEarnings" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory_019eeebf-a98c-75f2-94b1-d71ea5f21198_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Corporate information</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory_019eeebf-a98c-78a3-a771-d7ed807180d9_verboseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">About the financials</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of basis of preparation of financial statements [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory" xlink:to="lab_ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentFiscalPeriodFocus_019eeebf-a8dd-78fd-abdd-a48744b59cbe_terseLabel_en-US" xlink:label="lab_dei_DocumentFiscalPeriodFocus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document fiscal period focus</link:label>
    <link:label id="lab_dei_DocumentFiscalPeriodFocus_label_en-US" xlink:label="lab_dei_DocumentFiscalPeriodFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentFiscalPeriodFocus" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentFiscalPeriodFocus"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentFiscalPeriodFocus" xlink:to="lab_dei_DocumentFiscalPeriodFocus" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_BalancesWithBanks_019eeebf-a8dd-7a01-92aa-ad7c192d8089_terseLabel_en-US" xlink:label="lab_ifrs-full_BalancesWithBanks" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current bank accounts</link:label>
    <link:label id="lab_ifrs-full_BalancesWithBanks_label_en-US" xlink:label="lab_ifrs-full_BalancesWithBanks" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Balances with banks</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_BalancesWithBanks" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_BalancesWithBanks"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_BalancesWithBanks" xlink:to="lab_ifrs-full_BalancesWithBanks" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_Assets_019eeebf-a98c-7b40-ab66-ab9cd5c01128_totalLabel_en-US" xlink:label="lab_ifrs-full_Assets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:label id="lab_ifrs-full_Assets_label_en-US" xlink:label="lab_ifrs-full_Assets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Assets" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_Assets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_Assets" xlink:to="lab_ifrs-full_Assets" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_TreasurySharesHeld_019eeebf-a8dd-76fe-8563-7e5a04f796d2_terseLabel_en-US" xlink:label="lab_onholdingag_TreasurySharesHeld" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Treasury shares held (in shares)</link:label>
    <link:label id="lab_onholdingag_TreasurySharesHeld_label_en-US" xlink:label="lab_onholdingag_TreasurySharesHeld" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Treasury Shares Held</link:label>
    <link:label id="lab_onholdingag_TreasurySharesHeld_documentation_en-US" xlink:label="lab_onholdingag_TreasurySharesHeld" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Treasury Shares Held</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_TreasurySharesHeld" xlink:href="onholdingag-20260630.xsd#onholdingag_TreasurySharesHeld"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_TreasurySharesHeld" xlink:to="lab_onholdingag_TreasurySharesHeld" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_LegalEntityAxis_019eeebf-a8dd-709e-80ea-58f379dd9aa2_terseLabel_en-US" xlink:label="lab_dei_LegalEntityAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Legal Entity [Axis]</link:label>
    <link:label id="lab_dei_LegalEntityAxis_label_en-US" xlink:label="lab_dei_LegalEntityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Legal Entity [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_LegalEntityAxis" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_LegalEntityAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_LegalEntityAxis" xlink:to="lab_dei_LegalEntityAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CostOfSalesMember_019eeebf-a98c-7218-9ed5-b4c5297c4be4_terseLabel_en-US" xlink:label="lab_ifrs-full_CostOfSalesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cost of sales</link:label>
    <link:label id="lab_ifrs-full_CostOfSalesMember_label_en-US" xlink:label="lab_ifrs-full_CostOfSalesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cost of sales [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CostOfSalesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CostOfSalesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CostOfSalesMember" xlink:to="lab_ifrs-full_CostOfSalesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_SignificantInvestmentsInSubsidiariesAxis_019eeebf-a8dd-76a7-9764-10ff4a99248e_terseLabel_en-US" xlink:label="lab_ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsidiaries [axis]</link:label>
    <link:label id="lab_ifrs-full_SignificantInvestmentsInSubsidiariesAxis_label_en-US" xlink:label="lab_ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsidiaries [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="lab_ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfFinancialLiabilitiesTable_019eeebf-a98d-7727-a850-38eb479b31ff_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialLiabilitiesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of financial liabilities [table]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfFinancialLiabilitiesTable_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialLiabilitiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of financial liabilities [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfFinancialLiabilitiesTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfFinancialLiabilitiesTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfFinancialLiabilitiesTable" xlink:to="lab_ifrs-full_DisclosureOfFinancialLiabilitiesTable" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_OtherNonCurrentFinancialLiabilitiesUndiscountedCashFlows_019eeebf-a8dd-7c38-8bc1-4ac6d57b5563_totalLabel_en-US" xlink:label="lab_onholdingag_OtherNonCurrentFinancialLiabilitiesUndiscountedCashFlows" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Other non-current financial liabilities</link:label>
    <link:label id="lab_onholdingag_OtherNonCurrentFinancialLiabilitiesUndiscountedCashFlows_label_en-US" xlink:label="lab_onholdingag_OtherNonCurrentFinancialLiabilitiesUndiscountedCashFlows" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Non-Current Financial Liabilities, Undiscounted Cash Flows</link:label>
    <link:label id="lab_onholdingag_OtherNonCurrentFinancialLiabilitiesUndiscountedCashFlows_documentation_en-US" xlink:label="lab_onholdingag_OtherNonCurrentFinancialLiabilitiesUndiscountedCashFlows" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Non-Current Financial Liabilities, Undiscounted Cash Flows</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_OtherNonCurrentFinancialLiabilitiesUndiscountedCashFlows" xlink:href="onholdingag-20260630.xsd#onholdingag_OtherNonCurrentFinancialLiabilitiesUndiscountedCashFlows"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_OtherNonCurrentFinancialLiabilitiesUndiscountedCashFlows" xlink:to="lab_onholdingag_OtherNonCurrentFinancialLiabilitiesUndiscountedCashFlows" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_OnExperience2331LLCMember_019f5bae-e344-7a2f-8416-2d34384c6db1_terseLabel_en-US" xlink:label="lab_onholdingag_OnExperience2331LLCMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">On Experience 23 - 31, LLC</link:label>
    <link:label id="lab_onholdingag_OnExperience2331LLCMember_label_en-US" xlink:label="lab_onholdingag_OnExperience2331LLCMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">On Experience 23 - 31, LLC [Member]</link:label>
    <link:label id="lab_onholdingag_OnExperience2331LLCMember_documentation_en-US" xlink:label="lab_onholdingag_OnExperience2331LLCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">On Experience 23 - 31 LLC</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_OnExperience2331LLCMember" xlink:href="onholdingag-20260630.xsd#onholdingag_OnExperience2331LLCMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_OnExperience2331LLCMember" xlink:to="lab_onholdingag_OnExperience2331LLCMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IssuedCapitalMember_019eeebf-a98c-728a-b090-307421e717ca_terseLabel_en-US" xlink:label="lab_ifrs-full_IssuedCapitalMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share capital</link:label>
    <link:label id="lab_ifrs-full_IssuedCapitalMember_label_en-US" xlink:label="lab_ifrs-full_IssuedCapitalMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Issued capital [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IssuedCapitalMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_IssuedCapitalMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IssuedCapitalMember" xlink:to="lab_ifrs-full_IssuedCapitalMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_GeographicalAreasAxis_019eeebf-a98c-76e9-af9c-84adb4ddf459_terseLabel_en-US" xlink:label="lab_ifrs-full_GeographicalAreasAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Geographical areas [axis]</link:label>
    <link:label id="lab_ifrs-full_GeographicalAreasAxis_label_en-US" xlink:label="lab_ifrs-full_GeographicalAreasAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographical areas [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GeographicalAreasAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_GeographicalAreasAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_GeographicalAreasAxis" xlink:to="lab_ifrs-full_GeographicalAreasAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_RestrictedCashAndCashEquivalents_019eeebf-a8dd-74ec-836f-260ca0c8e340_terseLabel_en-US" xlink:label="lab_ifrs-full_RestrictedCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted cash and cash equivalents</link:label>
    <link:label id="lab_ifrs-full_RestrictedCashAndCashEquivalents_label_en-US" xlink:label="lab_ifrs-full_RestrictedCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restricted cash and cash equivalents</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RestrictedCashAndCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_RestrictedCashAndCashEquivalents"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RestrictedCashAndCashEquivalents" xlink:to="lab_ifrs-full_RestrictedCashAndCashEquivalents" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ClassesOfOtherProvisionsDomain_019eeebf-a98d-7dc3-9e49-7ed182717a7d_terseLabel_en-US" xlink:label="lab_ifrs-full_ClassesOfOtherProvisionsDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of other provisions</link:label>
    <link:label id="lab_ifrs-full_ClassesOfOtherProvisionsDomain_label_en-US" xlink:label="lab_ifrs-full_ClassesOfOtherProvisionsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of other provisions [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ClassesOfOtherProvisionsDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ClassesOfOtherProvisionsDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ClassesOfOtherProvisionsDomain" xlink:to="lab_ifrs-full_ClassesOfOtherProvisionsDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherReservesMember_019eeebf-a98c-71ea-b27b-749b79d42638_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherReservesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other reserves</link:label>
    <link:label id="lab_ifrs-full_OtherReservesMember_label_en-US" xlink:label="lab_ifrs-full_OtherReservesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other reserves [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherReservesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OtherReservesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherReservesMember" xlink:to="lab_ifrs-full_OtherReservesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NoncurrentLeaseLiabilities_019eeebf-a8dd-7e95-9aac-505da5368d9b_terseLabel_en-US" xlink:label="lab_ifrs-full_NoncurrentLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-current lease liabilities</link:label>
    <link:label id="lab_ifrs-full_NoncurrentLeaseLiabilities_label_en-US" xlink:label="lab_ifrs-full_NoncurrentLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-current lease liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncurrentLeaseLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_NoncurrentLeaseLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NoncurrentLeaseLiabilities" xlink:to="lab_ifrs-full_NoncurrentLeaseLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsTable_019eeebf-a98c-7013-9af1-07fe3c988e3c_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of quantitative information about right-of-use assets [table]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsTable_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of quantitative information about right-of-use assets [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsTable" xlink:to="lab_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_SellingGeneralAndAdministrativeExpenseMember_019eeebf-a98c-7c4e-adfe-3a99fbe468ae_terseLabel_en-US" xlink:label="lab_ifrs-full_SellingGeneralAndAdministrativeExpenseMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Selling, general and administrative expense</link:label>
    <link:label id="lab_ifrs-full_SellingGeneralAndAdministrativeExpenseMember_label_en-US" xlink:label="lab_ifrs-full_SellingGeneralAndAdministrativeExpenseMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Selling, general and administrative expense [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_SellingGeneralAndAdministrativeExpenseMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_SellingGeneralAndAdministrativeExpenseMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_SellingGeneralAndAdministrativeExpenseMember" xlink:to="lab_ifrs-full_SellingGeneralAndAdministrativeExpenseMember" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_OnOceaniaPtyLtdMember_019eeebf-a98c-7cd3-9ede-13d84f73696f_terseLabel_en-US" xlink:label="lab_onholdingag_OnOceaniaPtyLtdMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">On Oceania Pty Ltd.</link:label>
    <link:label id="lab_onholdingag_OnOceaniaPtyLtdMember_label_en-US" xlink:label="lab_onholdingag_OnOceaniaPtyLtdMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">On Oceania Pty Ltd. [Member]</link:label>
    <link:label id="lab_onholdingag_OnOceaniaPtyLtdMember_documentation_en-US" xlink:label="lab_onholdingag_OnOceaniaPtyLtdMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">On Oceania Pty Ltd.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_OnOceaniaPtyLtdMember" xlink:href="onholdingag-20260630.xsd#onholdingag_OnOceaniaPtyLtdMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_OnOceaniaPtyLtdMember" xlink:to="lab_onholdingag_OnOceaniaPtyLtdMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfRevenueFromContractsWithCustomersExplanatory_019eeebf-a8dd-7bfd-8c96-4e58c0452b45_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfRevenueFromContractsWithCustomersExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net sales</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfRevenueFromContractsWithCustomersExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfRevenueFromContractsWithCustomersExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of revenue from contracts with customers [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfRevenueFromContractsWithCustomersExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfRevenueFromContractsWithCustomersExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfRevenueFromContractsWithCustomersExplanatory" xlink:to="lab_ifrs-full_DisclosureOfRevenueFromContractsWithCustomersExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_StatutoryReserveMember_019eeebf-a8dd-7d4b-ac79-e7e9fcfb5aab_terseLabel_en-US" xlink:label="lab_ifrs-full_StatutoryReserveMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Legal reserves</link:label>
    <link:label id="lab_ifrs-full_StatutoryReserveMember_label_en-US" xlink:label="lab_ifrs-full_StatutoryReserveMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statutory reserve [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_StatutoryReserveMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_StatutoryReserveMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_StatutoryReserveMember" xlink:to="lab_ifrs-full_StatutoryReserveMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashAndCashEquivalents_019eeebf-a8dd-765e-b32e-dc278cbe6e98_terseLabel_en-US" xlink:label="lab_ifrs-full_CashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:label id="lab_ifrs-full_CashAndCashEquivalents_019eeebf-a8dd-7f79-8bd7-91dbaba08466_totalLabel_en-US" xlink:label="lab_ifrs-full_CashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:label id="lab_ifrs-full_CashAndCashEquivalents_label_en-US" xlink:label="lab_ifrs-full_CashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashAndCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CashAndCashEquivalents"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashAndCashEquivalents" xlink:to="lab_ifrs-full_CashAndCashEquivalents" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsAbstract_019eeebf-a98c-7ab1-bb50-374e852243a9_terseLabel_en-US" xlink:label="lab_ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of expected impact of initial application of new standards or interpretations [abstract]</link:label>
    <link:label id="lab_ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsAbstract_label_en-US" xlink:label="lab_ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of expected impact of initial application of new standards or interpretations [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsAbstract" xlink:to="lab_ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisposalsPropertyPlantAndEquipment_019eeebf-a8dd-7422-b4a4-be55a6ffa0e5_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_DisposalsPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Disposals</link:label>
    <link:label id="lab_ifrs-full_DisposalsPropertyPlantAndEquipment_label_en-US" xlink:label="lab_ifrs-full_DisposalsPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disposals, property, plant and equipment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisposalsPropertyPlantAndEquipment" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisposalsPropertyPlantAndEquipment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisposalsPropertyPlantAndEquipment" xlink:to="lab_ifrs-full_DisposalsPropertyPlantAndEquipment" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfAmountsToBeRecoveredOrSettledAfterTwelveMonthsForClassesOfAssetsAndLiabilitiesThatContainAmountsToBeRecoveredOrSettledBothNoMoreAndMoreThanTwelveMonthsAfterReportingDateLineItems_019eeebf-a98c-741b-a873-2b9d7c278967_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfAmountsToBeRecoveredOrSettledAfterTwelveMonthsForClassesOfAssetsAndLiabilitiesThatContainAmountsToBeRecoveredOrSettledBothNoMoreAndMoreThanTwelveMonthsAfterReportingDateLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfAmountsToBeRecoveredOrSettledAfterTwelveMonthsForClassesOfAssetsAndLiabilitiesThatContainAmountsToBeRecoveredOrSettledBothNoMoreAndMoreThanTwelveMonthsAfterReportingDateLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfAmountsToBeRecoveredOrSettledAfterTwelveMonthsForClassesOfAssetsAndLiabilitiesThatContainAmountsToBeRecoveredOrSettledBothNoMoreAndMoreThanTwelveMonthsAfterReportingDateLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfAmountsToBeRecoveredOrSettledAfterTwelveMonthsForClassesOfAssetsAndLiabilitiesThatContainAmountsToBeRecoveredOrSettledBothNoMoreAndMoreThanTwelveMonthsAfterReportingDateLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfAmountsToBeRecoveredOrSettledAfterTwelveMonthsForClassesOfAssetsAndLiabilitiesThatContainAmountsToBeRecoveredOrSettledBothNoMoreAndMoreThanTwelveMonthsAfterReportingDateLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfAmountsToBeRecoveredOrSettledAfterTwelveMonthsForClassesOfAssetsAndLiabilitiesThatContainAmountsToBeRecoveredOrSettledBothNoMoreAndMoreThanTwelveMonthsAfterReportingDateLineItems" xlink:to="lab_ifrs-full_DisclosureOfAmountsToBeRecoveredOrSettledAfterTwelveMonthsForClassesOfAssetsAndLiabilitiesThatContainAmountsToBeRecoveredOrSettledBothNoMoreAndMoreThanTwelveMonthsAfterReportingDateLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentPrepaidExpenses_019eeebf-a8dd-70c5-923c-4d5db39d891f_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentPrepaidExpenses" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prepaid expenses</link:label>
    <link:label id="lab_ifrs-full_CurrentPrepaidExpenses_label_en-US" xlink:label="lab_ifrs-full_CurrentPrepaidExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current prepaid expenses</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentPrepaidExpenses" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CurrentPrepaidExpenses"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentPrepaidExpenses" xlink:to="lab_ifrs-full_CurrentPrepaidExpenses" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentInformationTable_019eeebf-a8dd-7b7e-93fa-fc44c0964653_terseLabel_en-US" xlink:label="lab_dei_DocumentInformationTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Information [Table]</link:label>
    <link:label id="lab_dei_DocumentInformationTable_label_en-US" xlink:label="lab_dei_DocumentInformationTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Information [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentInformationTable" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentInformationTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentInformationTable" xlink:to="lab_dei_DocumentInformationTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember_019eeebf-a98c-7642-af9f-8720500e7a56_terseLabel_en-US" xlink:label="lab_ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Due 4 to 12 months</link:label>
    <link:label id="lab_ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember_label_en-US" xlink:label="lab_ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than three months and not later than one year [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember" xlink:to="lab_ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_EquityAndLiabilities_019eeebf-a98c-76f9-8faf-9bb2c4ae2bec_totalLabel_en-US" xlink:label="lab_ifrs-full_EquityAndLiabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Equity and liabilities</link:label>
    <link:label id="lab_ifrs-full_EquityAndLiabilities_label_en-US" xlink:label="lab_ifrs-full_EquityAndLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity and liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EquityAndLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_EquityAndLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EquityAndLiabilities" xlink:to="lab_ifrs-full_EquityAndLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions_019eeebf-a8dd-75c1-9738-054edb99881f_terseLabel_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exchange differences</link:label>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions_label_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) through net exchange differences, other provisions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions"/>
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    <link:label id="lab_onholdingag_CustomerRefundLiabilitiesReturnsMember_019eeebf-a98c-751f-920a-35a2fbf9164a_terseLabel_en-US" xlink:label="lab_onholdingag_CustomerRefundLiabilitiesReturnsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Customer refund liability returns</link:label>
    <link:label id="lab_onholdingag_CustomerRefundLiabilitiesReturnsMember_label_en-US" xlink:label="lab_onholdingag_CustomerRefundLiabilitiesReturnsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Customer Refund Liabilities Returns [Member]</link:label>
    <link:label id="lab_onholdingag_CustomerRefundLiabilitiesReturnsMember_documentation_en-US" xlink:label="lab_onholdingag_CustomerRefundLiabilitiesReturnsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other, Customer Refund Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_CustomerRefundLiabilitiesReturnsMember" xlink:href="onholdingag-20260630.xsd#onholdingag_CustomerRefundLiabilitiesReturnsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_CustomerRefundLiabilitiesReturnsMember" xlink:to="lab_onholdingag_CustomerRefundLiabilitiesReturnsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_DisclosureOfDetailedInformationAboutReservesWithinEquityTableTextBlock_019eeebf-a98c-7de5-810b-29f921431a65_terseLabel_en-US" xlink:label="lab_onholdingag_DisclosureOfDetailedInformationAboutReservesWithinEquityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Reserves Within Equity</link:label>
    <link:label id="lab_onholdingag_DisclosureOfDetailedInformationAboutReservesWithinEquityTableTextBlock_label_en-US" xlink:label="lab_onholdingag_DisclosureOfDetailedInformationAboutReservesWithinEquityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Detailed Information About Reserves Within Equity [Table Text Block]</link:label>
    <link:label id="lab_onholdingag_DisclosureOfDetailedInformationAboutReservesWithinEquityTableTextBlock_documentation_en-US" xlink:label="lab_onholdingag_DisclosureOfDetailedInformationAboutReservesWithinEquityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure Of Detailed Information About Reserves Within Equity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_DisclosureOfDetailedInformationAboutReservesWithinEquityTableTextBlock" xlink:href="onholdingag-20260630.xsd#onholdingag_DisclosureOfDetailedInformationAboutReservesWithinEquityTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_DisclosureOfDetailedInformationAboutReservesWithinEquityTableTextBlock" xlink:to="lab_onholdingag_DisclosureOfDetailedInformationAboutReservesWithinEquityTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfReservesWithinEquityTable_019eeebf-a98c-7971-87fc-8bfa9ed1f94c_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfReservesWithinEquityTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of reserves within equity [table]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfReservesWithinEquityTable_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfReservesWithinEquityTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of reserves within equity [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfReservesWithinEquityTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfReservesWithinEquityTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfReservesWithinEquityTable" xlink:to="lab_ifrs-full_DisclosureOfReservesWithinEquityTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_GeneralAndAdministrativeExpense_019eeebf-a8dd-7c22-b4f5-222e3b4e0e2c_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">General and administrative expenses</link:label>
    <link:label id="lab_ifrs-full_GeneralAndAdministrativeExpense_label_en-US" xlink:label="lab_ifrs-full_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">General and administrative expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GeneralAndAdministrativeExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_GeneralAndAdministrativeExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_GeneralAndAdministrativeExpense" xlink:to="lab_ifrs-full_GeneralAndAdministrativeExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfIncomeTaxExplanatory_019eeebf-a8dd-7659-bf7b-997589b2b64c_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income taxes</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfIncomeTaxExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of income tax [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfIncomeTaxExplanatory"/>
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    <link:label id="lab_dei_DocumentInformationLineItems_019eeebf-a98d-7ae6-a8b8-4bf172be60a1_terseLabel_en-US" xlink:label="lab_dei_DocumentInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Information [Line Items]</link:label>
    <link:label id="lab_dei_DocumentInformationLineItems_label_en-US" xlink:label="lab_dei_DocumentInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Information [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentInformationLineItems" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentInformationLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentInformationLineItems" xlink:to="lab_dei_DocumentInformationLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_PropertyPlantAndEquipmentExpendituresRecognisedForConstructions_019eeebf-a98c-7f5e-8287-6bf824bcc33b_terseLabel_en-US" xlink:label="lab_ifrs-full_PropertyPlantAndEquipmentExpendituresRecognisedForConstructions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other, fixed assets not yet in use</link:label>
    <link:label id="lab_ifrs-full_PropertyPlantAndEquipmentExpendituresRecognisedForConstructions_label_en-US" xlink:label="lab_ifrs-full_PropertyPlantAndEquipmentExpendituresRecognisedForConstructions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, plant and equipment, expenditures recognised in course of its construction</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PropertyPlantAndEquipmentExpendituresRecognisedForConstructions" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_PropertyPlantAndEquipmentExpendituresRecognisedForConstructions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PropertyPlantAndEquipmentExpendituresRecognisedForConstructions" xlink:to="lab_ifrs-full_PropertyPlantAndEquipmentExpendituresRecognisedForConstructions" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DepreciationExpense_019eeebf-a8dd-774e-a92f-019184a74701_terseLabel_en-US" xlink:label="lab_ifrs-full_DepreciationExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation expense</link:label>
    <link:label id="lab_ifrs-full_DepreciationExpense_label_en-US" xlink:label="lab_ifrs-full_DepreciationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DepreciationExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DepreciationExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DepreciationExpense" xlink:to="lab_ifrs-full_DepreciationExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfAttributionOfExpensesByNatureToTheirFunctionTable_019eeebf-a8dd-7571-bce5-b5790b8ed150_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfAttributionOfExpensesByNatureToTheirFunctionTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of attribution of expenses by nature to their function [table]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfAttributionOfExpensesByNatureToTheirFunctionTable_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfAttributionOfExpensesByNatureToTheirFunctionTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of attribution of expenses by nature to their function [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfAttributionOfExpensesByNatureToTheirFunctionTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfAttributionOfExpensesByNatureToTheirFunctionTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfAttributionOfExpensesByNatureToTheirFunctionTable" xlink:to="lab_ifrs-full_DisclosureOfAttributionOfExpensesByNatureToTheirFunctionTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_MaturityAnalysisForNonderivativeFinancialLiabilities_019eeebf-a8dd-7eae-af1e-9f0827f731f0_verboseLabel_en-US" xlink:label="lab_ifrs-full_MaturityAnalysisForNonderivativeFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Contractual Obligation of Leases</link:label>
    <link:label id="lab_ifrs-full_MaturityAnalysisForNonderivativeFinancialLiabilities_label_en-US" xlink:label="lab_ifrs-full_MaturityAnalysisForNonderivativeFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of maturity analysis for non-derivative financial liabilities [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_MaturityAnalysisForNonderivativeFinancialLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_MaturityAnalysisForNonderivativeFinancialLiabilities"/>
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    <link:label id="lab_ifrs-full_InterestPaidClassifiedAsFinancingActivities_019eeebf-a8dd-7bd3-b61b-924a5598458b_negatedLabel_en-US" xlink:label="lab_ifrs-full_InterestPaidClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Interest paid</link:label>
    <link:label id="lab_ifrs-full_InterestPaidClassifiedAsFinancingActivities_label_en-US" xlink:label="lab_ifrs-full_InterestPaidClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest paid, classified as financing activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_InterestPaidClassifiedAsFinancingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_InterestPaidClassifiedAsFinancingActivities"/>
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    <link:label id="lab_ifrs-full_ShorttermEmployeeBenefitsAccruals_019eeebf-a98d-70de-bf0b-e6e3499bcb24_terseLabel_en-US" xlink:label="lab_ifrs-full_ShorttermEmployeeBenefitsAccruals" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued personnel expenses</link:label>
    <link:label id="lab_ifrs-full_ShorttermEmployeeBenefitsAccruals_label_en-US" xlink:label="lab_ifrs-full_ShorttermEmployeeBenefitsAccruals" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Short-term employee benefits accruals</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ShorttermEmployeeBenefitsAccruals" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ShorttermEmployeeBenefitsAccruals"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ShorttermEmployeeBenefitsAccruals" xlink:to="lab_ifrs-full_ShorttermEmployeeBenefitsAccruals" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_OtherNonCurrentFinancialLiabilitiesGross_019eeebf-a8dd-7ca0-a465-543dcf3d48f6_terseLabel_en-US" xlink:label="lab_onholdingag_OtherNonCurrentFinancialLiabilitiesGross" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other non-current financial liabilities</link:label>
    <link:label id="lab_onholdingag_OtherNonCurrentFinancialLiabilitiesGross_label_en-US" xlink:label="lab_onholdingag_OtherNonCurrentFinancialLiabilitiesGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Non-Current Financial Liabilities, Gross</link:label>
    <link:label id="lab_onholdingag_OtherNonCurrentFinancialLiabilitiesGross_documentation_en-US" xlink:label="lab_onholdingag_OtherNonCurrentFinancialLiabilitiesGross" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Non-Current Financial Liabilities, Gross</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_OtherNonCurrentFinancialLiabilitiesGross" xlink:href="onholdingag-20260630.xsd#onholdingag_OtherNonCurrentFinancialLiabilitiesGross"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_OtherNonCurrentFinancialLiabilitiesGross" xlink:to="lab_onholdingag_OtherNonCurrentFinancialLiabilitiesGross" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ComputerSoftwareMember_019eeebf-a98c-7d1b-9c47-dcaf19459a45_terseLabel_en-US" xlink:label="lab_ifrs-full_ComputerSoftwareMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Software</link:label>
    <link:label id="lab_ifrs-full_ComputerSoftwareMember_label_en-US" xlink:label="lab_ifrs-full_ComputerSoftwareMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Computer software [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ComputerSoftwareMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ComputerSoftwareMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ComputerSoftwareMember" xlink:to="lab_ifrs-full_ComputerSoftwareMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ReserveOfSharebasedPaymentsMember_019eeebf-aa07-793a-98aa-dce18bff96e4_terseLabel_en-US" xlink:label="lab_ifrs-full_ReserveOfSharebasedPaymentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based compensation</link:label>
    <link:label id="lab_ifrs-full_ReserveOfSharebasedPaymentsMember_label_en-US" xlink:label="lab_ifrs-full_ReserveOfSharebasedPaymentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reserve of share-based payments [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ReserveOfSharebasedPaymentsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ReserveOfSharebasedPaymentsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ReserveOfSharebasedPaymentsMember" xlink:to="lab_ifrs-full_ReserveOfSharebasedPaymentsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_ShareCapitalPaidInPercentage_019eeebf-a98d-7602-87b1-32874a576bb3_terseLabel_en-US" xlink:label="lab_onholdingag_ShareCapitalPaidInPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share capital, paid-in percentage</link:label>
    <link:label id="lab_onholdingag_ShareCapitalPaidInPercentage_label_en-US" xlink:label="lab_onholdingag_ShareCapitalPaidInPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Capital, Paid-In Percentage</link:label>
    <link:label id="lab_onholdingag_ShareCapitalPaidInPercentage_documentation_en-US" xlink:label="lab_onholdingag_ShareCapitalPaidInPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Share Capital, Paid-In Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_ShareCapitalPaidInPercentage" xlink:href="onholdingag-20260630.xsd#onholdingag_ShareCapitalPaidInPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_ShareCapitalPaidInPercentage" xlink:to="lab_onholdingag_ShareCapitalPaidInPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_LaterThanFiveYearsMember_019eeebf-a98c-7431-9b46-a1678ef1500f_terseLabel_en-US" xlink:label="lab_ifrs-full_LaterThanFiveYearsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Due &gt; 5 years</link:label>
    <link:label id="lab_ifrs-full_LaterThanFiveYearsMember_label_en-US" xlink:label="lab_ifrs-full_LaterThanFiveYearsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than five years [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LaterThanFiveYearsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_LaterThanFiveYearsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_LaterThanFiveYearsMember" xlink:to="lab_ifrs-full_LaterThanFiveYearsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ClassesOfFinancialAssetsDomain_019eeebf-a8dd-739f-b670-cd34ec9c7f94_terseLabel_en-US" xlink:label="lab_ifrs-full_ClassesOfFinancialAssetsDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of financial assets [domain]</link:label>
    <link:label id="lab_ifrs-full_ClassesOfFinancialAssetsDomain_label_en-US" xlink:label="lab_ifrs-full_ClassesOfFinancialAssetsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of financial assets [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ClassesOfFinancialAssetsDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ClassesOfFinancialAssetsDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ClassesOfFinancialAssetsDomain" xlink:to="lab_ifrs-full_ClassesOfFinancialAssetsDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentValueAddedTaxReceivables_019eeebf-a98c-761f-9d8e-1792a6ed1417_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentValueAddedTaxReceivables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Indirect taxes (VAT/GST) receivables</link:label>
    <link:label id="lab_ifrs-full_CurrentValueAddedTaxReceivables_label_en-US" xlink:label="lab_ifrs-full_CurrentValueAddedTaxReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current value added tax receivables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentValueAddedTaxReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CurrentValueAddedTaxReceivables"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentValueAddedTaxReceivables" xlink:to="lab_ifrs-full_CurrentValueAddedTaxReceivables" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherCurrentNonfinancialAssets_019eeebf-a98c-7881-9a43-5b7988d8c0cd_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherCurrentNonfinancialAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other current operating assets</link:label>
    <link:label id="lab_ifrs-full_OtherCurrentNonfinancialAssets_019eeebf-a98c-7ff5-9078-f5bdc1ca685b_totalLabel_en-US" xlink:label="lab_ifrs-full_OtherCurrentNonfinancialAssets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Other current operating assets</link:label>
    <link:label id="lab_ifrs-full_OtherCurrentNonfinancialAssets_label_en-US" xlink:label="lab_ifrs-full_OtherCurrentNonfinancialAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other current non-financial assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherCurrentNonfinancialAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OtherCurrentNonfinancialAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherCurrentNonfinancialAssets" xlink:to="lab_ifrs-full_OtherCurrentNonfinancialAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_InterestExpenseOnLeaseLiabilities_019eeebf-a98c-7939-a763-f7ccad7c6de9_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_InterestExpenseOnLeaseLiabilities" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Interest expenses leases</link:label>
    <link:label id="lab_ifrs-full_InterestExpenseOnLeaseLiabilities_label_en-US" xlink:label="lab_ifrs-full_InterestExpenseOnLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest expense on lease liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_InterestExpenseOnLeaseLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_InterestExpenseOnLeaseLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_InterestExpenseOnLeaseLiabilities" xlink:to="lab_ifrs-full_InterestExpenseOnLeaseLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DistributionCosts_019eeebf-a8dd-711e-b0af-b59b66d2d422_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_DistributionCosts" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Distribution expenses</link:label>
    <link:label id="lab_ifrs-full_DistributionCosts_label_en-US" xlink:label="lab_ifrs-full_DistributionCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Distribution costs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DistributionCosts" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DistributionCosts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DistributionCosts" xlink:to="lab_ifrs-full_DistributionCosts" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions_019eeebf-a8dd-7eff-a83f-4dde42ce50c5_terseLabel_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based compensation</link:label>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions_label_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) through share-based payment transactions, equity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:to="lab_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfClassesOfShareCapitalTable_019eeebf-a98c-7e20-beea-351a2936d974_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of classes of share capital [table]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfClassesOfShareCapitalTable_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of classes of share capital [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:to="lab_ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NoncurrentAssets_019eeebf-a8dd-7e13-9ca3-d5a259f5b866_totalLabel_en-US" xlink:label="lab_ifrs-full_NoncurrentAssets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Non-current assets</link:label>
    <link:label id="lab_ifrs-full_NoncurrentAssets_label_en-US" xlink:label="lab_ifrs-full_NoncurrentAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-current assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncurrentAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_NoncurrentAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NoncurrentAssets" xlink:to="lab_ifrs-full_NoncurrentAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_BrunnerMettlerGmbHMember_019eeebf-a98c-720b-85d5-e6f65fa0a824_terseLabel_en-US" xlink:label="lab_onholdingag_BrunnerMettlerGmbHMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Brunner Mettler GmbH</link:label>
    <link:label id="lab_onholdingag_BrunnerMettlerGmbHMember_label_en-US" xlink:label="lab_onholdingag_BrunnerMettlerGmbHMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Brunner Mettler GmbH [Member]</link:label>
    <link:label id="lab_onholdingag_BrunnerMettlerGmbHMember_documentation_en-US" xlink:label="lab_onholdingag_BrunnerMettlerGmbHMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Brunner Mettler GmbH</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_BrunnerMettlerGmbHMember" xlink:href="onholdingag-20260630.xsd#onholdingag_BrunnerMettlerGmbHMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_BrunnerMettlerGmbHMember" xlink:to="lab_onholdingag_BrunnerMettlerGmbHMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis_019eeebf-a98c-70b1-a714-f97489e19f06_terseLabel_en-US" xlink:label="lab_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of property, plant and equipment [axis]</link:label>
    <link:label id="lab_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis_label_en-US" xlink:label="lab_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of property, plant and equipment [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="lab_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_AccessoriesMember_019eeebf-a8dd-7ec6-a7b4-d47f954f73f4_terseLabel_en-US" xlink:label="lab_onholdingag_AccessoriesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accessories</link:label>
    <link:label id="lab_onholdingag_AccessoriesMember_label_en-US" xlink:label="lab_onholdingag_AccessoriesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accessories [Member]</link:label>
    <link:label id="lab_onholdingag_AccessoriesMember_documentation_en-US" xlink:label="lab_onholdingag_AccessoriesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accessories</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_AccessoriesMember" xlink:href="onholdingag-20260630.xsd#onholdingag_AccessoriesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_AccessoriesMember" xlink:to="lab_onholdingag_AccessoriesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_019eeebf-a8dd-718b-8fbb-802a8a22cc07_terseLabel_en-US" xlink:label="lab_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign exchange gain / (loss)</link:label>
    <link:label id="lab_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_label_en-US" xlink:label="lab_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign exchange gain (loss)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:to="lab_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems_019eeebf-a98c-7f6d-91fd-917f2a1c012b_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of disaggregation of revenue from contracts with customers [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of disaggregation of revenue from contracts with customers [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems" xlink:to="lab_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ClassesOfPropertyPlantAndEquipmentDomain_019eeebf-a8dd-726b-b2e5-e0791cd108bc_terseLabel_en-US" xlink:label="lab_ifrs-full_ClassesOfPropertyPlantAndEquipmentDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of property, plant and equipment [domain]</link:label>
    <link:label id="lab_ifrs-full_ClassesOfPropertyPlantAndEquipmentDomain_label_en-US" xlink:label="lab_ifrs-full_ClassesOfPropertyPlantAndEquipmentDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of property, plant and equipment [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ClassesOfPropertyPlantAndEquipmentDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ClassesOfPropertyPlantAndEquipmentDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ClassesOfPropertyPlantAndEquipmentDomain" xlink:to="lab_ifrs-full_ClassesOfPropertyPlantAndEquipmentDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock_019eeebf-a8dd-74cd-9fa8-25c195ea9d03_terseLabel_en-US" xlink:label="lab_srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Contractual Maturities</link:label>
    <link:label id="lab_srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock_label_en-US" xlink:label="lab_srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contractual Obligation, Fiscal Year Maturity [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock" xlink:to="lab_srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory_019eeebf-a8dd-7373-b529-1072e0ef5a39_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trade receivables</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of trade and other receivables [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory" xlink:to="lab_ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract_019eeebf-a98c-7324-af2d-0637f3f0027d_terseLabel_en-US" xlink:label="lab_ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reconciliation of changes in intangible assets other than goodwill [abstract]</link:label>
    <link:label id="lab_ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract_label_en-US" xlink:label="lab_ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reconciliation of changes in intangible assets other than goodwill [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract" xlink:to="lab_ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherCurrentFinancialAssets_019eeebf-a98c-7a9e-8734-8ee519441f89_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherCurrentFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other current financial assets</link:label>
    <link:label id="lab_ifrs-full_OtherCurrentFinancialAssets_label_en-US" xlink:label="lab_ifrs-full_OtherCurrentFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other current financial assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherCurrentFinancialAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OtherCurrentFinancialAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherCurrentFinancialAssets" xlink:to="lab_ifrs-full_OtherCurrentFinancialAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_OnJapanKKMember_019eeebf-a8dd-775f-a9ff-1247ca44db61_terseLabel_en-US" xlink:label="lab_onholdingag_OnJapanKKMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">On Japan K.K.</link:label>
    <link:label id="lab_onholdingag_OnJapanKKMember_label_en-US" xlink:label="lab_onholdingag_OnJapanKKMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">On Japan K.K. [Member]</link:label>
    <link:label id="lab_onholdingag_OnJapanKKMember_documentation_en-US" xlink:label="lab_onholdingag_OnJapanKKMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">On Japan K.K.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_OnJapanKKMember" xlink:href="onholdingag-20260630.xsd#onholdingag_OnJapanKKMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_OnJapanKKMember" xlink:to="lab_onholdingag_OnJapanKKMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_GoodwillMember_019eeebf-a98c-7804-95fa-6dc9e00a56f9_terseLabel_en-US" xlink:label="lab_ifrs-full_GoodwillMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Goodwill</link:label>
    <link:label id="lab_ifrs-full_GoodwillMember_label_en-US" xlink:label="lab_ifrs-full_GoodwillMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goodwill [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GoodwillMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_GoodwillMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_GoodwillMember" xlink:to="lab_ifrs-full_GoodwillMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_019eeebf-a8dd-7b10-9a63-a73b0f8320be_terseLabel_en-US" xlink:label="lab_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net impact of foreign exchange rate differences</link:label>
    <link:label id="lab_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_label_en-US" xlink:label="lab_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effect of exchange rate changes on cash and cash equivalents</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:to="lab_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashFlowsFromUsedInOperatingActivities_019eeebf-a98c-7302-a662-921474d7cee3_totalLabel_en-US" xlink:label="lab_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Cash inflow from operating activities</link:label>
    <link:label id="lab_ifrs-full_CashFlowsFromUsedInOperatingActivities_label_en-US" xlink:label="lab_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from (used in) operating activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="lab_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityDomain_019eeebf-a98c-7dd2-9460-7265b3dd737c_terseLabel_en-US" xlink:label="lab_dei_EntityDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity [Domain]</link:label>
    <link:label id="lab_dei_EntityDomain_label_en-US" xlink:label="lab_dei_EntityDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityDomain" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityDomain" xlink:to="lab_dei_EntityDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherNoncurrentFinancialLiabilities_019eeebf-a98c-7f46-afd3-2b0df5a45e9d_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherNoncurrentFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total other non-current financial liabilities</link:label>
    <link:label id="lab_ifrs-full_OtherNoncurrentFinancialLiabilities_label_en-US" xlink:label="lab_ifrs-full_OtherNoncurrentFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other non-current financial liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherNoncurrentFinancialLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OtherNoncurrentFinancialLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherNoncurrentFinancialLiabilities" xlink:to="lab_ifrs-full_OtherNoncurrentFinancialLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_GeographicalAreasDomain_019eeebf-a98c-7766-8ff4-34fbf6981e3a_terseLabel_en-US" xlink:label="lab_ifrs-full_GeographicalAreasDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Geographical areas [domain]</link:label>
    <link:label id="lab_ifrs-full_GeographicalAreasDomain_label_en-US" xlink:label="lab_ifrs-full_GeographicalAreasDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographical areas [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GeographicalAreasDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_GeographicalAreasDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_GeographicalAreasDomain" xlink:to="lab_ifrs-full_GeographicalAreasDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets_019eeebf-a98c-7ae4-8c9a-121ae9e2fc78_terseLabel_en-US" xlink:label="lab_ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loss on disposal of assets</link:label>
    <link:label id="lab_ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets_label_en-US" xlink:label="lab_ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for losses (gains) on disposal of non-current assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets" xlink:to="lab_ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentFiscalYearFocus_019eeebf-a8dd-752c-bef9-7371597df6f3_terseLabel_en-US" xlink:label="lab_dei_DocumentFiscalYearFocus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document fiscal year focus</link:label>
    <link:label id="lab_dei_DocumentFiscalYearFocus_label_en-US" xlink:label="lab_dei_DocumentFiscalYearFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Year Focus</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentFiscalYearFocus" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentFiscalYearFocus"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentFiscalYearFocus" xlink:to="lab_dei_DocumentFiscalYearFocus" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AdjustmentsForReconcileProfitLossAbstract_019eeebf-a8dd-7521-9b47-1d2ec1f33a26_terseLabel_en-US" xlink:label="lab_ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustments for:</link:label>
    <link:label id="lab_ifrs-full_AdjustmentsForReconcileProfitLossAbstract_label_en-US" xlink:label="lab_ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments to reconcile profit (loss) [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AdjustmentsForReconcileProfitLossAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:to="lab_ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems_019eeebf-a98c-7f13-90d9-02bd5301949e_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of maturity analysis for non-derivative financial liabilities [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of maturity analysis for non-derivative financial liabilities [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems" xlink:to="lab_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ReconciliationOfChangesInRightofuseAssetsAbstract_019eeebf-a8dd-7f4d-a82a-723ec3a03932_terseLabel_en-US" xlink:label="lab_ifrs-full_ReconciliationOfChangesInRightofuseAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reconciliation of changes in right-of-use assets [abstract]</link:label>
    <link:label id="lab_ifrs-full_ReconciliationOfChangesInRightofuseAssetsAbstract_label_en-US" xlink:label="lab_ifrs-full_ReconciliationOfChangesInRightofuseAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reconciliation of changes in right-of-use assets [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ReconciliationOfChangesInRightofuseAssetsAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ReconciliationOfChangesInRightofuseAssetsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ReconciliationOfChangesInRightofuseAssetsAbstract" xlink:to="lab_ifrs-full_ReconciliationOfChangesInRightofuseAssetsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_GoodsSoldDirectlyToConsumersMember_019eeebf-a98c-7f41-9691-54a667bd4478_terseLabel_en-US" xlink:label="lab_ifrs-full_GoodsSoldDirectlyToConsumersMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Direct-to-Consumer</link:label>
    <link:label id="lab_ifrs-full_GoodsSoldDirectlyToConsumersMember_label_en-US" xlink:label="lab_ifrs-full_GoodsSoldDirectlyToConsumersMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goods sold directly to consumers [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GoodsSoldDirectlyToConsumersMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_GoodsSoldDirectlyToConsumersMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_GoodsSoldDirectlyToConsumersMember" xlink:to="lab_ifrs-full_GoodsSoldDirectlyToConsumersMember" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_CurrentGrossLeaseLiabilities_019eeebf-a8dd-7f57-9472-5348dd9e0672_terseLabel_en-US" xlink:label="lab_onholdingag_CurrentGrossLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current lease liabilities</link:label>
    <link:label id="lab_onholdingag_CurrentGrossLeaseLiabilities_label_en-US" xlink:label="lab_onholdingag_CurrentGrossLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current Gross Lease Liabilities</link:label>
    <link:label id="lab_onholdingag_CurrentGrossLeaseLiabilities_documentation_en-US" xlink:label="lab_onholdingag_CurrentGrossLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Current Gross Lease Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_CurrentGrossLeaseLiabilities" xlink:href="onholdingag-20260630.xsd#onholdingag_CurrentGrossLeaseLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_CurrentGrossLeaseLiabilities" xlink:to="lab_onholdingag_CurrentGrossLeaseLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfAttributionOfExpensesByNatureToTheirFunctionLineItems_019eeebf-a8dd-793d-8198-4d7e15b6166e_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfAttributionOfExpensesByNatureToTheirFunctionLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of attribution of expenses by nature to their function [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfAttributionOfExpensesByNatureToTheirFunctionLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfAttributionOfExpensesByNatureToTheirFunctionLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of attribution of expenses by nature to their function [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfAttributionOfExpensesByNatureToTheirFunctionLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfAttributionOfExpensesByNatureToTheirFunctionLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfAttributionOfExpensesByNatureToTheirFunctionLineItems" xlink:to="lab_ifrs-full_DisclosureOfAttributionOfExpensesByNatureToTheirFunctionLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_BankingArrangementsClassifiedAsCashEquivalents_019eeebf-a8dd-7ec2-b582-f8439228d0dd_terseLabel_en-US" xlink:label="lab_ifrs-full_BankingArrangementsClassifiedAsCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Digital wallets</link:label>
    <link:label id="lab_ifrs-full_BankingArrangementsClassifiedAsCashEquivalents_label_en-US" xlink:label="lab_ifrs-full_BankingArrangementsClassifiedAsCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other banking arrangements, classified as cash equivalents</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_BankingArrangementsClassifiedAsCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_BankingArrangementsClassifiedAsCashEquivalents"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_BankingArrangementsClassifiedAsCashEquivalents" xlink:to="lab_ifrs-full_BankingArrangementsClassifiedAsCashEquivalents" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FinanceCosts_019eeebf-a8dd-7cca-aeba-97acf334beb2_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_FinanceCosts" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Financial expenses</link:label>
    <link:label id="lab_ifrs-full_FinanceCosts_019eeebf-a8dd-73e2-8cdb-43d69c934ac3_negatedTotalLabel_en-US" xlink:label="lab_ifrs-full_FinanceCosts" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Financial expenses</link:label>
    <link:label id="lab_ifrs-full_FinanceCosts_label_en-US" xlink:label="lab_ifrs-full_FinanceCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finance costs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinanceCosts" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_FinanceCosts"/>
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    <link:label id="lab_ifrs-full_DisclosureOfFinancialAssetsExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialAssetsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of financial assets [text block]</link:label>
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    <link:label id="lab_ifrs-full_AdjustmentsForIncomeTaxExpense_019eeebf-a8dd-7c62-b377-5b55350ee9e7_terseLabel_en-US" xlink:label="lab_ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income taxes</link:label>
    <link:label id="lab_ifrs-full_AdjustmentsForIncomeTaxExpense_label_en-US" xlink:label="lab_ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for income tax expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AdjustmentsForIncomeTaxExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:to="lab_ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_GoodsSoldThroughIntermediariesMember_019eeebf-a98c-7b16-9a5b-b7b8586c4eb7_terseLabel_en-US" xlink:label="lab_ifrs-full_GoodsSoldThroughIntermediariesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Wholesale</link:label>
    <link:label id="lab_ifrs-full_GoodsSoldThroughIntermediariesMember_label_en-US" xlink:label="lab_ifrs-full_GoodsSoldThroughIntermediariesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goods sold through intermediaries [member]</link:label>
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    <link:label id="lab_ifrs-full_ClassesOfProvisionsAxis_019eeebf-a98c-77e9-956f-99f108160c48_terseLabel_en-US" xlink:label="lab_ifrs-full_ClassesOfProvisionsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of other provisions [axis]</link:label>
    <link:label id="lab_ifrs-full_ClassesOfProvisionsAxis_label_en-US" xlink:label="lab_ifrs-full_ClassesOfProvisionsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of other provisions [axis]</link:label>
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    <link:label id="lab_ifrs-full_LeaseholdImprovementsMember_019eeebf-a98d-7a7f-8d66-16b39ad30180_terseLabel_en-US" xlink:label="lab_ifrs-full_LeaseholdImprovementsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Leasehold improvements</link:label>
    <link:label id="lab_ifrs-full_LeaseholdImprovementsMember_label_en-US" xlink:label="lab_ifrs-full_LeaseholdImprovementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Leasehold improvements [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LeaseholdImprovementsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_LeaseholdImprovementsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_LeaseholdImprovementsMember" xlink:to="lab_ifrs-full_LeaseholdImprovementsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations_019eeebf-a8dd-707b-ada5-bcd2893b2728_terseLabel_en-US" xlink:label="lab_ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">New and amended standards and interpretations</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations"/>
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    <link:label id="lab_onholdingag_DisclosureOfDetailedInformationAboutOtherCurrentOperatingAssetsAndLiabilitiesTableTextBlock_019eeebf-a8dd-7b2e-a131-9449a98b2654_terseLabel_en-US" xlink:label="lab_onholdingag_DisclosureOfDetailedInformationAboutOtherCurrentOperatingAssetsAndLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Other Current Operating Assets and Liabilities</link:label>
    <link:label id="lab_onholdingag_DisclosureOfDetailedInformationAboutOtherCurrentOperatingAssetsAndLiabilitiesTableTextBlock_label_en-US" xlink:label="lab_onholdingag_DisclosureOfDetailedInformationAboutOtherCurrentOperatingAssetsAndLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Detailed Information About Other Current Operating Assets and Liabilities [Table Text Block]</link:label>
    <link:label id="lab_onholdingag_DisclosureOfDetailedInformationAboutOtherCurrentOperatingAssetsAndLiabilitiesTableTextBlock_documentation_en-US" xlink:label="lab_onholdingag_DisclosureOfDetailedInformationAboutOtherCurrentOperatingAssetsAndLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure Of Detailed Information About Other Current Operating Assets and Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_DisclosureOfDetailedInformationAboutOtherCurrentOperatingAssetsAndLiabilitiesTableTextBlock" xlink:href="onholdingag-20260630.xsd#onholdingag_DisclosureOfDetailedInformationAboutOtherCurrentOperatingAssetsAndLiabilitiesTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_DisclosureOfDetailedInformationAboutOtherCurrentOperatingAssetsAndLiabilitiesTableTextBlock" xlink:to="lab_onholdingag_DisclosureOfDetailedInformationAboutOtherCurrentOperatingAssetsAndLiabilitiesTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfOtherCurrentAssetsExplanatory_019eeebf-a98c-7abd-b50d-b8545097cbb2_verboseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfOtherCurrentAssetsExplanatory" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other current operating assets</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfOtherCurrentAssetsExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfOtherCurrentAssetsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of other current assets [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfOtherCurrentAssetsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfOtherCurrentAssetsExplanatory"/>
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    <link:label id="lab_onholdingag_OnRunningKenyaLimitedMember_019eeebf-a98c-7ce7-8fae-3d5dfa2725cf_terseLabel_en-US" xlink:label="lab_onholdingag_OnRunningKenyaLimitedMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">On Running Kenya Limited</link:label>
    <link:label id="lab_onholdingag_OnRunningKenyaLimitedMember_label_en-US" xlink:label="lab_onholdingag_OnRunningKenyaLimitedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">On Running Kenya Limited [Member]</link:label>
    <link:label id="lab_onholdingag_OnRunningKenyaLimitedMember_documentation_en-US" xlink:label="lab_onholdingag_OnRunningKenyaLimitedMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">On Running Kenya Limited</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_OnRunningKenyaLimitedMember" xlink:href="onholdingag-20260630.xsd#onholdingag_OnRunningKenyaLimitedMember"/>
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    <link:label id="lab_onholdingag_OnCloudServiceGmbHMember_019eeebf-a8dd-77bd-ba45-76c08fb6fa5b_terseLabel_en-US" xlink:label="lab_onholdingag_OnCloudServiceGmbHMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">On Cloud Service GmbH</link:label>
    <link:label id="lab_onholdingag_OnCloudServiceGmbHMember_label_en-US" xlink:label="lab_onholdingag_OnCloudServiceGmbHMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">On Cloud Service GmbH [Member]</link:label>
    <link:label id="lab_onholdingag_OnCloudServiceGmbHMember_documentation_en-US" xlink:label="lab_onholdingag_OnCloudServiceGmbHMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">On Cloud Service GmbH</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_OnCloudServiceGmbHMember" xlink:href="onholdingag-20260630.xsd#onholdingag_OnCloudServiceGmbHMember"/>
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    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_019eeebf-a8dd-7667-9303-9c0600722b92_verboseLabel_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net actuarial result from defined benefit plans</link:label>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_label_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other comprehensive income, before tax, gains (losses) on remeasurements of defined benefit plans</link:label>
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    <link:label id="lab_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers_019eeebf-a98c-7080-80a2-00dba4cede86_terseLabel_en-US" xlink:label="lab_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trade payables</link:label>
    <link:label id="lab_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers_label_en-US" xlink:label="lab_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current trade payables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers"/>
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    <link:label id="lab_onholdingag_ContingenciesIEEPATariffRefundReceived_019fcc8a-27d0-7f01-b1e0-3ebb17977e34_terseLabel_en-US" xlink:label="lab_onholdingag_ContingenciesIEEPATariffRefundReceived" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">IEEPA, received for recovery of import duties</link:label>
    <link:label id="lab_onholdingag_ContingenciesIEEPATariffRefundReceived_label_en-US" xlink:label="lab_onholdingag_ContingenciesIEEPATariffRefundReceived" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contingencies, IEEPA Tariff Refund Received</link:label>
    <link:label id="lab_onholdingag_ContingenciesIEEPATariffRefundReceived_documentation_en-US" xlink:label="lab_onholdingag_ContingenciesIEEPATariffRefundReceived" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Contingencies, IEEPA Tariff Refund Received</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_ContingenciesIEEPATariffRefundReceived" xlink:href="onholdingag-20260630.xsd#onholdingag_ContingenciesIEEPATariffRefundReceived"/>
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    <link:label id="lab_ifrs-full_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome_019eeebf-a8dd-773a-84cf-47b9ec034049_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Taxes on net actuarial result from defined benefit plans</link:label>
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    <link:label id="lab_dei_EntityCentralIndexKey_019eeebf-a98c-7b22-80cb-ad69a9dbca7b_terseLabel_en-US" xlink:label="lab_dei_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity central index key</link:label>
    <link:label id="lab_dei_EntityCentralIndexKey_label_en-US" xlink:label="lab_dei_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityCentralIndexKey" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityCentralIndexKey"/>
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    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_019eeebf-a98c-7c7d-a074-6dcee0bd2698_totalLabel_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Items that will be reclassified to income statement when specific conditions are met</link:label>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_label_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other comprehensive income that will be reclassified to profit or loss, net of tax</link:label>
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    <link:label id="lab_ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory_019eeebf-a98c-7d8c-98b8-ccefb9a46b1c_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of cash and cash equivalents [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory"/>
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    <link:label id="lab_onholdingag_NonCurrentGrossLeaseLiabilities_019eeebf-a8dd-7984-ae0a-2919d439dbbb_terseLabel_en-US" xlink:label="lab_onholdingag_NonCurrentGrossLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-current lease liabilities</link:label>
    <link:label id="lab_onholdingag_NonCurrentGrossLeaseLiabilities_label_en-US" xlink:label="lab_onholdingag_NonCurrentGrossLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-Current Gross Lease Liabilities</link:label>
    <link:label id="lab_onholdingag_NonCurrentGrossLeaseLiabilities_documentation_en-US" xlink:label="lab_onholdingag_NonCurrentGrossLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Non-Current Gross Lease Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_NonCurrentGrossLeaseLiabilities" xlink:href="onholdingag-20260630.xsd#onholdingag_NonCurrentGrossLeaseLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_NonCurrentGrossLeaseLiabilities" xlink:to="lab_onholdingag_NonCurrentGrossLeaseLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_OnCloudsIncMember_019eeebf-a98c-7644-8480-fd49b26343ae_terseLabel_en-US" xlink:label="lab_onholdingag_OnCloudsIncMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">On Clouds Inc.</link:label>
    <link:label id="lab_onholdingag_OnCloudsIncMember_label_en-US" xlink:label="lab_onholdingag_OnCloudsIncMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">On Clouds Inc [Member]</link:label>
    <link:label id="lab_onholdingag_OnCloudsIncMember_documentation_en-US" xlink:label="lab_onholdingag_OnCloudsIncMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">On Clouds Inc</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_OnCloudsIncMember" xlink:href="onholdingag-20260630.xsd#onholdingag_OnCloudsIncMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_OnCloudsIncMember" xlink:to="lab_onholdingag_OnCloudsIncMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesTable_019eeebf-a8dd-77a3-9ea6-22050e078fab_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of maturity analysis for non-derivative financial liabilities [table]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesTable_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of maturity analysis for non-derivative financial liabilities [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesTable" xlink:to="lab_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentTradeReceivables_019eeebf-a8dd-7e91-9cce-d8e68189f09e_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentTradeReceivables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trade receivables</link:label>
    <link:label id="lab_ifrs-full_CurrentTradeReceivables_label_en-US" xlink:label="lab_ifrs-full_CurrentTradeReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current trade receivables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentTradeReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CurrentTradeReceivables"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentTradeReceivables" xlink:to="lab_ifrs-full_CurrentTradeReceivables" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares_019eeebf-a98c-7be8-805b-250cee7e595f_terseLabel_en-US" xlink:label="lab_ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted number of shares with dilutive effects (in shares)</link:label>
    <link:label id="lab_ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares_label_en-US" xlink:label="lab_ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dilutive effect of share options on weighted average number of ordinary shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:to="lab_ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfEarningsPerShareExplanatory_019eeebf-a8dd-7b0a-8c17-f1e387ae4da2_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfEarningsPerShareExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Earnings per share</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfEarningsPerShareExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfEarningsPerShareExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of earnings per share [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfEarningsPerShareExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfEarningsPerShareExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfEarningsPerShareExplanatory" xlink:to="lab_ifrs-full_DisclosureOfEarningsPerShareExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_OfficeBuildingMember_019eeebf-a8dd-758a-9d54-d7a08e46f26e_terseLabel_en-US" xlink:label="lab_srt_OfficeBuildingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Offices</link:label>
    <link:label id="lab_srt_OfficeBuildingMember_label_en-US" xlink:label="lab_srt_OfficeBuildingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Office Building [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_OfficeBuildingMember" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_OfficeBuildingMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_OfficeBuildingMember" xlink:to="lab_srt_OfficeBuildingMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_GrossCarryingAmountMember_019eeebf-a98c-7ed8-82dd-621dd0fdca11_terseLabel_en-US" xlink:label="lab_ifrs-full_GrossCarryingAmountMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gross carrying amount</link:label>
    <link:label id="lab_ifrs-full_GrossCarryingAmountMember_019eeebf-a98c-742e-8eb4-4da9afc1603f_verboseLabel_en-US" xlink:label="lab_ifrs-full_GrossCarryingAmountMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Cost</link:label>
    <link:label id="lab_ifrs-full_GrossCarryingAmountMember_label_en-US" xlink:label="lab_ifrs-full_GrossCarryingAmountMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gross carrying amount [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GrossCarryingAmountMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_GrossCarryingAmountMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_GrossCarryingAmountMember" xlink:to="lab_ifrs-full_GrossCarryingAmountMember" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_OtherCurrentFinancialLiabilitiesUndiscountedCashFlows_019eeebf-a8dd-76c6-bb05-5bc9a86f718c_totalLabel_en-US" xlink:label="lab_onholdingag_OtherCurrentFinancialLiabilitiesUndiscountedCashFlows" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Other current financial liabilities</link:label>
    <link:label id="lab_onholdingag_OtherCurrentFinancialLiabilitiesUndiscountedCashFlows_label_en-US" xlink:label="lab_onholdingag_OtherCurrentFinancialLiabilitiesUndiscountedCashFlows" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Current Financial Liabilities, Undiscounted Cash Flows</link:label>
    <link:label id="lab_onholdingag_OtherCurrentFinancialLiabilitiesUndiscountedCashFlows_documentation_en-US" xlink:label="lab_onholdingag_OtherCurrentFinancialLiabilitiesUndiscountedCashFlows" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Current Financial Liabilities, Undiscounted Cash Flows</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_OtherCurrentFinancialLiabilitiesUndiscountedCashFlows" xlink:href="onholdingag-20260630.xsd#onholdingag_OtherCurrentFinancialLiabilitiesUndiscountedCashFlows"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_OtherCurrentFinancialLiabilitiesUndiscountedCashFlows" xlink:to="lab_onholdingag_OtherCurrentFinancialLiabilitiesUndiscountedCashFlows" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfInventoriesExplanatory_019eeebf-a98c-77bd-8bf7-20fe6676a580_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfInventoriesExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Inventories</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfInventoriesExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfInventoriesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of inventories [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfInventoriesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfInventoriesExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfInventoriesExplanatory" xlink:to="lab_ifrs-full_DisclosureOfInventoriesExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_InventoriesPledgedAsSecurityForLiabilities_019eeebf-a98d-7cb4-9554-600687352195_terseLabel_en-US" xlink:label="lab_ifrs-full_InventoriesPledgedAsSecurityForLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Inventory</link:label>
    <link:label id="lab_ifrs-full_InventoriesPledgedAsSecurityForLiabilities_label_en-US" xlink:label="lab_ifrs-full_InventoriesPledgedAsSecurityForLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Inventories pledged as security for liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_InventoriesPledgedAsSecurityForLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_InventoriesPledgedAsSecurityForLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_InventoriesPledgedAsSecurityForLiabilities" xlink:to="lab_ifrs-full_InventoriesPledgedAsSecurityForLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AccrualsClassifiedAsCurrent_019eeebf-a8dd-741c-8a64-6b33f36d6e75_terseLabel_en-US" xlink:label="lab_ifrs-full_AccrualsClassifiedAsCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued expenses</link:label>
    <link:label id="lab_ifrs-full_AccrualsClassifiedAsCurrent_label_en-US" xlink:label="lab_ifrs-full_AccrualsClassifiedAsCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accruals classified as current</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AccrualsClassifiedAsCurrent" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AccrualsClassifiedAsCurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AccrualsClassifiedAsCurrent" xlink:to="lab_ifrs-full_AccrualsClassifiedAsCurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ReconciliationOfChangesInPropertyPlantAndEquipmentAbstract_019eeebf-a98d-73ca-97f0-f1dc77431dfc_terseLabel_en-US" xlink:label="lab_ifrs-full_ReconciliationOfChangesInPropertyPlantAndEquipmentAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reconciliation of changes in property, plant and equipment [abstract]</link:label>
    <link:label id="lab_ifrs-full_ReconciliationOfChangesInPropertyPlantAndEquipmentAbstract_label_en-US" xlink:label="lab_ifrs-full_ReconciliationOfChangesInPropertyPlantAndEquipmentAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reconciliation of changes in property, plant and equipment [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ReconciliationOfChangesInPropertyPlantAndEquipmentAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ReconciliationOfChangesInPropertyPlantAndEquipmentAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ReconciliationOfChangesInPropertyPlantAndEquipmentAbstract" xlink:to="lab_ifrs-full_ReconciliationOfChangesInPropertyPlantAndEquipmentAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NotLaterThanOneYearMember_019eeebf-a8dd-7cf1-8671-152e69809970_terseLabel_en-US" xlink:label="lab_ifrs-full_NotLaterThanOneYearMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Due within 1 year</link:label>
    <link:label id="lab_ifrs-full_NotLaterThanOneYearMember_label_en-US" xlink:label="lab_ifrs-full_NotLaterThanOneYearMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Not later than one year [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NotLaterThanOneYearMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_NotLaterThanOneYearMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NotLaterThanOneYearMember" xlink:to="lab_ifrs-full_NotLaterThanOneYearMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about property, plant and equipment [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:to="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_019eeebf-a98c-758b-abf6-391fa1cc055a_terseLabel_en-US" xlink:label="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additions</link:label>
    <link:label id="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_label_en-US" xlink:label="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additions other than through business combinations, property, plant and equipment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:to="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProfitLossFromOperatingActivities_019eeebf-a98d-71ff-adc9-5fc879dc90c0_totalLabel_en-US" xlink:label="lab_ifrs-full_ProfitLossFromOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Operating result</link:label>
    <link:label id="lab_ifrs-full_ProfitLossFromOperatingActivities_label_en-US" xlink:label="lab_ifrs-full_ProfitLossFromOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit (loss) from operating activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProfitLossFromOperatingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ProfitLossFromOperatingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProfitLossFromOperatingActivities" xlink:to="lab_ifrs-full_ProfitLossFromOperatingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AdjustmentsForDecreaseIncreaseInInventories_019eeebf-a98d-721e-954a-199c493fa369_terseLabel_en-US" xlink:label="lab_ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Inventories</link:label>
    <link:label id="lab_ifrs-full_AdjustmentsForDecreaseIncreaseInInventories_label_en-US" xlink:label="lab_ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for decrease (increase) in inventories</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInInventories"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:to="lab_ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfFinancialAssetsLineItems_019eeebf-a98c-70d3-9273-0a97aa1e86bd_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of financial assets [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfFinancialAssetsLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of financial assets [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfFinancialAssetsLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfFinancialAssetsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfFinancialAssetsLineItems" xlink:to="lab_ifrs-full_DisclosureOfFinancialAssetsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfLeasesExplanatory_019eeebf-a8dd-7faa-9640-99fcd94b2f58_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfLeasesExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Right-of-use assets</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfLeasesExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfLeasesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of leases [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfLeasesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfLeasesExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfLeasesExplanatory" xlink:to="lab_ifrs-full_DisclosureOfLeasesExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_PTOnRunningIndonesiaMember_019f5bad-3b18-7031-b019-78bfd8629332_terseLabel_en-US" xlink:label="lab_onholdingag_PTOnRunningIndonesiaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PT On Running Indonesia</link:label>
    <link:label id="lab_onholdingag_PTOnRunningIndonesiaMember_label_en-US" xlink:label="lab_onholdingag_PTOnRunningIndonesiaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PT On Running Indonesia [Member]</link:label>
    <link:label id="lab_onholdingag_PTOnRunningIndonesiaMember_documentation_en-US" xlink:label="lab_onholdingag_PTOnRunningIndonesiaMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">PT On Running Indonesia</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_PTOnRunningIndonesiaMember" xlink:href="onholdingag-20260630.xsd#onholdingag_PTOnRunningIndonesiaMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_PTOnRunningIndonesiaMember" xlink:to="lab_onholdingag_PTOnRunningIndonesiaMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_019eeebf-a8dd-79f1-aa46-d1266490cb15_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Payments of lease liabilities</link:label>
    <link:label id="lab_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_label_en-US" xlink:label="lab_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments of lease liabilities, classified as financing activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:to="lab_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_IncreaseDecreaseInEquityRelatedToCurrentTaxBenefitsOnTreasuryShareTransactions_019eeebf-a98c-739a-af73-cf84e5a3b073_terseLabel_en-US" xlink:label="lab_onholdingag_IncreaseDecreaseInEquityRelatedToCurrentTaxBenefitsOnTreasuryShareTransactions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tax impact on transactions with treasury shares</link:label>
    <link:label id="lab_onholdingag_IncreaseDecreaseInEquityRelatedToCurrentTaxBenefitsOnTreasuryShareTransactions_label_en-US" xlink:label="lab_onholdingag_IncreaseDecreaseInEquityRelatedToCurrentTaxBenefitsOnTreasuryShareTransactions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) In Equity Related To Current Tax Benefits On Treasury Share Transactions</link:label>
    <link:label id="lab_onholdingag_IncreaseDecreaseInEquityRelatedToCurrentTaxBenefitsOnTreasuryShareTransactions_documentation_en-US" xlink:label="lab_onholdingag_IncreaseDecreaseInEquityRelatedToCurrentTaxBenefitsOnTreasuryShareTransactions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase (Decrease) In Equity Related To Current Tax Benefits On Treasury Share Transactions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_IncreaseDecreaseInEquityRelatedToCurrentTaxBenefitsOnTreasuryShareTransactions" xlink:href="onholdingag-20260630.xsd#onholdingag_IncreaseDecreaseInEquityRelatedToCurrentTaxBenefitsOnTreasuryShareTransactions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_IncreaseDecreaseInEquityRelatedToCurrentTaxBenefitsOnTreasuryShareTransactions" xlink:to="lab_onholdingag_IncreaseDecreaseInEquityRelatedToCurrentTaxBenefitsOnTreasuryShareTransactions" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AdjustmentsForIncreaseDecreaseInEmployeeBenefitLiabilities_019eeebf-a8dd-716b-83bf-faca907d28ed_terseLabel_en-US" xlink:label="lab_ifrs-full_AdjustmentsForIncreaseDecreaseInEmployeeBenefitLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee benefit expenses</link:label>
    <link:label id="lab_ifrs-full_AdjustmentsForIncreaseDecreaseInEmployeeBenefitLiabilities_label_en-US" xlink:label="lab_ifrs-full_AdjustmentsForIncreaseDecreaseInEmployeeBenefitLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for increase (decrease) in employee benefit liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdjustmentsForIncreaseDecreaseInEmployeeBenefitLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInEmployeeBenefitLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdjustmentsForIncreaseDecreaseInEmployeeBenefitLiabilities" xlink:to="lab_ifrs-full_AdjustmentsForIncreaseDecreaseInEmployeeBenefitLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProportionOfOwnershipInterestInSubsidiary_019eeebf-a8dd-7d36-85cb-57a9297cac60_terseLabel_en-US" xlink:label="lab_ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proportion of ownership interest in subsidiary</link:label>
    <link:label id="lab_ifrs-full_ProportionOfOwnershipInterestInSubsidiary_label_en-US" xlink:label="lab_ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proportion of ownership interest in subsidiary</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ProportionOfOwnershipInterestInSubsidiary"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:to="lab_ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_OnRunningUKLtdMember_019eeebf-a8dd-771d-b0f3-860374ef3422_terseLabel_en-US" xlink:label="lab_onholdingag_OnRunningUKLtdMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">On Running UK Ltd.</link:label>
    <link:label id="lab_onholdingag_OnRunningUKLtdMember_label_en-US" xlink:label="lab_onholdingag_OnRunningUKLtdMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">On Running UK Ltd. [Member]</link:label>
    <link:label id="lab_onholdingag_OnRunningUKLtdMember_documentation_en-US" xlink:label="lab_onholdingag_OnRunningUKLtdMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">On Running UK Ltd.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_OnRunningUKLtdMember" xlink:href="onholdingag-20260630.xsd#onholdingag_OnRunningUKLtdMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_OnRunningUKLtdMember" xlink:to="lab_onholdingag_OnRunningUKLtdMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_AmericasMember_019eeebf-a98c-7117-a59d-c297d66a783f_terseLabel_en-US" xlink:label="lab_srt_AmericasMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Americas</link:label>
    <link:label id="lab_srt_AmericasMember_label_en-US" xlink:label="lab_srt_AmericasMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Americas [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_AmericasMember" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_AmericasMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_AmericasMember" xlink:to="lab_srt_AmericasMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherAdjustmentsToReconcileProfitLoss_019eeebf-a98c-77ba-9c1f-f6316f2f3b11_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherAdjustmentsToReconcileProfitLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in other current assets / liabilities</link:label>
    <link:label id="lab_ifrs-full_OtherAdjustmentsToReconcileProfitLoss_label_en-US" xlink:label="lab_ifrs-full_OtherAdjustmentsToReconcileProfitLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other adjustments to reconcile profit (loss)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherAdjustmentsToReconcileProfitLoss" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OtherAdjustmentsToReconcileProfitLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherAdjustmentsToReconcileProfitLoss" xlink:to="lab_ifrs-full_OtherAdjustmentsToReconcileProfitLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_ReserveForEquityTransactionCostsMember_019eeebf-a98c-73f8-b6af-dc07a052f469_terseLabel_en-US" xlink:label="lab_onholdingag_ReserveForEquityTransactionCostsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity transaction costs</link:label>
    <link:label id="lab_onholdingag_ReserveForEquityTransactionCostsMember_label_en-US" xlink:label="lab_onholdingag_ReserveForEquityTransactionCostsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reserve For Equity Transaction Costs [Member]</link:label>
    <link:label id="lab_onholdingag_ReserveForEquityTransactionCostsMember_documentation_en-US" xlink:label="lab_onholdingag_ReserveForEquityTransactionCostsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Reserve For Equity Transaction Costs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_ReserveForEquityTransactionCostsMember" xlink:href="onholdingag-20260630.xsd#onholdingag_ReserveForEquityTransactionCostsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_ReserveForEquityTransactionCostsMember" xlink:to="lab_onholdingag_ReserveForEquityTransactionCostsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityRegistrantName_019eeebf-a98c-7026-85b3-8cb1f6023830_terseLabel_en-US" xlink:label="lab_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity registrant name</link:label>
    <link:label id="lab_dei_EntityRegistrantName_label_en-US" xlink:label="lab_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityRegistrantName" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityRegistrantName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityRegistrantName" xlink:to="lab_dei_EntityRegistrantName" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_BasicEarningsLossPerShare_019eeebf-a98d-7d37-8fea-5fce95204bbe_terseLabel_en-US" xlink:label="lab_ifrs-full_BasicEarningsLossPerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basic EPS (CHF) (in CHF per share)</link:label>
    <link:label id="lab_ifrs-full_BasicEarningsLossPerShare_label_en-US" xlink:label="lab_ifrs-full_BasicEarningsLossPerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Basic earnings (loss) per share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_BasicEarningsLossPerShare" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_BasicEarningsLossPerShare"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_BasicEarningsLossPerShare" xlink:to="lab_ifrs-full_BasicEarningsLossPerShare" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains_019eeebf-a98c-76fd-a1f8-1b51261433da_terseLabel_en-US" xlink:label="lab_ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net exchange differences</link:label>
    <link:label id="lab_ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains_label_en-US" xlink:label="lab_ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for unrealised foreign exchange losses (gains)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:to="lab_ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_OnIncMember_019eeebf-a98c-7453-9f6d-0b8d1097f398_terseLabel_en-US" xlink:label="lab_onholdingag_OnIncMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">On Inc.</link:label>
    <link:label id="lab_onholdingag_OnIncMember_label_en-US" xlink:label="lab_onholdingag_OnIncMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">On Inc. [Member]</link:label>
    <link:label id="lab_onholdingag_OnIncMember_documentation_en-US" xlink:label="lab_onholdingag_OnIncMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">On Inc.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_OnIncMember" xlink:href="onholdingag-20260630.xsd#onholdingag_OnIncMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_OnIncMember" xlink:to="lab_onholdingag_OnIncMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfProvisionsExplanatory_019eeebf-a98c-7bb6-a2a6-c1137b5e5ca9_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfProvisionsExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Provisions</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfProvisionsExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfProvisionsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of provisions [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfProvisionsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfProvisionsExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfProvisionsExplanatory" xlink:to="lab_ifrs-full_DisclosureOfProvisionsExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_StatementOfCashFlowsAbstract_label_en-US" xlink:label="lab_ifrs-full_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of cash flows [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_StatementOfCashFlowsAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_StatementOfCashFlowsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_StatementOfCashFlowsAbstract" xlink:to="lab_ifrs-full_StatementOfCashFlowsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AdjustedWeightedAverageShares_019eeebf-a98d-7c82-8a01-200982476fa9_totalLabel_en-US" xlink:label="lab_ifrs-full_AdjustedWeightedAverageShares" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Weighted number of outstanding shares (diluted and undiluted) (in shares)</link:label>
    <link:label id="lab_ifrs-full_AdjustedWeightedAverageShares_label_en-US" xlink:label="lab_ifrs-full_AdjustedWeightedAverageShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted average number of ordinary shares used in calculating diluted earnings per share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdjustedWeightedAverageShares" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AdjustedWeightedAverageShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdjustedWeightedAverageShares" xlink:to="lab_ifrs-full_AdjustedWeightedAverageShares" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfFinancialAssetsTable_019eeebf-a8dd-74da-9316-4940c3574cbc_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialAssetsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of financial assets [table]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfFinancialAssetsTable_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialAssetsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of financial assets [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfFinancialAssetsTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfFinancialAssetsTable"/>
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    <link:label id="lab_onholdingag_DisclosureOfInventoryTable_019eeebf-a8dd-7a0b-bcae-111ecb5e36c5_terseLabel_en-US" xlink:label="lab_onholdingag_DisclosureOfInventoryTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure Of Inventory [Table]</link:label>
    <link:label id="lab_onholdingag_DisclosureOfInventoryTable_label_en-US" xlink:label="lab_onholdingag_DisclosureOfInventoryTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Inventory [Table]</link:label>
    <link:label id="lab_onholdingag_DisclosureOfInventoryTable_documentation_en-US" xlink:label="lab_onholdingag_DisclosureOfInventoryTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure Of Inventory [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_DisclosureOfInventoryTable" xlink:href="onholdingag-20260630.xsd#onholdingag_DisclosureOfInventoryTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_DisclosureOfInventoryTable" xlink:to="lab_onholdingag_DisclosureOfInventoryTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfAmountsToBeRecoveredOrSettledAfterTwelveMonthsForClassesOfAssetsAndLiabilitiesThatContainAmountsToBeRecoveredOrSettledBothNoMoreAndMoreThanTwelveMonthsAfterReportingDateTable_019eeebf-a98d-7590-a6a3-b19da3ec8368_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfAmountsToBeRecoveredOrSettledAfterTwelveMonthsForClassesOfAssetsAndLiabilitiesThatContainAmountsToBeRecoveredOrSettledBothNoMoreAndMoreThanTwelveMonthsAfterReportingDateTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [table]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfAmountsToBeRecoveredOrSettledAfterTwelveMonthsForClassesOfAssetsAndLiabilitiesThatContainAmountsToBeRecoveredOrSettledBothNoMoreAndMoreThanTwelveMonthsAfterReportingDateTable_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfAmountsToBeRecoveredOrSettledAfterTwelveMonthsForClassesOfAssetsAndLiabilitiesThatContainAmountsToBeRecoveredOrSettledBothNoMoreAndMoreThanTwelveMonthsAfterReportingDateTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfAmountsToBeRecoveredOrSettledAfterTwelveMonthsForClassesOfAssetsAndLiabilitiesThatContainAmountsToBeRecoveredOrSettledBothNoMoreAndMoreThanTwelveMonthsAfterReportingDateTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfAmountsToBeRecoveredOrSettledAfterTwelveMonthsForClassesOfAssetsAndLiabilitiesThatContainAmountsToBeRecoveredOrSettledBothNoMoreAndMoreThanTwelveMonthsAfterReportingDateTable"/>
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    <link:label id="lab_ifrs-full_AdjustmentsForSharebasedPayments_019eeebf-a98c-7c88-94a1-5945ee35f784_terseLabel_en-US" xlink:label="lab_ifrs-full_AdjustmentsForSharebasedPayments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based compensation</link:label>
    <link:label id="lab_ifrs-full_AdjustmentsForSharebasedPayments_label_en-US" xlink:label="lab_ifrs-full_AdjustmentsForSharebasedPayments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for share-based payments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdjustmentsForSharebasedPayments" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AdjustmentsForSharebasedPayments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdjustmentsForSharebasedPayments" xlink:to="lab_ifrs-full_AdjustmentsForSharebasedPayments" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherPayables_019eeebf-a8dd-77cc-a6f9-0a0834bd31e1_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherPayables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other payables</link:label>
    <link:label id="lab_ifrs-full_OtherPayables_label_en-US" xlink:label="lab_ifrs-full_OtherPayables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other payables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherPayables" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OtherPayables"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherPayables" xlink:to="lab_ifrs-full_OtherPayables" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities_019eeebf-a98d-71bf-ac37-27bca8f4047a_terseLabel_en-US" xlink:label="lab_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Estimated financial effect of contingent liabilities</link:label>
    <link:label id="lab_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities_label_en-US" xlink:label="lab_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Estimated financial effect of contingent liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_EstimatedFinancialEffectOfContingentLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities" xlink:to="lab_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis_019eeebf-a98c-75be-be98-d18610fba5f4_terseLabel_en-US" xlink:label="lab_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of intangible assets and goodwill [axis]</link:label>
    <link:label id="lab_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis_label_en-US" xlink:label="lab_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of intangible assets and goodwill [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:to="lab_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_DisclosureOfInventoryLineItems_019eeebf-a98c-7758-889e-8fd4c241595d_terseLabel_en-US" xlink:label="lab_onholdingag_DisclosureOfInventoryLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure Of Inventory [Line Items]</link:label>
    <link:label id="lab_onholdingag_DisclosureOfInventoryLineItems_label_en-US" xlink:label="lab_onholdingag_DisclosureOfInventoryLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Inventory [Line Items]</link:label>
    <link:label id="lab_onholdingag_DisclosureOfInventoryLineItems_documentation_en-US" xlink:label="lab_onholdingag_DisclosureOfInventoryLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure Of Inventory [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_DisclosureOfInventoryLineItems" xlink:href="onholdingag-20260630.xsd#onholdingag_DisclosureOfInventoryLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_DisclosureOfInventoryLineItems" xlink:to="lab_onholdingag_DisclosureOfInventoryLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory_019eeebf-a98c-75f9-bc0d-1a946b72ffa4_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Intangible Assets</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of reconciliation of changes in intangible assets and goodwill [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory"/>
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    <link:label id="lab_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable_019eeebf-a98d-7b8a-a5da-d53b5e425200_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of disaggregation of revenue from contracts with customers [table]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of disaggregation of revenue from contracts with customers [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable" xlink:to="lab_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfOperatingSegmentsAbstract_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfOperatingSegmentsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of operating segments [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfOperatingSegmentsAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfOperatingSegmentsAbstract"/>
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    <link:label id="lab_onholdingag_OnRunningSportsProductsShanghaiCompanyLtdMember_019eeebf-a98c-7b75-80c5-4f8740dace23_terseLabel_en-US" xlink:label="lab_onholdingag_OnRunningSportsProductsShanghaiCompanyLtdMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">On Running Sports Products (Shanghai) Company Ltd.</link:label>
    <link:label id="lab_onholdingag_OnRunningSportsProductsShanghaiCompanyLtdMember_label_en-US" xlink:label="lab_onholdingag_OnRunningSportsProductsShanghaiCompanyLtdMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">On Running Sports Products (Shanghai) Company Ltd. [Member]</link:label>
    <link:label id="lab_onholdingag_OnRunningSportsProductsShanghaiCompanyLtdMember_documentation_en-US" xlink:label="lab_onholdingag_OnRunningSportsProductsShanghaiCompanyLtdMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">On Running Sports Products (Shanghai) Company Ltd.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_OnRunningSportsProductsShanghaiCompanyLtdMember" xlink:href="onholdingag-20260630.xsd#onholdingag_OnRunningSportsProductsShanghaiCompanyLtdMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_OnRunningSportsProductsShanghaiCompanyLtdMember" xlink:to="lab_onholdingag_OnRunningSportsProductsShanghaiCompanyLtdMember" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_LineCreditFacilityMaximumBorrowingCapacity_019eeebf-a98c-7cf8-a343-1704f11e1ec9_terseLabel_en-US" xlink:label="lab_onholdingag_LineCreditFacilityMaximumBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Credit facility, maximum borrowing capacity</link:label>
    <link:label id="lab_onholdingag_LineCreditFacilityMaximumBorrowingCapacity_label_en-US" xlink:label="lab_onholdingag_LineCreditFacilityMaximumBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line Credit Facility, Maximum Borrowing Capacity</link:label>
    <link:label id="lab_onholdingag_LineCreditFacilityMaximumBorrowingCapacity_documentation_en-US" xlink:label="lab_onholdingag_LineCreditFacilityMaximumBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Line Credit Facility, Maximum Borrowing Capacity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_LineCreditFacilityMaximumBorrowingCapacity" xlink:href="onholdingag-20260630.xsd#onholdingag_LineCreditFacilityMaximumBorrowingCapacity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_LineCreditFacilityMaximumBorrowingCapacity" xlink:to="lab_onholdingag_LineCreditFacilityMaximumBorrowingCapacity" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherCurrentFinancialLiabilities_019eeebf-a98c-7f4b-baf9-f95df8d5b50d_verboseLabel_en-US" xlink:label="lab_ifrs-full_OtherCurrentFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Total other current financial liabilities</link:label>
    <link:label id="lab_ifrs-full_OtherCurrentFinancialLiabilities_label_en-US" xlink:label="lab_ifrs-full_OtherCurrentFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other current financial liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherCurrentFinancialLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OtherCurrentFinancialLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherCurrentFinancialLiabilities" xlink:to="lab_ifrs-full_OtherCurrentFinancialLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_LargestSingleCustomerMember_019f8a54-7126-7194-be7a-58760d1147c7_terseLabel_en-US" xlink:label="lab_onholdingag_LargestSingleCustomerMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Largest single customer</link:label>
    <link:label id="lab_onholdingag_LargestSingleCustomerMember_label_en-US" xlink:label="lab_onholdingag_LargestSingleCustomerMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Largest Single Customer [Member]</link:label>
    <link:label id="lab_onholdingag_LargestSingleCustomerMember_documentation_en-US" xlink:label="lab_onholdingag_LargestSingleCustomerMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Largest Single Customer</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_LargestSingleCustomerMember" xlink:href="onholdingag-20260630.xsd#onholdingag_LargestSingleCustomerMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_LargestSingleCustomerMember" xlink:to="lab_onholdingag_LargestSingleCustomerMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract_label_en-US" xlink:label="lab_ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subclassifications of assets, liabilities and equities [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract" xlink:to="lab_ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ClassesOfShareCapitalDomain_019eeebf-a8dd-7266-ac1c-c343c81b9ecb_terseLabel_en-US" xlink:label="lab_ifrs-full_ClassesOfShareCapitalDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of share capital [domain]</link:label>
    <link:label id="lab_ifrs-full_ClassesOfShareCapitalDomain_label_en-US" xlink:label="lab_ifrs-full_ClassesOfShareCapitalDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of share capital [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ClassesOfShareCapitalDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ClassesOfShareCapitalDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ClassesOfShareCapitalDomain" xlink:to="lab_ifrs-full_ClassesOfShareCapitalDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_OnHongKongLimitedMacauBranchMember_019f5bad-3b18-7b5c-8e48-5e81c29bcd2b_terseLabel_en-US" xlink:label="lab_onholdingag_OnHongKongLimitedMacauBranchMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">On Hong Kong Limited Macau Branch</link:label>
    <link:label id="lab_onholdingag_OnHongKongLimitedMacauBranchMember_label_en-US" xlink:label="lab_onholdingag_OnHongKongLimitedMacauBranchMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">On Hong Kong Limited Macau Branch [Member]</link:label>
    <link:label id="lab_onholdingag_OnHongKongLimitedMacauBranchMember_documentation_en-US" xlink:label="lab_onholdingag_OnHongKongLimitedMacauBranchMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">On Hong Kong Limited Macau Branch</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_OnHongKongLimitedMacauBranchMember" xlink:href="onholdingag-20260630.xsd#onholdingag_OnHongKongLimitedMacauBranchMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_OnHongKongLimitedMacauBranchMember" xlink:to="lab_onholdingag_OnHongKongLimitedMacauBranchMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill_019eeebf-a8dd-77f8-9b9e-2a96d977bf99_terseLabel_en-US" xlink:label="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additions</link:label>
    <link:label id="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill_label_en-US" xlink:label="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additions other than through business combinations, intangible assets other than goodwill</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:to="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_SalesChannelsAxis_019eeebf-a98c-75c2-be20-f4f6e7e11550_terseLabel_en-US" xlink:label="lab_ifrs-full_SalesChannelsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sales channels [axis]</link:label>
    <link:label id="lab_ifrs-full_SalesChannelsAxis_label_en-US" xlink:label="lab_ifrs-full_SalesChannelsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sales channels [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_SalesChannelsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_SalesChannelsAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_SalesChannelsAxis" xlink:to="lab_ifrs-full_SalesChannelsAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ClassesOfContingentLiabilitiesDomain_019eeebf-a98c-7d31-94fb-17b493e3def0_terseLabel_en-US" xlink:label="lab_ifrs-full_ClassesOfContingentLiabilitiesDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of contingent liabilities</link:label>
    <link:label id="lab_ifrs-full_ClassesOfContingentLiabilitiesDomain_label_en-US" xlink:label="lab_ifrs-full_ClassesOfContingentLiabilitiesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of contingent liabilities [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ClassesOfContingentLiabilitiesDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ClassesOfContingentLiabilitiesDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ClassesOfContingentLiabilitiesDomain" xlink:to="lab_ifrs-full_ClassesOfContingentLiabilitiesDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory_019eeebf-a98c-7679-8140-fbfbcb0a6735_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Selling, general and administrative expenses</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of general and administrative expense [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory"/>
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    <link:label id="lab_ifrs-full_FinanceIncome_019eeebf-a98c-79b3-9c3c-7b092c027adc_terseLabel_en-US" xlink:label="lab_ifrs-full_FinanceIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial income</link:label>
    <link:label id="lab_ifrs-full_FinanceIncome_019eeebf-a98c-7754-a204-003378fed7d4_totalLabel_en-US" xlink:label="lab_ifrs-full_FinanceIncome" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Financial income</link:label>
    <link:label id="lab_ifrs-full_FinanceIncome_label_en-US" xlink:label="lab_ifrs-full_FinanceIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finance income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinanceIncome" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_FinanceIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinanceIncome" xlink:to="lab_ifrs-full_FinanceIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_AssetsPledgedAsSecurityForLiabilities_019eeebf-a8dd-706b-baaf-ae722afccc5a_totalLabel_en-US" xlink:label="lab_onholdingag_AssetsPledgedAsSecurityForLiabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Assets pledged</link:label>
    <link:label id="lab_onholdingag_AssetsPledgedAsSecurityForLiabilities_label_en-US" xlink:label="lab_onholdingag_AssetsPledgedAsSecurityForLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets Pledged As Security For Liabilities</link:label>
    <link:label id="lab_onholdingag_AssetsPledgedAsSecurityForLiabilities_documentation_en-US" xlink:label="lab_onholdingag_AssetsPledgedAsSecurityForLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Assets Pledged As Security For Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_AssetsPledgedAsSecurityForLiabilities" xlink:href="onholdingag-20260630.xsd#onholdingag_AssetsPledgedAsSecurityForLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_AssetsPledgedAsSecurityForLiabilities" xlink:to="lab_onholdingag_AssetsPledgedAsSecurityForLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows_019eeebf-a98c-77ac-b98e-8a9230e789e5_terseLabel_en-US" xlink:label="lab_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trade payables</link:label>
    <link:label id="lab_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows_label_en-US" xlink:label="lab_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade and other payables, undiscounted cash flows</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows" xlink:to="lab_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ClassesOfFinancialLiabilitiesAxis_019eeebf-a8dd-7448-9056-6ad19c403faf_terseLabel_en-US" xlink:label="lab_ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of financial liabilities [axis]</link:label>
    <link:label id="lab_ifrs-full_ClassesOfFinancialLiabilitiesAxis_label_en-US" xlink:label="lab_ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of financial liabilities [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ClassesOfFinancialLiabilitiesAxis"/>
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    <link:label id="lab_ifrs-full_ClassesOfFinancialLiabilitiesDomain_019eeebf-a8dd-7d09-bb4d-5e05013de178_terseLabel_en-US" xlink:label="lab_ifrs-full_ClassesOfFinancialLiabilitiesDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of financial liabilities [domain]</link:label>
    <link:label id="lab_ifrs-full_ClassesOfFinancialLiabilitiesDomain_label_en-US" xlink:label="lab_ifrs-full_ClassesOfFinancialLiabilitiesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of financial liabilities [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ClassesOfFinancialLiabilitiesDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ClassesOfFinancialLiabilitiesDomain"/>
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    <link:label id="lab_ifrs-full_DisclosureOfOtherProvisionsLineItems_019eeebf-a8dd-7155-810e-26c8caf867a0_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfOtherProvisionsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of Provisions [Line Items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfOtherProvisionsLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfOtherProvisionsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of other provisions [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfOtherProvisionsLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfOtherProvisionsLineItems"/>
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    <link:label id="lab_ifrs-full_AdditionsToRightofuseAssets_019eeebf-a98c-7e92-81b6-7debe4e3cfac_terseLabel_en-US" xlink:label="lab_ifrs-full_AdditionsToRightofuseAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additions</link:label>
    <link:label id="lab_ifrs-full_AdditionsToRightofuseAssets_label_en-US" xlink:label="lab_ifrs-full_AdditionsToRightofuseAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additions to right-of-use assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdditionsToRightofuseAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AdditionsToRightofuseAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdditionsToRightofuseAssets" xlink:to="lab_ifrs-full_AdditionsToRightofuseAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ShorttermMiscellaneousOtherProvisions_019eeebf-a98c-7382-b703-0a6b02d06a15_terseLabel_en-US" xlink:label="lab_ifrs-full_ShorttermMiscellaneousOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other current financial liabilities</link:label>
    <link:label id="lab_ifrs-full_ShorttermMiscellaneousOtherProvisions_label_en-US" xlink:label="lab_ifrs-full_ShorttermMiscellaneousOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current miscellaneous other provisions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ShorttermMiscellaneousOtherProvisions" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ShorttermMiscellaneousOtherProvisions"/>
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    <link:label id="lab_ifrs-full_DisclosureOfOtherProvisionsExplanatory_019eeebf-a98d-790c-95f8-736177a00634_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfOtherProvisionsExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Provisions</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfOtherProvisionsExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfOtherProvisionsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of other provisions [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfOtherProvisionsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfOtherProvisionsExplanatory"/>
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    <link:label id="lab_onholdingag_OnExperience131LLCMember_019f5ba8-341c-77b6-8ed9-0b50262a1bbe_terseLabel_en-US" xlink:label="lab_onholdingag_OnExperience131LLCMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">On Experience 1 - 31, LLC</link:label>
    <link:label id="lab_onholdingag_OnExperience131LLCMember_label_en-US" xlink:label="lab_onholdingag_OnExperience131LLCMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">On Experience 1 - 31, LLC [Member]</link:label>
    <link:label id="lab_onholdingag_OnExperience131LLCMember_documentation_en-US" xlink:label="lab_onholdingag_OnExperience131LLCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">On Experience 1 - 31, LLC</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_OnExperience131LLCMember" xlink:href="onholdingag-20260630.xsd#onholdingag_OnExperience131LLCMember"/>
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    <link:label id="lab_country_BE_019eeebf-a8dd-76d2-bf3c-03b89113b531_terseLabel_en-US" xlink:label="lab_country_BE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Belgium</link:label>
    <link:label id="lab_country_BE_label_en-US" xlink:label="lab_country_BE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">BELGIUM</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_country_BE" xlink:href="https://xbrl.sec.gov/country/2025/country-2025.xsd#country_BE"/>
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    <link:label id="lab_ifrs-full_GoodwillExpectedDeductibleForTaxPurposes_019eeebf-a98c-76d4-9e30-e5a6a6f19404_terseLabel_en-US" xlink:label="lab_ifrs-full_GoodwillExpectedDeductibleForTaxPurposes" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Goodwill expected to be deductible for tax purposes</link:label>
    <link:label id="lab_ifrs-full_GoodwillExpectedDeductibleForTaxPurposes_label_en-US" xlink:label="lab_ifrs-full_GoodwillExpectedDeductibleForTaxPurposes" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goodwill expected to be deductible for tax purposes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GoodwillExpectedDeductibleForTaxPurposes" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_GoodwillExpectedDeductibleForTaxPurposes"/>
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    <link:label id="lab_ifrs-full_DisclosureOfReconciliationOfChangesInLossAllowanceAndExplanationOfChangesInGrossCarryingAmountForFinancialInstrumentsTable_019eeebf-a8dd-7814-8720-b0ded9a996aa_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfReconciliationOfChangesInLossAllowanceAndExplanationOfChangesInGrossCarryingAmountForFinancialInstrumentsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [table]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfFinancialAssetsAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfFinancialAssetsAbstract"/>
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    <link:label id="lab_onholdingag_IEEPATariffsRecoveryMember_019fcd83-e7c0-7e8d-8b63-cb98068c92c3_terseLabel_en-US" xlink:label="lab_onholdingag_IEEPATariffsRecoveryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">IEEPA Tariffs Recovery</link:label>
    <link:label id="lab_onholdingag_IEEPATariffsRecoveryMember_label_en-US" xlink:label="lab_onholdingag_IEEPATariffsRecoveryMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">IEEPA Tariffs Recovery [Member]</link:label>
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    <link:label id="lab_ifrs-full_SharePremiumMember_019eeebf-a8dd-7ac1-822a-aa3cf6cb3bfc_terseLabel_en-US" xlink:label="lab_ifrs-full_SharePremiumMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share premium</link:label>
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    <link:label id="lab_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_019eeebf-a98c-7b1c-9954-d77e7a65f5ef_totalLabel_en-US" xlink:label="lab_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total comprehensive income / (loss)</link:label>
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    <link:label id="lab_ifrs-full_IssuedCapital_019eeebf-a8dd-769e-ae7b-7a49134cf732_terseLabel_en-US" xlink:label="lab_ifrs-full_IssuedCapital" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share capital</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IssuedCapital" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_IssuedCapital"/>
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    <link:label id="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesTable_019eeebf-a98c-79ad-872c-8b40b48f2c64_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of subsidiaries [table]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesTable"/>
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    <link:label id="lab_ifrs-full_CategoriesOfFinancialAssetsAxis_label_en-US" xlink:label="lab_ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Categories of financial assets [axis]</link:label>
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    <link:label id="lab_onholdingag_ContingenciesIEEPATariffsPaidSubjectToRefund_019f5bf6-bd88-72df-a8f3-ab2c032e2cc9_terseLabel_en-US" xlink:label="lab_onholdingag_ContingenciesIEEPATariffsPaidSubjectToRefund" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">IEEPA contingencies, tariffs paid subject to refund</link:label>
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    <link:label id="lab_onholdingag_OnRunningMexicoS.DeR.L.DeC.V.Member_019f5bad-3b18-7f9a-93cd-be87f13a0406_terseLabel_en-US" xlink:label="lab_onholdingag_OnRunningMexicoS.DeR.L.DeC.V.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">On Running M&#233;xico, S. de R.L. de C.V.</link:label>
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    <link:label id="lab_ifrs-full_CurrentTaxLiabilitiesCurrent_019eeebf-a98c-79e7-8907-796385c0ee21_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income tax liabilities</link:label>
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    <link:label id="lab_onholdingag_OnKoreaLtdMember_019eeebf-a98c-797f-995c-740ddef2781c_terseLabel_en-US" xlink:label="lab_onholdingag_OnKoreaLtdMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">On Korea Ltd.</link:label>
    <link:label id="lab_onholdingag_OnKoreaLtdMember_label_en-US" xlink:label="lab_onholdingag_OnKoreaLtdMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">On Korea Ltd. [Member]</link:label>
    <link:label id="lab_onholdingag_OnKoreaLtdMember_documentation_en-US" xlink:label="lab_onholdingag_OnKoreaLtdMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">On Korea Ltd.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_OnKoreaLtdMember" xlink:href="onholdingag-20260630.xsd#onholdingag_OnKoreaLtdMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_OnKoreaLtdMember" xlink:to="lab_onholdingag_OnKoreaLtdMember" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_ConsolidatedStatementsOfIncomeLossTable_019eeebf-a8dd-79d0-85ba-a335a891473b_terseLabel_en-US" xlink:label="lab_onholdingag_ConsolidatedStatementsOfIncomeLossTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated Statements Of Income [Table]</link:label>
    <link:label id="lab_onholdingag_ConsolidatedStatementsOfIncomeLossTable_label_en-US" xlink:label="lab_onholdingag_ConsolidatedStatementsOfIncomeLossTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidated Statements Of Income (Loss) [Table]</link:label>
    <link:label id="lab_onholdingag_ConsolidatedStatementsOfIncomeLossTable_documentation_en-US" xlink:label="lab_onholdingag_ConsolidatedStatementsOfIncomeLossTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Consolidated Statements Of Income (Loss) [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_ConsolidatedStatementsOfIncomeLossTable" xlink:href="onholdingag-20260630.xsd#onholdingag_ConsolidatedStatementsOfIncomeLossTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_ConsolidatedStatementsOfIncomeLossTable" xlink:to="lab_onholdingag_ConsolidatedStatementsOfIncomeLossTable" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_BankOverdraftFacilityFourCHFMember_019eeebf-a8dd-7811-8817-31424b46afb1_terseLabel_en-US" xlink:label="lab_onholdingag_BankOverdraftFacilityFourCHFMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bank overdraft facility four, CHF</link:label>
    <link:label id="lab_onholdingag_BankOverdraftFacilityFourCHFMember_label_en-US" xlink:label="lab_onholdingag_BankOverdraftFacilityFourCHFMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bank Overdraft Facility Four, CHF [Member]</link:label>
    <link:label id="lab_onholdingag_BankOverdraftFacilityFourCHFMember_documentation_en-US" xlink:label="lab_onholdingag_BankOverdraftFacilityFourCHFMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Bank Overdraft Facility Four, CHF</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_BankOverdraftFacilityFourCHFMember" xlink:href="onholdingag-20260630.xsd#onholdingag_BankOverdraftFacilityFourCHFMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_BankOverdraftFacilityFourCHFMember" xlink:to="lab_onholdingag_BankOverdraftFacilityFourCHFMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_019eeebf-a98c-72f6-9a7c-97994513da3d_terseLabel_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Currency Translation</link:label>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_label_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) through net exchange differences, property, plant and equipment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:to="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentValueAddedTaxPayables_019eeebf-a98c-7a8f-b635-1571015c7117_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentValueAddedTaxPayables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Indirect taxes (VAT/GST) payables</link:label>
    <link:label id="lab_ifrs-full_CurrentValueAddedTaxPayables_label_en-US" xlink:label="lab_ifrs-full_CurrentValueAddedTaxPayables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current value added tax payables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentValueAddedTaxPayables" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CurrentValueAddedTaxPayables"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentValueAddedTaxPayables" xlink:to="lab_ifrs-full_CurrentValueAddedTaxPayables" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherProvisions_019eeebf-a8dd-7221-90e9-9607522b3289_periodStartLabel_en-US" xlink:label="lab_ifrs-full_OtherProvisions" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance</link:label>
    <link:label id="lab_ifrs-full_OtherProvisions_019eeebf-a8dd-70cd-9f92-f5ddb462776e_periodEndLabel_en-US" xlink:label="lab_ifrs-full_OtherProvisions" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</link:label>
    <link:label id="lab_ifrs-full_OtherProvisions_label_en-US" xlink:label="lab_ifrs-full_OtherProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other provisions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherProvisions" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OtherProvisions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherProvisions" xlink:to="lab_ifrs-full_OtherProvisions" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProductsAndServicesAxis_019eeebf-a98c-7ac6-a63a-b9d3e39aa43a_terseLabel_en-US" xlink:label="lab_ifrs-full_ProductsAndServicesAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Products and services [axis]</link:label>
    <link:label id="lab_ifrs-full_ProductsAndServicesAxis_label_en-US" xlink:label="lab_ifrs-full_ProductsAndServicesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Products and services [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProductsAndServicesAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ProductsAndServicesAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProductsAndServicesAxis" xlink:to="lab_ifrs-full_ProductsAndServicesAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable_019eeebf-a98c-7204-b5ce-391ca53e18c7_terseLabel_en-US" xlink:label="lab_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trade payables</link:label>
    <link:label id="lab_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable_label_en-US" xlink:label="lab_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for increase (decrease) in trade accounts payable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:to="lab_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FinancialLiabilities_019f6a35-f826-7560-81f8-ef64fd2e6b92_totalLabel_en-US" xlink:label="lab_ifrs-full_FinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total other current and non-current financial liabilities</link:label>
    <link:label id="lab_ifrs-full_FinancialLiabilities_label_en-US" xlink:label="lab_ifrs-full_FinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_FinancialLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinancialLiabilities" xlink:to="lab_ifrs-full_FinancialLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfReservesWithinEquityLineItems_019eeebf-a8dd-71b3-8713-df86b0489eb4_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfReservesWithinEquityLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of reserves within equity [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfReservesWithinEquityLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfReservesWithinEquityLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of reserves within equity [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfReservesWithinEquityLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfReservesWithinEquityLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfReservesWithinEquityLineItems" xlink:to="lab_ifrs-full_DisclosureOfReservesWithinEquityLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherPropertyPlantAndEquipmentMember_019eeebf-a8dd-7efc-a02c-c05688b5205d_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherPropertyPlantAndEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_ifrs-full_OtherPropertyPlantAndEquipmentMember_label_en-US" xlink:label="lab_ifrs-full_OtherPropertyPlantAndEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other property, plant and equipment [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherPropertyPlantAndEquipmentMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OtherPropertyPlantAndEquipmentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherPropertyPlantAndEquipmentMember" xlink:to="lab_ifrs-full_OtherPropertyPlantAndEquipmentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfReservesWithinEquityAbstract_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfReservesWithinEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of reserves within equity [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfReservesWithinEquityAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfReservesWithinEquityAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfReservesWithinEquityAbstract" xlink:to="lab_ifrs-full_DisclosureOfReservesWithinEquityAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncomeTaxExpenseContinuingOperations_019eeebf-a98c-720e-908c-ecb7d8183c41_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Income tax benefit / (expense)</link:label>
    <link:label id="lab_ifrs-full_IncomeTaxExpenseContinuingOperations_019eeebf-a98c-7ff9-869d-117c4ee7871a_negatedTotalLabel_en-US" xlink:label="lab_ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Income tax (expense) / benefit</link:label>
    <link:label id="lab_ifrs-full_IncomeTaxExpenseContinuingOperations_label_en-US" xlink:label="lab_ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax expense (income)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_IncomeTaxExpenseContinuingOperations"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:to="lab_ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_LeaseLiabilitiesMember_019eeebf-a98c-707c-ae92-f8ef4ec64340_verboseLabel_en-US" xlink:label="lab_ifrs-full_LeaseLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Lease liabilities</link:label>
    <link:label id="lab_ifrs-full_LeaseLiabilitiesMember_label_en-US" xlink:label="lab_ifrs-full_LeaseLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lease liabilities [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LeaseLiabilitiesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_LeaseLiabilitiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_LeaseLiabilitiesMember" xlink:to="lab_ifrs-full_LeaseLiabilitiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_NumberOfOperatingSegments_019eeebf-a98c-77e7-b607-5f1a012d069f_terseLabel_en-US" xlink:label="lab_onholdingag_NumberOfOperatingSegments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of operating segments</link:label>
    <link:label id="lab_onholdingag_NumberOfOperatingSegments_label_en-US" xlink:label="lab_onholdingag_NumberOfOperatingSegments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Operating Segments</link:label>
    <link:label id="lab_onholdingag_NumberOfOperatingSegments_documentation_en-US" xlink:label="lab_onholdingag_NumberOfOperatingSegments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of Operating Segments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_NumberOfOperatingSegments" xlink:href="onholdingag-20260630.xsd#onholdingag_NumberOfOperatingSegments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_NumberOfOperatingSegments" xlink:to="lab_onholdingag_NumberOfOperatingSegments" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory_019eeebf-a98c-7b18-b939-6c8bcac3c917_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Events after the balance sheet date</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of events after reporting period [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:to="lab_ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_OnItalySrlMember_019eeebf-a8dd-75fa-9f70-b27d94558579_terseLabel_en-US" xlink:label="lab_onholdingag_OnItalySrlMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">On Italy S.r.l.</link:label>
    <link:label id="lab_onholdingag_OnItalySrlMember_label_en-US" xlink:label="lab_onholdingag_OnItalySrlMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">On Italy S.r.l. [Member]</link:label>
    <link:label id="lab_onholdingag_OnItalySrlMember_documentation_en-US" xlink:label="lab_onholdingag_OnItalySrlMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">On Italy S.r.l.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_OnItalySrlMember" xlink:href="onholdingag-20260630.xsd#onholdingag_OnItalySrlMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_OnItalySrlMember" xlink:to="lab_onholdingag_OnItalySrlMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AdjustmentsForFinanceIncomeCost_019eeebf-a98c-7263-b994-5f8ff209b430_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_AdjustmentsForFinanceIncomeCost" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Interest income and expenses</link:label>
    <link:label id="lab_ifrs-full_AdjustmentsForFinanceIncomeCost_label_en-US" xlink:label="lab_ifrs-full_AdjustmentsForFinanceIncomeCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for finance income (cost)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdjustmentsForFinanceIncomeCost" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AdjustmentsForFinanceIncomeCost"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdjustmentsForFinanceIncomeCost" xlink:to="lab_ifrs-full_AdjustmentsForFinanceIncomeCost" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_RightOfUseAssetsIncreaseDecreaseDueToModificationOfLeaseTerms_019eeebf-a98c-7bad-8cb8-0e451b4b3a91_terseLabel_en-US" xlink:label="lab_onholdingag_RightOfUseAssetsIncreaseDecreaseDueToModificationOfLeaseTerms" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lease modification</link:label>
    <link:label id="lab_onholdingag_RightOfUseAssetsIncreaseDecreaseDueToModificationOfLeaseTerms_label_en-US" xlink:label="lab_onholdingag_RightOfUseAssetsIncreaseDecreaseDueToModificationOfLeaseTerms" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Right-Of-Use Assets, Increase (Decrease) Due To Modification Of Lease Terms</link:label>
    <link:label id="lab_onholdingag_RightOfUseAssetsIncreaseDecreaseDueToModificationOfLeaseTerms_documentation_en-US" xlink:label="lab_onholdingag_RightOfUseAssetsIncreaseDecreaseDueToModificationOfLeaseTerms" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Right-Of-Use Assets, Increase (Decrease) Due To Modification Of Lease Terms</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_RightOfUseAssetsIncreaseDecreaseDueToModificationOfLeaseTerms" xlink:href="onholdingag-20260630.xsd#onholdingag_RightOfUseAssetsIncreaseDecreaseDueToModificationOfLeaseTerms"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_RightOfUseAssetsIncreaseDecreaseDueToModificationOfLeaseTerms" xlink:to="lab_onholdingag_RightOfUseAssetsIncreaseDecreaseDueToModificationOfLeaseTerms" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_OnVietnamCompanyLtdMember_019eeebf-a98d-7610-866c-9308ee3bcc89_terseLabel_en-US" xlink:label="lab_onholdingag_OnVietnamCompanyLtdMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">On Vietnam Co. Ltd.</link:label>
    <link:label id="lab_onholdingag_OnVietnamCompanyLtdMember_label_en-US" xlink:label="lab_onholdingag_OnVietnamCompanyLtdMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">On Vietnam Company Ltd. [Member]</link:label>
    <link:label id="lab_onholdingag_OnVietnamCompanyLtdMember_documentation_en-US" xlink:label="lab_onholdingag_OnVietnamCompanyLtdMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">On Vietnam Company Ltd.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_OnVietnamCompanyLtdMember" xlink:href="onholdingag-20260630.xsd#onholdingag_OnVietnamCompanyLtdMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_OnVietnamCompanyLtdMember" xlink:to="lab_onholdingag_OnVietnamCompanyLtdMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_SellingGeneralAndAdministrativeExpense_019eeebf-a98c-7d59-b9bf-56669bd6f510_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Selling, general and administrative expenses</link:label>
    <link:label id="lab_ifrs-full_SellingGeneralAndAdministrativeExpense_019eeebf-a98c-7f0c-abbb-14caf6b12754_negatedTotalLabel_en-US" xlink:label="lab_ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Selling, general and administrative expenses</link:label>
    <link:label id="lab_ifrs-full_SellingGeneralAndAdministrativeExpense_label_en-US" xlink:label="lab_ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Selling, general and administrative expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_SellingGeneralAndAdministrativeExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:to="lab_ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentPeriodEndDate_019eeebf-a98c-7461-b846-46f1ac3e8f24_terseLabel_en-US" xlink:label="lab_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document period end date</link:label>
    <link:label id="lab_dei_DocumentPeriodEndDate_label_en-US" xlink:label="lab_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentPeriodEndDate" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentPeriodEndDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentPeriodEndDate" xlink:to="lab_dei_DocumentPeriodEndDate" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentTaxExpenseIncome_019eeebf-a8dd-7fee-b23c-d57d00656471_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_CurrentTaxExpenseIncome" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Current income tax expense</link:label>
    <link:label id="lab_ifrs-full_CurrentTaxExpenseIncome_label_en-US" xlink:label="lab_ifrs-full_CurrentTaxExpenseIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current tax expense (income)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentTaxExpenseIncome" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CurrentTaxExpenseIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentTaxExpenseIncome" xlink:to="lab_ifrs-full_CurrentTaxExpenseIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis_019eeebf-a8dd-7b76-8e98-f161da355110_terseLabel_en-US" xlink:label="lab_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-adjusting events after reporting period [axis]</link:label>
    <link:label id="lab_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis_label_en-US" xlink:label="lab_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-adjusting events after reporting period [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_NonadjustingEventsAfterReportingPeriodAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="lab_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember_019eeebf-a98c-7223-824f-4c3ecba18b70_terseLabel_en-US" xlink:label="lab_ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Due 1 to 5 years</link:label>
    <link:label id="lab_ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember_label_en-US" xlink:label="lab_ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than one year and not later than five years [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:to="lab_ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NonadjustingEventsAfterReportingPeriodDomain_019eeebf-a98c-7cb7-a13c-41b989df97d5_terseLabel_en-US" xlink:label="lab_ifrs-full_NonadjustingEventsAfterReportingPeriodDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-adjusting events after reporting period [domain]</link:label>
    <link:label id="lab_ifrs-full_NonadjustingEventsAfterReportingPeriodDomain_label_en-US" xlink:label="lab_ifrs-full_NonadjustingEventsAfterReportingPeriodDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-adjusting events after reporting period [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NonadjustingEventsAfterReportingPeriodDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_NonadjustingEventsAfterReportingPeriodDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NonadjustingEventsAfterReportingPeriodDomain" xlink:to="lab_ifrs-full_NonadjustingEventsAfterReportingPeriodDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_CommitmentsAndContingenciesAbstract_label_en-US" xlink:label="lab_onholdingag_CommitmentsAndContingenciesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies [Abstract]</link:label>
    <link:label id="lab_onholdingag_CommitmentsAndContingenciesAbstract_documentation_en-US" xlink:label="lab_onholdingag_CommitmentsAndContingenciesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">contignecies [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_CommitmentsAndContingenciesAbstract" xlink:href="onholdingag-20260630.xsd#onholdingag_CommitmentsAndContingenciesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_CommitmentsAndContingenciesAbstract" xlink:to="lab_onholdingag_CommitmentsAndContingenciesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems_019eeebf-a98c-7d5b-9dca-fb1cabb9888c_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of classes of share capital [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of classes of share capital [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems" xlink:to="lab_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_IncreaseDecreaseInForeignExchangeGainLoss_019eeebf-a98d-7a2a-9053-b2600e91189b_terseLabel_en-US" xlink:label="lab_onholdingag_IncreaseDecreaseInForeignExchangeGainLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase (decrease) in foreign exchange gain (loss)</link:label>
    <link:label id="lab_onholdingag_IncreaseDecreaseInForeignExchangeGainLoss_label_en-US" xlink:label="lab_onholdingag_IncreaseDecreaseInForeignExchangeGainLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) In Foreign Exchange Gain (Loss)</link:label>
    <link:label id="lab_onholdingag_IncreaseDecreaseInForeignExchangeGainLoss_documentation_en-US" xlink:label="lab_onholdingag_IncreaseDecreaseInForeignExchangeGainLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase (Decrease) In Foreign Exchange Gain (Loss)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_IncreaseDecreaseInForeignExchangeGainLoss" xlink:href="onholdingag-20260630.xsd#onholdingag_IncreaseDecreaseInForeignExchangeGainLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_IncreaseDecreaseInForeignExchangeGainLoss" xlink:to="lab_onholdingag_IncreaseDecreaseInForeignExchangeGainLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NotLaterThanThreeMonthsMember_019eeebf-a8dd-78f6-a59c-9d2976859c74_terseLabel_en-US" xlink:label="lab_ifrs-full_NotLaterThanThreeMonthsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Due within 3 months</link:label>
    <link:label id="lab_ifrs-full_NotLaterThanThreeMonthsMember_label_en-US" xlink:label="lab_ifrs-full_NotLaterThanThreeMonthsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Not later than three months [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NotLaterThanThreeMonthsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_NotLaterThanThreeMonthsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NotLaterThanThreeMonthsMember" xlink:to="lab_ifrs-full_NotLaterThanThreeMonthsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesRightofuseAssets_019eeebf-a98c-754f-9f46-9d9dc6e4a04d_terseLabel_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesRightofuseAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Currency Translation</link:label>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesRightofuseAssets_label_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesRightofuseAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) through net exchange differences, right-of-use assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesRightofuseAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesRightofuseAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesRightofuseAssets" xlink:to="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesRightofuseAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_NoncashOrPartNoncashAcquisitionAcquiredFixedAssets_019eeebf-a98c-7255-baae-1c20feb30572_terseLabel_en-US" xlink:label="lab_onholdingag_NoncashOrPartNoncashAcquisitionAcquiredFixedAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-cash additions of property, plant and equipment</link:label>
    <link:label id="lab_onholdingag_NoncashOrPartNoncashAcquisitionAcquiredFixedAssets_label_en-US" xlink:label="lab_onholdingag_NoncashOrPartNoncashAcquisitionAcquiredFixedAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncash or Part Noncash Acquisition, Acquired Fixed Assets</link:label>
    <link:label id="lab_onholdingag_NoncashOrPartNoncashAcquisitionAcquiredFixedAssets_documentation_en-US" xlink:label="lab_onholdingag_NoncashOrPartNoncashAcquisitionAcquiredFixedAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Noncash or Part Noncash Acquisition, Acquired Fixed Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_NoncashOrPartNoncashAcquisitionAcquiredFixedAssets" xlink:href="onholdingag-20260630.xsd#onholdingag_NoncashOrPartNoncashAcquisitionAcquiredFixedAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_NoncashOrPartNoncashAcquisitionAcquiredFixedAssets" xlink:to="lab_onholdingag_NoncashOrPartNoncashAcquisitionAcquiredFixedAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_MaturityAxis_019eeebf-a8dd-756b-91aa-f04ec2600c48_terseLabel_en-US" xlink:label="lab_ifrs-full_MaturityAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maturity [axis]</link:label>
    <link:label id="lab_ifrs-full_MaturityAxis_label_en-US" xlink:label="lab_ifrs-full_MaturityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maturity [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_MaturityAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_MaturityAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_MaturityAxis" xlink:to="lab_ifrs-full_MaturityAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_SaleOrIssueOfTreasuryShares_019eeebf-a8dd-7f7f-ab84-d400e379d7fe_terseLabel_en-US" xlink:label="lab_ifrs-full_SaleOrIssueOfTreasuryShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale of treasury shares</link:label>
    <link:label id="lab_ifrs-full_SaleOrIssueOfTreasuryShares_label_en-US" xlink:label="lab_ifrs-full_SaleOrIssueOfTreasuryShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale or issue of treasury shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_SaleOrIssueOfTreasuryShares" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_SaleOrIssueOfTreasuryShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_SaleOrIssueOfTreasuryShares" xlink:to="lab_ifrs-full_SaleOrIssueOfTreasuryShares" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_EarningsPerShareLineItems_019eeebf-a8dd-705f-b05f-5805f71fbec8_terseLabel_en-US" xlink:label="lab_ifrs-full_EarningsPerShareLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Earnings per share [line items]</link:label>
    <link:label id="lab_ifrs-full_EarningsPerShareLineItems_label_en-US" xlink:label="lab_ifrs-full_EarningsPerShareLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings per share [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EarningsPerShareLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_EarningsPerShareLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EarningsPerShareLineItems" xlink:to="lab_ifrs-full_EarningsPerShareLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IntangibleAssetsAndGoodwillAbstract_label_en-US" xlink:label="lab_ifrs-full_IntangibleAssetsAndGoodwillAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible assets and goodwill [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IntangibleAssetsAndGoodwillAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_IntangibleAssetsAndGoodwillAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IntangibleAssetsAndGoodwillAbstract" xlink:to="lab_ifrs-full_IntangibleAssetsAndGoodwillAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_FinancialIncomeExpense_019eeebf-a8dd-7b8b-a93c-f289495a4282_totalLabel_en-US" xlink:label="lab_onholdingag_FinancialIncomeExpense" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Financial result</link:label>
    <link:label id="lab_onholdingag_FinancialIncomeExpense_label_en-US" xlink:label="lab_onholdingag_FinancialIncomeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Income (Expense)</link:label>
    <link:label id="lab_onholdingag_FinancialIncomeExpense_documentation_en-US" xlink:label="lab_onholdingag_FinancialIncomeExpense" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financial Income (Expense)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_FinancialIncomeExpense" xlink:href="onholdingag-20260630.xsd#onholdingag_FinancialIncomeExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_FinancialIncomeExpense" xlink:to="lab_onholdingag_FinancialIncomeExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ResearchAndDevelopmentExpense_019eeebf-a98c-7018-8382-9ffb5d9a7035_terseLabel_en-US" xlink:label="lab_ifrs-full_ResearchAndDevelopmentExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Research and development expense</link:label>
    <link:label id="lab_ifrs-full_ResearchAndDevelopmentExpense_label_en-US" xlink:label="lab_ifrs-full_ResearchAndDevelopmentExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Research and development expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ResearchAndDevelopmentExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ResearchAndDevelopmentExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ResearchAndDevelopmentExpense" xlink:to="lab_ifrs-full_ResearchAndDevelopmentExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_WarehouseMember_019eeebf-a98d-7ca7-853c-0f6a09c807d1_terseLabel_en-US" xlink:label="lab_srt_WarehouseMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Storage</link:label>
    <link:label id="lab_srt_WarehouseMember_label_en-US" xlink:label="lab_srt_WarehouseMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Warehouse [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_WarehouseMember" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_WarehouseMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_WarehouseMember" xlink:to="lab_srt_WarehouseMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentType_019eeebf-a8dd-7dbb-92ef-52de0aa71b58_terseLabel_en-US" xlink:label="lab_dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document type</link:label>
    <link:label id="lab_dei_DocumentType_label_en-US" xlink:label="lab_dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentType" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentType"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentType" xlink:to="lab_dei_DocumentType" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees_019eeebf-a98d-7e68-9e20-b70e70a44b11_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Share-based compensation</link:label>
    <link:label id="lab_ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees_label_en-US" xlink:label="lab_ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expense from share-based payment transactions with employees</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:to="lab_ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ClassesOfFinancialAssetsAxis_019eeebf-a8dd-700b-a44d-2624f4f43093_terseLabel_en-US" xlink:label="lab_ifrs-full_ClassesOfFinancialAssetsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of financial assets [axis]</link:label>
    <link:label id="lab_ifrs-full_ClassesOfFinancialAssetsAxis_label_en-US" xlink:label="lab_ifrs-full_ClassesOfFinancialAssetsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of financial assets [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ClassesOfFinancialAssetsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ClassesOfFinancialAssetsAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ClassesOfFinancialAssetsAxis" xlink:to="lab_ifrs-full_ClassesOfFinancialAssetsAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_LongServiceLeaveMember_019eeebf-a8dd-75fe-b294-968d355f7f07_terseLabel_en-US" xlink:label="lab_onholdingag_LongServiceLeaveMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-service leave</link:label>
    <link:label id="lab_onholdingag_LongServiceLeaveMember_label_en-US" xlink:label="lab_onholdingag_LongServiceLeaveMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Service Leave [Member]</link:label>
    <link:label id="lab_onholdingag_LongServiceLeaveMember_documentation_en-US" xlink:label="lab_onholdingag_LongServiceLeaveMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long-Service Leave</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_LongServiceLeaveMember" xlink:href="onholdingag-20260630.xsd#onholdingag_LongServiceLeaveMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_LongServiceLeaveMember" xlink:to="lab_onholdingag_LongServiceLeaveMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_GrossLeaseLiabilities_019eeebf-a98c-74b1-9ab3-e4a06217013d_terseLabel_en-US" xlink:label="lab_ifrs-full_GrossLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitments for future lease related obligations</link:label>
    <link:label id="lab_ifrs-full_GrossLeaseLiabilities_label_en-US" xlink:label="lab_ifrs-full_GrossLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gross lease liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GrossLeaseLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_GrossLeaseLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_GrossLeaseLiabilities" xlink:to="lab_ifrs-full_GrossLeaseLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax_019eeebf-aa07-7c35-b862-de1fce38b091_totalLabel_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Items that will not be reclassified to income statement</link:label>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax_label_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other comprehensive income that will not be reclassified to profit or loss, net of tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:to="lab_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncomeStatementAbstract_label_en-US" xlink:label="lab_ifrs-full_IncomeStatementAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit or loss [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncomeStatementAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_IncomeStatementAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncomeStatementAbstract" xlink:to="lab_ifrs-full_IncomeStatementAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_EarningsPerShareTable_019eeebf-a98d-76a9-9d4a-3920e46c5583_terseLabel_en-US" xlink:label="lab_ifrs-full_EarningsPerShareTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Earnings per share [table]</link:label>
    <link:label id="lab_ifrs-full_EarningsPerShareTable_label_en-US" xlink:label="lab_ifrs-full_EarningsPerShareTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings per share [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EarningsPerShareTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_EarningsPerShareTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EarningsPerShareTable" xlink:to="lab_ifrs-full_EarningsPerShareTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract_019eeebf-a8dd-70f2-88a4-cd97fea28129_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of financial liabilities [abstract]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of financial liabilities [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfFinancialLiabilitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract" xlink:to="lab_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_019eeebf-a8dd-72b1-9c60-d4eed6054ec1_terseLabel_en-US" xlink:label="lab_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Carrying amount, accumulated depreciation, amortisation and impairment and gross carrying amount [axis]</link:label>
    <link:label id="lab_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_label_en-US" xlink:label="lab_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Carrying amount, accumulated depreciation, amortisation and impairment and gross carrying amount [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:to="lab_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ClassesOfAssetsAxis_019eeebf-a98c-75b8-882d-586cae9e9c15_terseLabel_en-US" xlink:label="lab_ifrs-full_ClassesOfAssetsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of assets [axis]</link:label>
    <link:label id="lab_ifrs-full_ClassesOfAssetsAxis_label_en-US" xlink:label="lab_ifrs-full_ClassesOfAssetsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of assets [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ClassesOfAssetsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ClassesOfAssetsAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ClassesOfAssetsAxis" xlink:to="lab_ifrs-full_ClassesOfAssetsAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_SaleOfTreasurySharesShares_019eeebf-a98c-7ea5-80d9-2a9217d31d90_terseLabel_en-US" xlink:label="lab_onholdingag_SaleOfTreasurySharesShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale of treasury shares related to share-based compensation (in shares)</link:label>
    <link:label id="lab_onholdingag_SaleOfTreasurySharesShares_label_en-US" xlink:label="lab_onholdingag_SaleOfTreasurySharesShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale Of Treasury Shares, Shares</link:label>
    <link:label id="lab_onholdingag_SaleOfTreasurySharesShares_documentation_en-US" xlink:label="lab_onholdingag_SaleOfTreasurySharesShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sale Of Treasury Shares, Shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_SaleOfTreasurySharesShares" xlink:href="onholdingag-20260630.xsd#onholdingag_SaleOfTreasurySharesShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_SaleOfTreasurySharesShares" xlink:to="lab_onholdingag_SaleOfTreasurySharesShares" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_OnRunningCanadaIncMember_019eeebf-a98c-7cb7-aa86-ea0b4c8df887_terseLabel_en-US" xlink:label="lab_onholdingag_OnRunningCanadaIncMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">On Running Canada Inc.</link:label>
    <link:label id="lab_onholdingag_OnRunningCanadaIncMember_label_en-US" xlink:label="lab_onholdingag_OnRunningCanadaIncMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">On Running Canada Inc. [Member]</link:label>
    <link:label id="lab_onholdingag_OnRunningCanadaIncMember_documentation_en-US" xlink:label="lab_onholdingag_OnRunningCanadaIncMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">On Running Canada Inc.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_OnRunningCanadaIncMember" xlink:href="onholdingag-20260630.xsd#onholdingag_OnRunningCanadaIncMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_OnRunningCanadaIncMember" xlink:to="lab_onholdingag_OnRunningCanadaIncMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_BorrowingsByNameDomain_019eeebf-a8dd-7e9a-b843-d8acd861146a_terseLabel_en-US" xlink:label="lab_ifrs-full_BorrowingsByNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Borrowings by name [domain]</link:label>
    <link:label id="lab_ifrs-full_BorrowingsByNameDomain_label_en-US" xlink:label="lab_ifrs-full_BorrowingsByNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Borrowings by name [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_BorrowingsByNameDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_BorrowingsByNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_BorrowingsByNameDomain" xlink:to="lab_ifrs-full_BorrowingsByNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_TradeReceivablesMember_019eeebf-a8dd-7aab-bf24-558c861a5b44_terseLabel_en-US" xlink:label="lab_ifrs-full_TradeReceivablesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other receivables</link:label>
    <link:label id="lab_ifrs-full_TradeReceivablesMember_label_en-US" xlink:label="lab_ifrs-full_TradeReceivablesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade receivables [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TradeReceivablesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_TradeReceivablesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TradeReceivablesMember" xlink:to="lab_ifrs-full_TradeReceivablesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_RevenueFromContractsWithCustomers_019eeebf-a98c-7879-b39a-f4c7d4ad2d1f_terseLabel_en-US" xlink:label="lab_ifrs-full_RevenueFromContractsWithCustomers" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net sales</link:label>
    <link:label id="lab_ifrs-full_RevenueFromContractsWithCustomers_label_en-US" xlink:label="lab_ifrs-full_RevenueFromContractsWithCustomers" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue from contracts with customers</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RevenueFromContractsWithCustomers" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_RevenueFromContractsWithCustomers"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RevenueFromContractsWithCustomers" xlink:to="lab_ifrs-full_RevenueFromContractsWithCustomers" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_EarningsPerShareAbstract_019eeebf-a98c-78fa-aa12-97e624ab17a0_terseLabel_en-US" xlink:label="lab_ifrs-full_EarningsPerShareAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Earnings per share</link:label>
    <link:label id="lab_ifrs-full_EarningsPerShareAbstract_label_en-US" xlink:label="lab_ifrs-full_EarningsPerShareAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings per share [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EarningsPerShareAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_EarningsPerShareAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EarningsPerShareAbstract" xlink:to="lab_ifrs-full_EarningsPerShareAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_OnHongKongLtdMember_019eeebf-a8dd-7c47-a4b2-efb3dde599cb_terseLabel_en-US" xlink:label="lab_onholdingag_OnHongKongLtdMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">On Hong Kong Ltd.</link:label>
    <link:label id="lab_onholdingag_OnHongKongLtdMember_label_en-US" xlink:label="lab_onholdingag_OnHongKongLtdMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">On Hong Kong Ltd. [Member]</link:label>
    <link:label id="lab_onholdingag_OnHongKongLtdMember_documentation_en-US" xlink:label="lab_onholdingag_OnHongKongLtdMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">On Hong Kong Ltd.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_OnHongKongLtdMember" xlink:href="onholdingag-20260630.xsd#onholdingag_OnHongKongLtdMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_OnHongKongLtdMember" xlink:to="lab_onholdingag_OnHongKongLtdMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ComponentsOfEquityAxis_019eeebf-a98c-7a63-9f9f-1d7409b0a5b6_terseLabel_en-US" xlink:label="lab_ifrs-full_ComponentsOfEquityAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Components of equity [axis]</link:label>
    <link:label id="lab_ifrs-full_ComponentsOfEquityAxis_label_en-US" xlink:label="lab_ifrs-full_ComponentsOfEquityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Components of equity [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ComponentsOfEquityAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ComponentsOfEquityAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ComponentsOfEquityAxis" xlink:to="lab_ifrs-full_ComponentsOfEquityAxis" xlink:type="arc" order="1"/>
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    <link:label id="lab_ifrs-full_DisclosureOfFinancialLiabilitiesExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialLiabilitiesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of financial liabilities [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfFinancialLiabilitiesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfFinancialLiabilitiesExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfFinancialLiabilitiesExplanatory" xlink:to="lab_ifrs-full_DisclosureOfFinancialLiabilitiesExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfReconciliationOfChangesInLossAllowanceAndExplanationOfChangesInGrossCarryingAmountForFinancialInstrumentsLineItems_019eeebf-a8dd-78af-a747-5ac466fbdc1d_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfReconciliationOfChangesInLossAllowanceAndExplanationOfChangesInGrossCarryingAmountForFinancialInstrumentsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfReconciliationOfChangesInLossAllowanceAndExplanationOfChangesInGrossCarryingAmountForFinancialInstrumentsLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfReconciliationOfChangesInLossAllowanceAndExplanationOfChangesInGrossCarryingAmountForFinancialInstrumentsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfReconciliationOfChangesInLossAllowanceAndExplanationOfChangesInGrossCarryingAmountForFinancialInstrumentsLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfReconciliationOfChangesInLossAllowanceAndExplanationOfChangesInGrossCarryingAmountForFinancialInstrumentsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfReconciliationOfChangesInLossAllowanceAndExplanationOfChangesInGrossCarryingAmountForFinancialInstrumentsLineItems" xlink:to="lab_ifrs-full_DisclosureOfReconciliationOfChangesInLossAllowanceAndExplanationOfChangesInGrossCarryingAmountForFinancialInstrumentsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems_019eeebf-a8dd-717f-b948-8d714bc67750_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of financial liabilities [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of financial liabilities [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfFinancialLiabilitiesLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems" xlink:to="lab_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DeferredTaxLiabilities_019eeebf-a98c-7bcf-938b-c27c31a8a4af_verboseLabel_en-US" xlink:label="lab_ifrs-full_DeferredTaxLiabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Deferred tax liabilities</link:label>
    <link:label id="lab_ifrs-full_DeferredTaxLiabilities_label_en-US" xlink:label="lab_ifrs-full_DeferredTaxLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DeferredTaxLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DeferredTaxLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DeferredTaxLiabilities" xlink:to="lab_ifrs-full_DeferredTaxLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProfitLossBeforeTax_019eeebf-a8dd-7037-a78d-0aed779db945_totalLabel_en-US" xlink:label="lab_ifrs-full_ProfitLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Income / (loss) before taxes</link:label>
    <link:label id="lab_ifrs-full_ProfitLossBeforeTax_label_en-US" xlink:label="lab_ifrs-full_ProfitLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit (loss) before tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProfitLossBeforeTax" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ProfitLossBeforeTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProfitLossBeforeTax" xlink:to="lab_ifrs-full_ProfitLossBeforeTax" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities_019eeebf-a8dd-7bab-acf4-8506504200a7_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Income taxes paid</link:label>
    <link:label id="lab_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities_label_en-US" xlink:label="lab_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income taxes paid (refund), classified as operating activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:to="lab_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncome_019eeebf-a8dd-727a-ae29-8c56ce2061a9_totalLabel_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Other comprehensive income / (loss), net of tax</link:label>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncome_019eeebf-a8dd-76d5-83e1-79bcecbffca8_netLabel_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Other comprehensive income (loss)</link:label>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncome_label_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other comprehensive income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncome" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OtherComprehensiveIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncome" xlink:to="lab_ifrs-full_OtherComprehensiveIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CapitalReserve_019eeebf-a8dd-70ad-94b1-577a880b6233_terseLabel_en-US" xlink:label="lab_ifrs-full_CapitalReserve" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital reserves</link:label>
    <link:label id="lab_ifrs-full_CapitalReserve_label_en-US" xlink:label="lab_ifrs-full_CapitalReserve" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital reserve</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CapitalReserve" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CapitalReserve"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CapitalReserve" xlink:to="lab_ifrs-full_CapitalReserve" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_SellingExpense_019eeebf-a98c-7eff-b058-f8a7467cecee_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_SellingExpense" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Selling expenses</link:label>
    <link:label id="lab_ifrs-full_SellingExpense_label_en-US" xlink:label="lab_ifrs-full_SellingExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Selling expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_SellingExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_SellingExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_SellingExpense" xlink:to="lab_ifrs-full_SellingExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherShorttermProvisions_019eeebf-aa07-7dd3-91a8-82cab8b51aa2_verboseLabel_en-US" xlink:label="lab_ifrs-full_OtherShorttermProvisions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Current provisions</link:label>
    <link:label id="lab_ifrs-full_OtherShorttermProvisions_019eeebf-aa07-7fba-9c3d-932d0fa5cb3b_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherShorttermProvisions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">thereof current</link:label>
    <link:label id="lab_ifrs-full_OtherShorttermProvisions_label_en-US" xlink:label="lab_ifrs-full_OtherShorttermProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other current provisions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherShorttermProvisions" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OtherShorttermProvisions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherShorttermProvisions" xlink:to="lab_ifrs-full_OtherShorttermProvisions" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_OnBrazilLtdaMember_019eeebf-a8dd-7099-995a-b07168b2f9ba_terseLabel_en-US" xlink:label="lab_onholdingag_OnBrazilLtdaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">On Brazil Ltda</link:label>
    <link:label id="lab_onholdingag_OnBrazilLtdaMember_label_en-US" xlink:label="lab_onholdingag_OnBrazilLtdaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">On Brazil Ltda. [Member]</link:label>
    <link:label id="lab_onholdingag_OnBrazilLtdaMember_documentation_en-US" xlink:label="lab_onholdingag_OnBrazilLtdaMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">On Brazil Ltda.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_OnBrazilLtdaMember" xlink:href="onholdingag-20260630.xsd#onholdingag_OnBrazilLtdaMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_OnBrazilLtdaMember" xlink:to="lab_onholdingag_OnBrazilLtdaMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_TreasurySharesMember_019eeebf-a98c-73a5-aa14-017529fef984_terseLabel_en-US" xlink:label="lab_ifrs-full_TreasurySharesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Treasury shares</link:label>
    <link:label id="lab_ifrs-full_TreasurySharesMember_label_en-US" xlink:label="lab_ifrs-full_TreasurySharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Treasury shares [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TreasurySharesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_TreasurySharesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TreasurySharesMember" xlink:to="lab_ifrs-full_TreasurySharesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges_019eeebf-a98c-72e2-9d3f-1d452dab1c37_totalLabel_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Change in net cash and cash equivalents</link:label>
    <link:label id="lab_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges_label_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) in cash and cash equivalents before effect of exchange rate changes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges"/>
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    <link:label id="lab_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense_019eeebf-a8dd-7377-a875-8ed1ef7f5f62_terseLabel_en-US" xlink:label="lab_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization</link:label>
    <link:label id="lab_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense_label_en-US" xlink:label="lab_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for depreciation and amortisation expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense"/>
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    <link:label id="lab_srt_AsiaPacificMember_019eeebf-a98c-73e4-9fb7-450dc3edfc65_terseLabel_en-US" xlink:label="lab_srt_AsiaPacificMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asia-Pacific ("APAC")</link:label>
    <link:label id="lab_srt_AsiaPacificMember_label_en-US" xlink:label="lab_srt_AsiaPacificMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asia Pacific [Member]</link:label>
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    <link:label id="lab_ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory_019eeebf-a98c-7764-ab31-1ce309a3474e_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share capital</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of share capital, reserves and other equity interest [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" xlink:to="lab_ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems_019eeebf-a8dd-7081-97a1-36a1b429df71_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of subsidiaries [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of subsidiaries [line items]</link:label>
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    <link:label id="lab_ifrs-full_OtherCurrentAssets_019eeebf-a8dd-7547-af3f-73e2cf6d46a0_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherCurrentAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other current operating assets</link:label>
    <link:label id="lab_ifrs-full_OtherCurrentAssets_label_en-US" xlink:label="lab_ifrs-full_OtherCurrentAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other current assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherCurrentAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OtherCurrentAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherCurrentAssets" xlink:to="lab_ifrs-full_OtherCurrentAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersAbstract_019eeebf-aa07-74fd-85a4-6a94cc11bdeb_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of disaggregation of revenue from contracts with customers [abstract]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersAbstract_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of disaggregation of revenue from contracts with customers [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersAbstract" xlink:to="lab_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfOtherProvisionsTable_019eeebf-a8dd-76df-b9c9-e7dbc5e11eb0_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfOtherProvisionsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of Provisions [Table]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfOtherProvisionsTable_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfOtherProvisionsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of other provisions [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfOtherProvisionsTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfOtherProvisionsTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfOtherProvisionsTable" xlink:to="lab_ifrs-full_DisclosureOfOtherProvisionsTable" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_ReserveForActuarialGainsAndLossesBeforeTaxMember_019eeebf-a8dd-771c-a7d7-25821e8cc31e_terseLabel_en-US" xlink:label="lab_onholdingag_ReserveForActuarialGainsAndLossesBeforeTaxMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Actuarial gains and losses</link:label>
    <link:label id="lab_onholdingag_ReserveForActuarialGainsAndLossesBeforeTaxMember_label_en-US" xlink:label="lab_onholdingag_ReserveForActuarialGainsAndLossesBeforeTaxMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reserve For Actuarial Gains And Losses Before Tax [Member]</link:label>
    <link:label id="lab_onholdingag_ReserveForActuarialGainsAndLossesBeforeTaxMember_documentation_en-US" xlink:label="lab_onholdingag_ReserveForActuarialGainsAndLossesBeforeTaxMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Reserve For Actuarial Gains And Losses Before Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_ReserveForActuarialGainsAndLossesBeforeTaxMember" xlink:href="onholdingag-20260630.xsd#onholdingag_ReserveForActuarialGainsAndLossesBeforeTaxMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_ReserveForActuarialGainsAndLossesBeforeTaxMember" xlink:to="lab_onholdingag_ReserveForActuarialGainsAndLossesBeforeTaxMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherLongtermProvisions_019eeebf-a8dd-71a0-9180-09c2b5b41881_verboseLabel_en-US" xlink:label="lab_ifrs-full_OtherLongtermProvisions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Non-current provisions</link:label>
    <link:label id="lab_ifrs-full_OtherLongtermProvisions_019eeebf-a8dd-7c3f-9af5-20d8a4c9f8d0_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherLongtermProvisions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">thereof non-current</link:label>
    <link:label id="lab_ifrs-full_OtherLongtermProvisions_label_en-US" xlink:label="lab_ifrs-full_OtherLongtermProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other non-current provisions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherLongtermProvisions" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OtherLongtermProvisions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherLongtermProvisions" xlink:to="lab_ifrs-full_OtherLongtermProvisions" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_GroupCashPoolParticipantsMember_019eeebf-a8dd-7030-8c11-19c41ef51cbb_terseLabel_en-US" xlink:label="lab_onholdingag_GroupCashPoolParticipantsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Group cash pool participants</link:label>
    <link:label id="lab_onholdingag_GroupCashPoolParticipantsMember_label_en-US" xlink:label="lab_onholdingag_GroupCashPoolParticipantsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Group Cash Pool Participants [Member]</link:label>
    <link:label id="lab_onholdingag_GroupCashPoolParticipantsMember_documentation_en-US" xlink:label="lab_onholdingag_GroupCashPoolParticipantsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Group Cash Pool Participants</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_GroupCashPoolParticipantsMember" xlink:href="onholdingag-20260630.xsd#onholdingag_GroupCashPoolParticipantsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_GroupCashPoolParticipantsMember" xlink:to="lab_onholdingag_GroupCashPoolParticipantsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_LineOfCreditFacilityMaximumBorrowingCapacityOptionToIncreaseAmount_019eeebf-a98d-76d4-a75f-4637575aeffa_terseLabel_en-US" xlink:label="lab_onholdingag_LineOfCreditFacilityMaximumBorrowingCapacityOptionToIncreaseAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Line of credit facility option to increase amount</link:label>
    <link:label id="lab_onholdingag_LineOfCreditFacilityMaximumBorrowingCapacityOptionToIncreaseAmount_label_en-US" xlink:label="lab_onholdingag_LineOfCreditFacilityMaximumBorrowingCapacityOptionToIncreaseAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line Of Credit Facility, Maximum Borrowing Capacity, Option To Increase, Amount</link:label>
    <link:label id="lab_onholdingag_LineOfCreditFacilityMaximumBorrowingCapacityOptionToIncreaseAmount_documentation_en-US" xlink:label="lab_onholdingag_LineOfCreditFacilityMaximumBorrowingCapacityOptionToIncreaseAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Line Of Credit Facility, Maximum Borrowing Capacity, Option To Increase, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_LineOfCreditFacilityMaximumBorrowingCapacityOptionToIncreaseAmount" xlink:href="onholdingag-20260630.xsd#onholdingag_LineOfCreditFacilityMaximumBorrowingCapacityOptionToIncreaseAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_LineOfCreditFacilityMaximumBorrowingCapacityOptionToIncreaseAmount" xlink:to="lab_onholdingag_LineOfCreditFacilityMaximumBorrowingCapacityOptionToIncreaseAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_NumberOfCoFounders_019eeebf-a98c-7794-8304-212820ebc8c2_terseLabel_en-US" xlink:label="lab_onholdingag_NumberOfCoFounders" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of co-founders</link:label>
    <link:label id="lab_onholdingag_NumberOfCoFounders_label_en-US" xlink:label="lab_onholdingag_NumberOfCoFounders" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Co-Founders</link:label>
    <link:label id="lab_onholdingag_NumberOfCoFounders_documentation_en-US" xlink:label="lab_onholdingag_NumberOfCoFounders" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Co-Founders</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_NumberOfCoFounders" xlink:href="onholdingag-20260630.xsd#onholdingag_NumberOfCoFounders"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_NumberOfCoFounders" xlink:to="lab_onholdingag_NumberOfCoFounders" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_InterestReceivedClassifiedAsOperatingActivities_019eeebf-a98d-7892-b28b-f335affe9917_terseLabel_en-US" xlink:label="lab_ifrs-full_InterestReceivedClassifiedAsOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest received</link:label>
    <link:label id="lab_ifrs-full_InterestReceivedClassifiedAsOperatingActivities_label_en-US" xlink:label="lab_ifrs-full_InterestReceivedClassifiedAsOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest received, classified as operating activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_InterestReceivedClassifiedAsOperatingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_InterestReceivedClassifiedAsOperatingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_InterestReceivedClassifiedAsOperatingActivities" xlink:to="lab_ifrs-full_InterestReceivedClassifiedAsOperatingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_OtherProvisionsMember_019eeebf-a98c-7d63-bd5c-04d1eb2fc31b_terseLabel_en-US" xlink:label="lab_onholdingag_OtherProvisionsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_onholdingag_OtherProvisionsMember_label_en-US" xlink:label="lab_onholdingag_OtherProvisionsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Provisions [Member]</link:label>
    <link:label id="lab_onholdingag_OtherProvisionsMember_documentation_en-US" xlink:label="lab_onholdingag_OtherProvisionsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Provisions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_OtherProvisionsMember" xlink:href="onholdingag-20260630.xsd#onholdingag_OtherProvisionsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_OtherProvisionsMember" xlink:to="lab_onholdingag_OtherProvisionsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AttributionOfExpensesByNatureToTheirFunctionDomain_019eeebf-a8dd-74f6-bb6b-3ab2d796a92f_terseLabel_en-US" xlink:label="lab_ifrs-full_AttributionOfExpensesByNatureToTheirFunctionDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Attribution of expenses by nature to their function [domain]</link:label>
    <link:label id="lab_ifrs-full_AttributionOfExpensesByNatureToTheirFunctionDomain_label_en-US" xlink:label="lab_ifrs-full_AttributionOfExpensesByNatureToTheirFunctionDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Attribution of expenses by nature to their function [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AttributionOfExpensesByNatureToTheirFunctionDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AttributionOfExpensesByNatureToTheirFunctionDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AttributionOfExpensesByNatureToTheirFunctionDomain" xlink:to="lab_ifrs-full_AttributionOfExpensesByNatureToTheirFunctionDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_ClassBVotingSharesMember_019eeebf-a8dd-7a94-9914-8ba2858f7af6_terseLabel_en-US" xlink:label="lab_onholdingag_ClassBVotingSharesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class B</link:label>
    <link:label id="lab_onholdingag_ClassBVotingSharesMember_label_en-US" xlink:label="lab_onholdingag_ClassBVotingSharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class B Voting Shares [Member]</link:label>
    <link:label id="lab_onholdingag_ClassBVotingSharesMember_documentation_en-US" xlink:label="lab_onholdingag_ClassBVotingSharesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Class B Voting Shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_ClassBVotingSharesMember" xlink:href="onholdingag-20260630.xsd#onholdingag_ClassBVotingSharesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_ClassBVotingSharesMember" xlink:to="lab_onholdingag_ClassBVotingSharesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition_019eeebf-a8dd-745e-8bb6-f7fee58d9e8a_periodStartLabel_en-US" xlink:label="lab_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Net cash and cash equivalents at January 1</link:label>
    <link:label id="lab_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition_019eeebf-a8dd-7b04-9cfe-14c53af28dd0_periodEndLabel_en-US" xlink:label="lab_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Net cash and cash equivalents at June 30</link:label>
    <link:label id="lab_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition_label_en-US" xlink:label="lab_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents if different from statement of financial position</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:to="lab_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProductsAndServicesDomain_019eeebf-a8dd-7d24-9f28-01c4d3156008_terseLabel_en-US" xlink:label="lab_ifrs-full_ProductsAndServicesDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Products and services [domain]</link:label>
    <link:label id="lab_ifrs-full_ProductsAndServicesDomain_label_en-US" xlink:label="lab_ifrs-full_ProductsAndServicesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Products and services [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProductsAndServicesDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ProductsAndServicesDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProductsAndServicesDomain" xlink:to="lab_ifrs-full_ProductsAndServicesDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_WeightedAverageShares_019eeebf-a8dd-7b1d-9d4d-c1c5f96a1d7e_terseLabel_en-US" xlink:label="lab_ifrs-full_WeightedAverageShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted number of outstanding shares (in shares)</link:label>
    <link:label id="lab_ifrs-full_WeightedAverageShares_label_en-US" xlink:label="lab_ifrs-full_WeightedAverageShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted average number of ordinary shares used in calculating basic earnings per share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_WeightedAverageShares" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_WeightedAverageShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_WeightedAverageShares" xlink:to="lab_ifrs-full_WeightedAverageShares" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_SignificantInvestmentsInSubsidiariesDomain_019eeebf-a98c-7358-8455-404c87de713a_terseLabel_en-US" xlink:label="lab_ifrs-full_SignificantInvestmentsInSubsidiariesDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsidiaries [domain]</link:label>
    <link:label id="lab_ifrs-full_SignificantInvestmentsInSubsidiariesDomain_label_en-US" xlink:label="lab_ifrs-full_SignificantInvestmentsInSubsidiariesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsidiaries [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_SignificantInvestmentsInSubsidiariesDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_SignificantInvestmentsInSubsidiariesDomain" xlink:to="lab_ifrs-full_SignificantInvestmentsInSubsidiariesDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_LongtermMiscellaneousOtherProvisions_019eeebf-a8dd-7cef-8ae2-3a9798d1d11c_verboseLabel_en-US" xlink:label="lab_ifrs-full_LongtermMiscellaneousOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other non-current financial liabilities</link:label>
    <link:label id="lab_ifrs-full_LongtermMiscellaneousOtherProvisions_label_en-US" xlink:label="lab_ifrs-full_LongtermMiscellaneousOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-current miscellaneous other provisions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LongtermMiscellaneousOtherProvisions" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_LongtermMiscellaneousOtherProvisions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_LongtermMiscellaneousOtherProvisions" xlink:to="lab_ifrs-full_LongtermMiscellaneousOtherProvisions" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_ContingenciesIEEPATaxClaimSubmittedThroughRefundProcessing_019f5bf6-bd88-79e9-a5e5-46e57e025b1c_terseLabel_en-US" xlink:label="lab_onholdingag_ContingenciesIEEPATaxClaimSubmittedThroughRefundProcessing" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">IEEPA contingencies, tax claim submitted through refund processing</link:label>
    <link:label id="lab_onholdingag_ContingenciesIEEPATaxClaimSubmittedThroughRefundProcessing_label_en-US" xlink:label="lab_onholdingag_ContingenciesIEEPATaxClaimSubmittedThroughRefundProcessing" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contingencies, IEEPA Tax Claim Submitted Through Refund Processing</link:label>
    <link:label id="lab_onholdingag_ContingenciesIEEPATaxClaimSubmittedThroughRefundProcessing_documentation_en-US" xlink:label="lab_onholdingag_ContingenciesIEEPATaxClaimSubmittedThroughRefundProcessing" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Contingencies, IEEPA Tax Claim Submitted Through Refund Processing</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_ContingenciesIEEPATaxClaimSubmittedThroughRefundProcessing" xlink:href="onholdingag-20260630.xsd#onholdingag_ContingenciesIEEPATaxClaimSubmittedThroughRefundProcessing"/>
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    <link:label id="lab_ifrs-full_BorrowingsByNameAxis_019eeebf-a98d-7fad-b8c5-f501862721b3_terseLabel_en-US" xlink:label="lab_ifrs-full_BorrowingsByNameAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Borrowings by name [axis]</link:label>
    <link:label id="lab_ifrs-full_BorrowingsByNameAxis_label_en-US" xlink:label="lab_ifrs-full_BorrowingsByNameAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Borrowings by name [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_BorrowingsByNameAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_BorrowingsByNameAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_BorrowingsByNameAxis" xlink:to="lab_ifrs-full_BorrowingsByNameAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill_019eeebf-a8dd-7b2d-9ef6-d9163b489f44_terseLabel_en-US" xlink:label="lab_ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impairment loss recognised in profit or loss, goodwill</link:label>
    <link:label id="lab_ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill_label_en-US" xlink:label="lab_ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impairment loss recognised in profit or loss, goodwill</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:to="lab_ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ContingentLiabilityForGuaranteesMember_019eeebf-a8dd-76a1-8ea3-19943a5d6eca_terseLabel_en-US" xlink:label="lab_ifrs-full_ContingentLiabilityForGuaranteesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contingent liability for guarantees</link:label>
    <link:label id="lab_ifrs-full_ContingentLiabilityForGuaranteesMember_label_en-US" xlink:label="lab_ifrs-full_ContingentLiabilityForGuaranteesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contingent liability for guarantees [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ContingentLiabilityForGuaranteesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ContingentLiabilityForGuaranteesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ContingentLiabilityForGuaranteesMember" xlink:to="lab_ifrs-full_ContingentLiabilityForGuaranteesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfIntangibleAssetsTable_019eeebf-a8dd-7e28-bd99-2f3564f86b85_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfIntangibleAssetsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about intangible assets [table]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfIntangibleAssetsTable_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfIntangibleAssetsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about intangible assets [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfIntangibleAssetsTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfIntangibleAssetsTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfIntangibleAssetsTable" xlink:to="lab_ifrs-full_DisclosureOfIntangibleAssetsTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory_019eeebf-a98c-76ce-8c0a-323e75ef4919_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Share Capital Outstanding</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of classes of share capital [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory"/>
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    <link:label id="lab_ifrs-full_OtherReserves_019eeebf-a8dd-7e0d-9ce5-89d3686ba452_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherReserves" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other reserves</link:label>
    <link:label id="lab_ifrs-full_OtherReserves_label_en-US" xlink:label="lab_ifrs-full_OtherReserves" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other reserves</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherReserves" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OtherReserves"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherReserves" xlink:to="lab_ifrs-full_OtherReserves" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_Borrowings_019eeebf-a98d-7e86-902a-ffb3ddd67d9e_terseLabel_en-US" xlink:label="lab_ifrs-full_Borrowings" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Borrowings</link:label>
    <link:label id="lab_ifrs-full_Borrowings_label_en-US" xlink:label="lab_ifrs-full_Borrowings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Borrowings</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Borrowings" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_Borrowings"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_Borrowings" xlink:to="lab_ifrs-full_Borrowings" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AccumulatedImpairmentMember_019eeebf-a98c-7542-928e-306418ee88cf_terseLabel_en-US" xlink:label="lab_ifrs-full_AccumulatedImpairmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expected credit loss</link:label>
    <link:label id="lab_ifrs-full_AccumulatedImpairmentMember_019eeebf-a98c-71d9-9678-93cf7f6884b6_verboseLabel_en-US" xlink:label="lab_ifrs-full_AccumulatedImpairmentMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Allowances</link:label>
    <link:label id="lab_ifrs-full_AccumulatedImpairmentMember_label_en-US" xlink:label="lab_ifrs-full_AccumulatedImpairmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated impairment [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AccumulatedImpairmentMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AccumulatedImpairmentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AccumulatedImpairmentMember" xlink:to="lab_ifrs-full_AccumulatedImpairmentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_ConsolidatedStatementsOfIncomeLossLineItems_019eeebf-a98c-7388-b4ff-f925a7d8dd7d_terseLabel_en-US" xlink:label="lab_onholdingag_ConsolidatedStatementsOfIncomeLossLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated Statements Of Income [Line Items]</link:label>
    <link:label id="lab_onholdingag_ConsolidatedStatementsOfIncomeLossLineItems_label_en-US" xlink:label="lab_onholdingag_ConsolidatedStatementsOfIncomeLossLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidated Statements Of Income (Loss) [Line Items]</link:label>
    <link:label id="lab_onholdingag_ConsolidatedStatementsOfIncomeLossLineItems_documentation_en-US" xlink:label="lab_onholdingag_ConsolidatedStatementsOfIncomeLossLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Consolidated Statements Of Income (Loss) [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_ConsolidatedStatementsOfIncomeLossLineItems" xlink:href="onholdingag-20260630.xsd#onholdingag_ConsolidatedStatementsOfIncomeLossLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_ConsolidatedStatementsOfIncomeLossLineItems" xlink:to="lab_onholdingag_ConsolidatedStatementsOfIncomeLossLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory_019eeebf-a8dd-7463-b6e2-8dc40145b67e_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitments and contingencies</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of commitments and contingent liabilities [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:to="lab_ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfFinancialInstrumentsExplanatory_019eeebf-a98c-7cf6-81ac-0374fe4e954c_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialInstrumentsExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other current financial assets</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfFinancialInstrumentsExplanatory_019eeebf-a98c-7152-a274-cf2a3b8ed2e7_verboseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialInstrumentsExplanatory" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Financial liabilities</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfFinancialInstrumentsExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialInstrumentsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of financial instruments [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfFinancialInstrumentsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfFinancialInstrumentsExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfFinancialInstrumentsExplanatory" xlink:to="lab_ifrs-full_DisclosureOfFinancialInstrumentsExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory_019eeebf-a98c-73f6-8766-5f5783893220_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Property, Plant and Equipment</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about property, plant and equipment [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory"/>
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    <link:label id="lab_ifrs-full_DisclosureOfReservesAndOtherEquityInterestExplanatory_019eeebf-a8dd-743b-902c-4df208f367b2_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfReservesAndOtherEquityInterestExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital and other reserves</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfReservesAndOtherEquityInterestExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfReservesAndOtherEquityInterestExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of reserves within equity [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfReservesAndOtherEquityInterestExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfReservesAndOtherEquityInterestExplanatory"/>
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    <link:label id="lab_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillDomain_019eeebf-a8dd-773b-82e9-a4232d9b268d_terseLabel_en-US" xlink:label="lab_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of intangible assets and goodwill [domain]</link:label>
    <link:label id="lab_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillDomain_label_en-US" xlink:label="lab_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of intangible assets and goodwill [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ClassesOfIntangibleAssetsAndGoodwillDomain"/>
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    <link:label id="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities_019eeebf-a98d-722c-a61e-1ad065a5589f_totalLabel_en-US" xlink:label="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Cash (outflow) from investing activities</link:label>
    <link:label id="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities_label_en-US" xlink:label="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from (used in) investing activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities"/>
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    <link:label id="lab_onholdingag_EuropeMiddleEastAndAfricaMember_019eeebf-a98c-73d3-a768-98643e9ff863_terseLabel_en-US" xlink:label="lab_onholdingag_EuropeMiddleEastAndAfricaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Europe, Middle East and Africa ("EMEA")</link:label>
    <link:label id="lab_onholdingag_EuropeMiddleEastAndAfricaMember_label_en-US" xlink:label="lab_onholdingag_EuropeMiddleEastAndAfricaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Europe, Middle East And Africa [Member]</link:label>
    <link:label id="lab_onholdingag_EuropeMiddleEastAndAfricaMember_documentation_en-US" xlink:label="lab_onholdingag_EuropeMiddleEastAndAfricaMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Europe, Middle East And Africa</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_EuropeMiddleEastAndAfricaMember" xlink:href="onholdingag-20260630.xsd#onholdingag_EuropeMiddleEastAndAfricaMember"/>
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    <link:label id="lab_ifrs-full_MajorCustomersDomain_019f8a54-7126-74ad-bf44-dd4a2e42e04e_terseLabel_en-US" xlink:label="lab_ifrs-full_MajorCustomersDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Major customers [domain]</link:label>
    <link:label id="lab_ifrs-full_MajorCustomersDomain_label_en-US" xlink:label="lab_ifrs-full_MajorCustomersDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Major customers [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_MajorCustomersDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_MajorCustomersDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_MajorCustomersDomain" xlink:to="lab_ifrs-full_MajorCustomersDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherLongtermBenefits_019eeebf-a8dd-7bdd-a730-6346528f13c1_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherLongtermBenefits" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total personnel expenses excluding costs related to share based compensation</link:label>
    <link:label id="lab_ifrs-full_OtherLongtermBenefits_label_en-US" xlink:label="lab_ifrs-full_OtherLongtermBenefits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other long-term employee benefits</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherLongtermBenefits" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OtherLongtermBenefits"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherLongtermBenefits" xlink:to="lab_ifrs-full_OtherLongtermBenefits" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_InventoriesAbstract_label_en-US" xlink:label="lab_onholdingag_InventoriesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Inventories [Abstract]</link:label>
    <link:label id="lab_onholdingag_InventoriesAbstract_documentation_en-US" xlink:label="lab_onholdingag_InventoriesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Inventories [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_InventoriesAbstract" xlink:href="onholdingag-20260630.xsd#onholdingag_InventoriesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_InventoriesAbstract" xlink:to="lab_onholdingag_InventoriesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfIntangibleAssetsLineItems_019eeebf-a8dd-7cf0-9a1a-2bf31c6522d8_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfIntangibleAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about intangible assets [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfIntangibleAssetsLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfIntangibleAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about intangible assets [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfIntangibleAssetsLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfIntangibleAssetsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfIntangibleAssetsLineItems" xlink:to="lab_ifrs-full_DisclosureOfIntangibleAssetsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_NumberOfCoCEO_019f9354-58b9-7433-a14a-e77b20da965a_terseLabel_en-US" xlink:label="lab_onholdingag_NumberOfCoCEO" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of co-CEO</link:label>
    <link:label id="lab_onholdingag_NumberOfCoCEO_label_en-US" xlink:label="lab_onholdingag_NumberOfCoCEO" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Co-CEO</link:label>
    <link:label id="lab_onholdingag_NumberOfCoCEO_documentation_en-US" xlink:label="lab_onholdingag_NumberOfCoCEO" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Co-CEO</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_NumberOfCoCEO" xlink:href="onholdingag-20260630.xsd#onholdingag_NumberOfCoCEO"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_NumberOfCoCEO" xlink:to="lab_onholdingag_NumberOfCoCEO" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities_019eeebf-a8dd-7dae-b5e9-b30ef9126a46_totalLabel_en-US" xlink:label="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Cash (outflow) from financing activities</link:label>
    <link:label id="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities_label_en-US" xlink:label="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from (used in) financing activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill_019eeebf-a98c-76d4-9d51-dd226b7d3fad_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Depreciation</link:label>
    <link:label id="lab_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill_label_en-US" xlink:label="lab_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortisation, intangible assets other than goodwill</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:to="lab_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CopyrightsPatentsAndOtherIndustrialPropertyRightsServiceAndOperatingRightsMember_019eeebf-a98c-7a1e-a5d7-84a540cf6c6e_terseLabel_en-US" xlink:label="lab_ifrs-full_CopyrightsPatentsAndOtherIndustrialPropertyRightsServiceAndOperatingRightsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Patents, licenses and other rights</link:label>
    <link:label id="lab_ifrs-full_CopyrightsPatentsAndOtherIndustrialPropertyRightsServiceAndOperatingRightsMember_label_en-US" xlink:label="lab_ifrs-full_CopyrightsPatentsAndOtherIndustrialPropertyRightsServiceAndOperatingRightsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Copyrights, patents and other industrial property rights, service and operating rights [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CopyrightsPatentsAndOtherIndustrialPropertyRightsServiceAndOperatingRightsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CopyrightsPatentsAndOtherIndustrialPropertyRightsServiceAndOperatingRightsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CopyrightsPatentsAndOtherIndustrialPropertyRightsServiceAndOperatingRightsMember" xlink:to="lab_ifrs-full_CopyrightsPatentsAndOtherIndustrialPropertyRightsServiceAndOperatingRightsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncreaseDecreaseInWorkingCapital_019eeebf-a98c-7ea0-984c-4fbf5a2d0f5a_negatedTotalLabel_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Change in working capital</link:label>
    <link:label id="lab_ifrs-full_IncreaseDecreaseInWorkingCapital_label_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) in working capital</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_IncreaseDecreaseInWorkingCapital"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:to="lab_ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentAssets_019eeebf-a98c-764d-aa56-ec8351ad97ee_totalLabel_en-US" xlink:label="lab_ifrs-full_CurrentAssets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Current assets</link:label>
    <link:label id="lab_ifrs-full_CurrentAssets_label_en-US" xlink:label="lab_ifrs-full_CurrentAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CurrentAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentAssets" xlink:to="lab_ifrs-full_CurrentAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_TreasuryShares_019eeebf-a98d-744c-9171-c1abe7b168b5_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_TreasuryShares" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Treasury shares</link:label>
    <link:label id="lab_ifrs-full_TreasuryShares_label_en-US" xlink:label="lab_ifrs-full_TreasuryShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Treasury shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TreasuryShares" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_TreasuryShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TreasuryShares" xlink:to="lab_ifrs-full_TreasuryShares" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_StatementOfChangesInEquityTable_019eeebf-a98c-7a11-b7ab-c8fa9d9dceea_terseLabel_en-US" xlink:label="lab_ifrs-full_StatementOfChangesInEquityTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of changes in equity [table]</link:label>
    <link:label id="lab_ifrs-full_StatementOfChangesInEquityTable_label_en-US" xlink:label="lab_ifrs-full_StatementOfChangesInEquityTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of changes in equity [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_StatementOfChangesInEquityTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_StatementOfChangesInEquityTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_StatementOfChangesInEquityTable" xlink:to="lab_ifrs-full_StatementOfChangesInEquityTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss_019eeebf-a98c-7d43-a9b0-e9aaab92601b_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Deferred income tax benefit</link:label>
    <link:label id="lab_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss_label_en-US" xlink:label="lab_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax expense (income) recognised in profit or loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:to="lab_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_ClassASharesMember_019eeebf-a8dd-7bae-8657-174c2e0e5488_terseLabel_en-US" xlink:label="lab_onholdingag_ClassASharesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class A</link:label>
    <link:label id="lab_onholdingag_ClassASharesMember_label_en-US" xlink:label="lab_onholdingag_ClassASharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class A Shares [Member]</link:label>
    <link:label id="lab_onholdingag_ClassASharesMember_documentation_en-US" xlink:label="lab_onholdingag_ClassASharesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Class A Shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_ClassASharesMember" xlink:href="onholdingag-20260630.xsd#onholdingag_ClassASharesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_ClassASharesMember" xlink:to="lab_onholdingag_ClassASharesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_InterestExpenseDefinedBenefitPlans_019eeebf-a98d-739a-981a-519b97e1b875_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_InterestExpenseDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Interest expenses on employee benefits</link:label>
    <link:label id="lab_ifrs-full_InterestExpenseDefinedBenefitPlans_label_en-US" xlink:label="lab_ifrs-full_InterestExpenseDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest expense, defined benefit plans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_InterestExpenseDefinedBenefitPlans" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_InterestExpenseDefinedBenefitPlans"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_InterestExpenseDefinedBenefitPlans" xlink:to="lab_ifrs-full_InterestExpenseDefinedBenefitPlans" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfClassesOfShareCapitalAbstract_019eeebf-a98c-761a-920b-87b08e274656_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfClassesOfShareCapitalAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of classes of share capital [abstract]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfClassesOfShareCapitalAbstract_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfClassesOfShareCapitalAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of classes of share capital [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfClassesOfShareCapitalAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfClassesOfShareCapitalAbstract" xlink:to="lab_ifrs-full_DisclosureOfClassesOfShareCapitalAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_DisclosureOfDetailedInformationAboutInventoryTableTextBlock_019eeebf-a98c-7550-be13-adeb5131cf28_terseLabel_en-US" xlink:label="lab_onholdingag_DisclosureOfDetailedInformationAboutInventoryTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Inventories</link:label>
    <link:label id="lab_onholdingag_DisclosureOfDetailedInformationAboutInventoryTableTextBlock_label_en-US" xlink:label="lab_onholdingag_DisclosureOfDetailedInformationAboutInventoryTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Detailed Information About Inventory [Table Text Block]</link:label>
    <link:label id="lab_onholdingag_DisclosureOfDetailedInformationAboutInventoryTableTextBlock_documentation_en-US" xlink:label="lab_onholdingag_DisclosureOfDetailedInformationAboutInventoryTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure Of Detailed Information About Inventory</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_DisclosureOfDetailedInformationAboutInventoryTableTextBlock" xlink:href="onholdingag-20260630.xsd#onholdingag_DisclosureOfDetailedInformationAboutInventoryTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_DisclosureOfDetailedInformationAboutInventoryTableTextBlock" xlink:to="lab_onholdingag_DisclosureOfDetailedInformationAboutInventoryTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CostOfSales_019eeebf-a98c-7292-bf39-6f59b150f054_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_CostOfSales" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Cost of sales</link:label>
    <link:label id="lab_ifrs-full_CostOfSales_label_en-US" xlink:label="lab_ifrs-full_CostOfSales" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cost of sales</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CostOfSales" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CostOfSales"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CostOfSales" xlink:to="lab_ifrs-full_CostOfSales" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ClassesOfAssetsDomain_019eeebf-a8dd-7508-82f2-d6f9e7cd80ff_terseLabel_en-US" xlink:label="lab_ifrs-full_ClassesOfAssetsDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of assets [domain]</link:label>
    <link:label id="lab_ifrs-full_ClassesOfAssetsDomain_label_en-US" xlink:label="lab_ifrs-full_ClassesOfAssetsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of assets [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ClassesOfAssetsDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ClassesOfAssetsDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ClassesOfAssetsDomain" xlink:to="lab_ifrs-full_ClassesOfAssetsDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract_019eeebf-a8dd-7f94-a18a-c4111a832d69_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of subsidiaries [abstract]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of subsidiaries [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:to="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_CurrentFiscalYearEndDate_019eeebf-a8dd-7011-a011-dabee5bac815_terseLabel_en-US" xlink:label="lab_dei_CurrentFiscalYearEndDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current fiscal year end date</link:label>
    <link:label id="lab_dei_CurrentFiscalYearEndDate_label_en-US" xlink:label="lab_dei_CurrentFiscalYearEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current Fiscal Year End Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_CurrentFiscalYearEndDate" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_CurrentFiscalYearEndDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CurrentFiscalYearEndDate" xlink:to="lab_dei_CurrentFiscalYearEndDate" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_019eeebf-a98c-7458-83c6-1e2435dd7d8c_terseLabel_en-US" xlink:label="lab_ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from disposal of tangible assets</link:label>
    <link:label id="lab_ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_label_en-US" xlink:label="lab_ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from sales of property, plant and equipment, classified as investing activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:to="lab_ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_InterestExpenseOnBankLoansAndOverdrafts_019eeebf-a8dd-7b54-891b-c64463f8c836_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_InterestExpenseOnBankLoansAndOverdrafts" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Bank charges</link:label>
    <link:label id="lab_ifrs-full_InterestExpenseOnBankLoansAndOverdrafts_label_en-US" xlink:label="lab_ifrs-full_InterestExpenseOnBankLoansAndOverdrafts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest expense on bank loans and overdrafts</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_InterestExpenseOnBankLoansAndOverdrafts" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_InterestExpenseOnBankLoansAndOverdrafts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_InterestExpenseOnBankLoansAndOverdrafts" xlink:to="lab_ifrs-full_InterestExpenseOnBankLoansAndOverdrafts" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_OtherMiscellaneousCurrentFinancialAssetsMember_019eeebf-a98c-7b0f-83cc-860b2fc4e752_terseLabel_en-US" xlink:label="lab_onholdingag_OtherMiscellaneousCurrentFinancialAssetsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other current financial assets</link:label>
    <link:label id="lab_onholdingag_OtherMiscellaneousCurrentFinancialAssetsMember_label_en-US" xlink:label="lab_onholdingag_OtherMiscellaneousCurrentFinancialAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other, Miscellaneous Current Financial Assets [Member]</link:label>
    <link:label id="lab_onholdingag_OtherMiscellaneousCurrentFinancialAssetsMember_documentation_en-US" xlink:label="lab_onholdingag_OtherMiscellaneousCurrentFinancialAssetsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other, Miscellaneous Current Financial Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_OtherMiscellaneousCurrentFinancialAssetsMember" xlink:href="onholdingag-20260630.xsd#onholdingag_OtherMiscellaneousCurrentFinancialAssetsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_OtherMiscellaneousCurrentFinancialAssetsMember" xlink:to="lab_onholdingag_OtherMiscellaneousCurrentFinancialAssetsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_TradeToolsMember_019eeebf-a8dd-7ee9-bd15-65852c37ce86_terseLabel_en-US" xlink:label="lab_onholdingag_TradeToolsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trade tools</link:label>
    <link:label id="lab_onholdingag_TradeToolsMember_label_en-US" xlink:label="lab_onholdingag_TradeToolsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade Tools [Member]</link:label>
    <link:label id="lab_onholdingag_TradeToolsMember_documentation_en-US" xlink:label="lab_onholdingag_TradeToolsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Trade Tools</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_TradeToolsMember" xlink:href="onholdingag-20260630.xsd#onholdingag_TradeToolsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_TradeToolsMember" xlink:to="lab_onholdingag_TradeToolsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_CreditCardsMember_019eeebf-a98c-75fd-8737-a21a736f3b92_terseLabel_en-US" xlink:label="lab_onholdingag_CreditCardsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Credit cards</link:label>
    <link:label id="lab_onholdingag_CreditCardsMember_label_en-US" xlink:label="lab_onholdingag_CreditCardsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Credit Cards [Member]</link:label>
    <link:label id="lab_onholdingag_CreditCardsMember_documentation_en-US" xlink:label="lab_onholdingag_CreditCardsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Credit Cards</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_CreditCardsMember" xlink:href="onholdingag-20260630.xsd#onholdingag_CreditCardsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_CreditCardsMember" xlink:to="lab_onholdingag_CreditCardsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DepreciationPropertyPlantAndEquipment_019eeebf-a8dd-705b-b1d1-cd36dc97d0f0_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Depreciation</link:label>
    <link:label id="lab_ifrs-full_DepreciationPropertyPlantAndEquipment_label_en-US" xlink:label="lab_ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation, property, plant and equipment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DepreciationPropertyPlantAndEquipment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:to="lab_ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentTaxAssetsCurrent_019fcc92-fece-72ca-8b8b-6f537dac5eb1_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentTaxAssetsCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income tax receivables</link:label>
    <link:label id="lab_ifrs-full_CurrentTaxAssetsCurrent_label_en-US" xlink:label="lab_ifrs-full_CurrentTaxAssetsCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current tax assets, current</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentTaxAssetsCurrent" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CurrentTaxAssetsCurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentTaxAssetsCurrent" xlink:to="lab_ifrs-full_CurrentTaxAssetsCurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AttributionOfExpensesByNatureToTheirFunctionAxis_019eeebf-a98d-7be6-804b-d82d0909de16_terseLabel_en-US" xlink:label="lab_ifrs-full_AttributionOfExpensesByNatureToTheirFunctionAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Attribution of expenses by nature to their function [axis]</link:label>
    <link:label id="lab_ifrs-full_AttributionOfExpensesByNatureToTheirFunctionAxis_label_en-US" xlink:label="lab_ifrs-full_AttributionOfExpensesByNatureToTheirFunctionAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Attribution of expenses by nature to their function [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AttributionOfExpensesByNatureToTheirFunctionAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AttributionOfExpensesByNatureToTheirFunctionAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AttributionOfExpensesByNatureToTheirFunctionAxis" xlink:to="lab_ifrs-full_AttributionOfExpensesByNatureToTheirFunctionAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember_019eeebf-a98d-726e-9881-75416461f3a9_terseLabel_en-US" xlink:label="lab_ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other current financial assets at amortized cost</link:label>
    <link:label id="lab_ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember_label_en-US" xlink:label="lab_ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial assets at amortised cost, category [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember" xlink:to="lab_ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AdvertisingExpense_019eeebf-a98d-7549-8e34-51ce7c466954_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_AdvertisingExpense" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Marketing expenses</link:label>
    <link:label id="lab_ifrs-full_AdvertisingExpense_label_en-US" xlink:label="lab_ifrs-full_AdvertisingExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Advertising expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdvertisingExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AdvertisingExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdvertisingExpense" xlink:to="lab_ifrs-full_AdvertisingExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ParValuePerShare_019eeebf-a98c-73c5-83f1-f948d9e50528_terseLabel_en-US" xlink:label="lab_ifrs-full_ParValuePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Par value per share (in CHF per share)</link:label>
    <link:label id="lab_ifrs-full_ParValuePerShare_label_en-US" xlink:label="lab_ifrs-full_ParValuePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Par value per share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ParValuePerShare" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ParValuePerShare"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ParValuePerShare" xlink:to="lab_ifrs-full_ParValuePerShare" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory_019eeebf-a98c-75a0-b949-f93bb739582d_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, plant and equipment</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of property, plant and equipment [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:to="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FinancialAssets_019eeebf-a98d-7f57-8358-47ccf18e659f_terseLabel_en-US" xlink:label="lab_ifrs-full_FinancialAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trade receivables</link:label>
    <link:label id="lab_ifrs-full_FinancialAssets_label_en-US" xlink:label="lab_ifrs-full_FinancialAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_FinancialAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinancialAssets" xlink:to="lab_ifrs-full_FinancialAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_AmendmentFlag_019eeebf-a98d-72f6-85c0-15a519053041_terseLabel_en-US" xlink:label="lab_dei_AmendmentFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amendment flag</link:label>
    <link:label id="lab_dei_AmendmentFlag_label_en-US" xlink:label="lab_dei_AmendmentFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_AmendmentFlag" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_AmendmentFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_AmendmentFlag" xlink:to="lab_dei_AmendmentFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ComponentsOfEquityDomain_019eeebf-a98c-7c86-8017-1791d15c6e59_terseLabel_en-US" xlink:label="lab_ifrs-full_ComponentsOfEquityDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Components of equity</link:label>
    <link:label id="lab_ifrs-full_ComponentsOfEquityDomain_label_en-US" xlink:label="lab_ifrs-full_ComponentsOfEquityDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Components of equity [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ComponentsOfEquityDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ComponentsOfEquityDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ComponentsOfEquityDomain" xlink:to="lab_ifrs-full_ComponentsOfEquityDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_ReserveForTaxOnActuarialGainsAndLossesMember_019eeebf-a98c-7eb7-94d5-32e301bbef41_terseLabel_en-US" xlink:label="lab_onholdingag_ReserveForTaxOnActuarialGainsAndLossesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Taxes on actuarial gains and losses</link:label>
    <link:label id="lab_onholdingag_ReserveForTaxOnActuarialGainsAndLossesMember_label_en-US" xlink:label="lab_onholdingag_ReserveForTaxOnActuarialGainsAndLossesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reserve For Tax On Actuarial Gains And Losses [Member]</link:label>
    <link:label id="lab_onholdingag_ReserveForTaxOnActuarialGainsAndLossesMember_documentation_en-US" xlink:label="lab_onholdingag_ReserveForTaxOnActuarialGainsAndLossesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Reserve For Tax On Actuarial Gains And Losses</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_ReserveForTaxOnActuarialGainsAndLossesMember" xlink:href="onholdingag-20260630.xsd#onholdingag_ReserveForTaxOnActuarialGainsAndLossesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_ReserveForTaxOnActuarialGainsAndLossesMember" xlink:to="lab_onholdingag_ReserveForTaxOnActuarialGainsAndLossesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NoncurrentLiabilities_019eeebf-a8dd-7177-8b0a-c03100bc0ab8_totalLabel_en-US" xlink:label="lab_ifrs-full_NoncurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Non-current liabilities</link:label>
    <link:label id="lab_ifrs-full_NoncurrentLiabilities_label_en-US" xlink:label="lab_ifrs-full_NoncurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-current liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncurrentLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_NoncurrentLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NoncurrentLiabilities" xlink:to="lab_ifrs-full_NoncurrentLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_OnTaiwanLimitedMember_019f5bad-3b18-782d-9d1f-a48d37d2df4d_terseLabel_en-US" xlink:label="lab_onholdingag_OnTaiwanLimitedMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">On Taiwan Limited</link:label>
    <link:label id="lab_onholdingag_OnTaiwanLimitedMember_label_en-US" xlink:label="lab_onholdingag_OnTaiwanLimitedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">On Taiwan Limited [Member]</link:label>
    <link:label id="lab_onholdingag_OnTaiwanLimitedMember_documentation_en-US" xlink:label="lab_onholdingag_OnTaiwanLimitedMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">On Taiwan Limited</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_OnTaiwanLimitedMember" xlink:href="onholdingag-20260630.xsd#onholdingag_OnTaiwanLimitedMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_OnTaiwanLimitedMember" xlink:to="lab_onholdingag_OnTaiwanLimitedMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NumberOfSharesIssued_019eeebf-a98c-7472-9f6d-9b6fa6de030b_periodStartLabel_en-US" xlink:label="lab_ifrs-full_NumberOfSharesIssued" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Number of shares issued at beginning of period (in shares)</link:label>
    <link:label id="lab_ifrs-full_NumberOfSharesIssued_019eeebf-a98c-7168-976b-6a026ceb00a5_periodEndLabel_en-US" xlink:label="lab_ifrs-full_NumberOfSharesIssued" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Number of shares issued at end of period (in shares)</link:label>
    <link:label id="lab_ifrs-full_NumberOfSharesIssued_label_en-US" xlink:label="lab_ifrs-full_NumberOfSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of shares issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NumberOfSharesIssued" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_NumberOfSharesIssued"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NumberOfSharesIssued" xlink:to="lab_ifrs-full_NumberOfSharesIssued" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory_019eeebf-a8dd-7306-bf63-ff1972b970b2_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segment information</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of entity's operating segments [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:to="lab_ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DepreciationRightofuseAssets_019eeebf-a98c-7bdc-8567-e9bfd5bb94e5_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_DepreciationRightofuseAssets" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Depreciation</link:label>
    <link:label id="lab_ifrs-full_DepreciationRightofuseAssets_label_en-US" xlink:label="lab_ifrs-full_DepreciationRightofuseAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation, right-of-use assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DepreciationRightofuseAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DepreciationRightofuseAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DepreciationRightofuseAssets" xlink:to="lab_ifrs-full_DepreciationRightofuseAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProvisionUsedOtherProvisions_019eeebf-a8dd-76a0-9df1-b02484da0d6c_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_ProvisionUsedOtherProvisions" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Utilization</link:label>
    <link:label id="lab_ifrs-full_ProvisionUsedOtherProvisions_label_en-US" xlink:label="lab_ifrs-full_ProvisionUsedOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Provision used, other provisions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProvisionUsedOtherProvisions" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ProvisionUsedOtherProvisions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProvisionUsedOtherProvisions" xlink:to="lab_ifrs-full_ProvisionUsedOtherProvisions" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_OnAGMember_019eeebf-a98c-7c41-a4a3-35fb175cd625_terseLabel_en-US" xlink:label="lab_onholdingag_OnAGMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">On AG</link:label>
    <link:label id="lab_onholdingag_OnAGMember_label_en-US" xlink:label="lab_onholdingag_OnAGMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">On AG [Member]</link:label>
    <link:label id="lab_onholdingag_OnAGMember_documentation_en-US" xlink:label="lab_onholdingag_OnAGMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">On AG</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_OnAGMember" xlink:href="onholdingag-20260630.xsd#onholdingag_OnAGMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_OnAGMember" xlink:to="lab_onholdingag_OnAGMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ClassesOfContingentLiabilitiesAxis_019eeebf-a8dd-778c-aec9-1353f59502e1_terseLabel_en-US" xlink:label="lab_ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of contingent liabilities [axis]</link:label>
    <link:label id="lab_ifrs-full_ClassesOfContingentLiabilitiesAxis_label_en-US" xlink:label="lab_ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of contingent liabilities [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ClassesOfContingentLiabilitiesAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:to="lab_ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AccumulatedDepreciationAndAmortisationMember_019eeebf-a8dd-7c9a-86a6-07d4a85de772_terseLabel_en-US" xlink:label="lab_ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated depreciation</link:label>
    <link:label id="lab_ifrs-full_AccumulatedDepreciationAndAmortisationMember_label_en-US" xlink:label="lab_ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated depreciation and amortisation [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AccumulatedDepreciationAndAmortisationMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:to="lab_ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_RetainedEarningsMember_019eeebf-a98c-7c4e-ac7a-426f8cb3c13d_terseLabel_en-US" xlink:label="lab_ifrs-full_RetainedEarningsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Retained earnings</link:label>
    <link:label id="lab_ifrs-full_RetainedEarningsMember_label_en-US" xlink:label="lab_ifrs-full_RetainedEarningsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained earnings [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RetainedEarningsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_RetainedEarningsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RetainedEarningsMember" xlink:to="lab_ifrs-full_RetainedEarningsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_LineCreditFacilityAgreementInitialTerm_019eeebf-a8dd-7c95-8923-9ff05e1fe71d_terseLabel_en-US" xlink:label="lab_onholdingag_LineCreditFacilityAgreementInitialTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Initial term of facility agreement</link:label>
    <link:label id="lab_onholdingag_LineCreditFacilityAgreementInitialTerm_label_en-US" xlink:label="lab_onholdingag_LineCreditFacilityAgreementInitialTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line Credit Facility Agreement, Initial Term</link:label>
    <link:label id="lab_onholdingag_LineCreditFacilityAgreementInitialTerm_documentation_en-US" xlink:label="lab_onholdingag_LineCreditFacilityAgreementInitialTerm" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Line Credit Facility Agreement, Initial Term</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_LineCreditFacilityAgreementInitialTerm" xlink:href="onholdingag-20260630.xsd#onholdingag_LineCreditFacilityAgreementInitialTerm"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_LineCreditFacilityAgreementInitialTerm" xlink:to="lab_onholdingag_LineCreditFacilityAgreementInitialTerm" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_RevenueFromInterest_019eeebf-a98d-72c9-87b8-72fce35330ca_terseLabel_en-US" xlink:label="lab_ifrs-full_RevenueFromInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest Income</link:label>
    <link:label id="lab_ifrs-full_RevenueFromInterest_label_en-US" xlink:label="lab_ifrs-full_RevenueFromInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RevenueFromInterest" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_RevenueFromInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RevenueFromInterest" xlink:to="lab_ifrs-full_RevenueFromInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AnalysisOfIncomeAndExpenseAbstract_label_en-US" xlink:label="lab_ifrs-full_AnalysisOfIncomeAndExpenseAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Analysis of income and expense [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AnalysisOfIncomeAndExpenseAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AnalysisOfIncomeAndExpenseAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AnalysisOfIncomeAndExpenseAbstract" xlink:to="lab_ifrs-full_AnalysisOfIncomeAndExpenseAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DepreciationAndAmortisationExpense_019eeebf-a98c-7b85-9beb-3bea6f57a483_terseLabel_en-US" xlink:label="lab_ifrs-full_DepreciationAndAmortisationExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortisation expense</link:label>
    <link:label id="lab_ifrs-full_DepreciationAndAmortisationExpense_label_en-US" xlink:label="lab_ifrs-full_DepreciationAndAmortisationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation and amortisation expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DepreciationAndAmortisationExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DepreciationAndAmortisationExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DepreciationAndAmortisationExpense" xlink:to="lab_ifrs-full_DepreciationAndAmortisationExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_ShoesMember_019eeebf-a98c-7f9f-8216-666caf5bb041_terseLabel_en-US" xlink:label="lab_onholdingag_ShoesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shoes</link:label>
    <link:label id="lab_onholdingag_ShoesMember_label_en-US" xlink:label="lab_onholdingag_ShoesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Shoes [Member]</link:label>
    <link:label id="lab_onholdingag_ShoesMember_documentation_en-US" xlink:label="lab_onholdingag_ShoesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Shoes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_ShoesMember" xlink:href="onholdingag-20260630.xsd#onholdingag_ShoesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_ShoesMember" xlink:to="lab_onholdingag_ShoesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CategoriesOfFinancialAssetsDomain_019eeebf-a8dd-7e91-b4a8-a7a9d12c8939_terseLabel_en-US" xlink:label="lab_ifrs-full_CategoriesOfFinancialAssetsDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Categories of financial assets [domain]</link:label>
    <link:label id="lab_ifrs-full_CategoriesOfFinancialAssetsDomain_label_en-US" xlink:label="lab_ifrs-full_CategoriesOfFinancialAssetsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Categories of financial assets [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CategoriesOfFinancialAssetsDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CategoriesOfFinancialAssetsDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CategoriesOfFinancialAssetsDomain" xlink:to="lab_ifrs-full_CategoriesOfFinancialAssetsDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProvisionsAbstract_019eeebf-a98c-7da1-9246-0a8c460f2609_terseLabel_en-US" xlink:label="lab_ifrs-full_ProvisionsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Provisions [abstract]</link:label>
    <link:label id="lab_ifrs-full_ProvisionsAbstract_label_en-US" xlink:label="lab_ifrs-full_ProvisionsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Provisions [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProvisionsAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ProvisionsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProvisionsAbstract" xlink:to="lab_ifrs-full_ProvisionsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CarryingAmountMember_019eeebf-a98c-7247-b470-746b33d4af1b_terseLabel_en-US" xlink:label="lab_ifrs-full_CarryingAmountMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Carrying amount</link:label>
    <link:label id="lab_ifrs-full_CarryingAmountMember_label_en-US" xlink:label="lab_ifrs-full_CarryingAmountMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Carrying amount [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CarryingAmountMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CarryingAmountMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CarryingAmountMember" xlink:to="lab_ifrs-full_CarryingAmountMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AdditionalProvisionsOtherProvisions_019eeebf-a98c-772a-a06f-0827c570e745_terseLabel_en-US" xlink:label="lab_ifrs-full_AdditionalProvisionsOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additions</link:label>
    <link:label id="lab_ifrs-full_AdditionalProvisionsOtherProvisions_label_en-US" xlink:label="lab_ifrs-full_AdditionalProvisionsOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional provisions, other provisions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdditionalProvisionsOtherProvisions" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AdditionalProvisionsOtherProvisions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdditionalProvisionsOtherProvisions" xlink:to="lab_ifrs-full_AdditionalProvisionsOtherProvisions" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_ReserveForCurrentTaxBenefitsOnEquityTransactionCostsMember_019eeebf-a98c-7c13-bacd-7d0896e37976_terseLabel_en-US" xlink:label="lab_onholdingag_ReserveForCurrentTaxBenefitsOnEquityTransactionCostsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tax impact on equity transaction costs</link:label>
    <link:label id="lab_onholdingag_ReserveForCurrentTaxBenefitsOnEquityTransactionCostsMember_label_en-US" xlink:label="lab_onholdingag_ReserveForCurrentTaxBenefitsOnEquityTransactionCostsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reserve For Current Tax Benefits On Equity Transaction Costs [Member]</link:label>
    <link:label id="lab_onholdingag_ReserveForCurrentTaxBenefitsOnEquityTransactionCostsMember_documentation_en-US" xlink:label="lab_onholdingag_ReserveForCurrentTaxBenefitsOnEquityTransactionCostsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Reserve For Current Tax Benefits On Equity Transaction Costs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_ReserveForCurrentTaxBenefitsOnEquityTransactionCostsMember" xlink:href="onholdingag-20260630.xsd#onholdingag_ReserveForCurrentTaxBenefitsOnEquityTransactionCostsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_ReserveForCurrentTaxBenefitsOnEquityTransactionCostsMember" xlink:to="lab_onholdingag_ReserveForCurrentTaxBenefitsOnEquityTransactionCostsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_DisclosureOfDetailedInformationAboutCashAndCashEquivalentsTableTextBlock_019eeebf-a8dd-7cc8-a55f-db331655e6e4_terseLabel_en-US" xlink:label="lab_onholdingag_DisclosureOfDetailedInformationAboutCashAndCashEquivalentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Cash and Cash Equivalents</link:label>
    <link:label id="lab_onholdingag_DisclosureOfDetailedInformationAboutCashAndCashEquivalentsTableTextBlock_label_en-US" xlink:label="lab_onholdingag_DisclosureOfDetailedInformationAboutCashAndCashEquivalentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Detailed Information About Cash And Cash Equivalents [Table Text Block]</link:label>
    <link:label id="lab_onholdingag_DisclosureOfDetailedInformationAboutCashAndCashEquivalentsTableTextBlock_documentation_en-US" xlink:label="lab_onholdingag_DisclosureOfDetailedInformationAboutCashAndCashEquivalentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure Of Detailed Information About Cash And Cash Equivalents</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_DisclosureOfDetailedInformationAboutCashAndCashEquivalentsTableTextBlock" xlink:href="onholdingag-20260630.xsd#onholdingag_DisclosureOfDetailedInformationAboutCashAndCashEquivalentsTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_DisclosureOfDetailedInformationAboutCashAndCashEquivalentsTableTextBlock" xlink:to="lab_onholdingag_DisclosureOfDetailedInformationAboutCashAndCashEquivalentsTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentLeaseLiabilities_019eeebf-a8dd-716e-97ff-50fc3e25d0e5_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current lease liabilities</link:label>
    <link:label id="lab_ifrs-full_CurrentLeaseLiabilities_label_en-US" xlink:label="lab_ifrs-full_CurrentLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current lease liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentLeaseLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CurrentLeaseLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentLeaseLiabilities" xlink:to="lab_ifrs-full_CurrentLeaseLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_GrossCashBalancesBeforeCashPoolingOffset_019eeebf-a8dd-756c-abcc-45aa6ea28297_terseLabel_en-US" xlink:label="lab_onholdingag_GrossCashBalancesBeforeCashPoolingOffset" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gross bank balances before cash pooling offset</link:label>
    <link:label id="lab_onholdingag_GrossCashBalancesBeforeCashPoolingOffset_label_en-US" xlink:label="lab_onholdingag_GrossCashBalancesBeforeCashPoolingOffset" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gross Cash Balances Before Cash Pooling Offset</link:label>
    <link:label id="lab_onholdingag_GrossCashBalancesBeforeCashPoolingOffset_documentation_en-US" xlink:label="lab_onholdingag_GrossCashBalancesBeforeCashPoolingOffset" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gross Cash Balances Before Cash Pooling Offset</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_GrossCashBalancesBeforeCashPoolingOffset" xlink:href="onholdingag-20260630.xsd#onholdingag_GrossCashBalancesBeforeCashPoolingOffset"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_GrossCashBalancesBeforeCashPoolingOffset" xlink:to="lab_onholdingag_GrossCashBalancesBeforeCashPoolingOffset" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_DisclosureOfDetailedInformationOfSellingGeneralAndAdministrativeExpenseTableTextBlock_019eeebf-a8dd-7462-b9e4-33cca9d690e2_terseLabel_en-US" xlink:label="lab_onholdingag_DisclosureOfDetailedInformationOfSellingGeneralAndAdministrativeExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Selling, General and Administrative Expenses</link:label>
    <link:label id="lab_onholdingag_DisclosureOfDetailedInformationOfSellingGeneralAndAdministrativeExpenseTableTextBlock_label_en-US" xlink:label="lab_onholdingag_DisclosureOfDetailedInformationOfSellingGeneralAndAdministrativeExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Detailed Information Of Selling, General And Administrative Expense [Table Text Block]</link:label>
    <link:label id="lab_onholdingag_DisclosureOfDetailedInformationOfSellingGeneralAndAdministrativeExpenseTableTextBlock_documentation_en-US" xlink:label="lab_onholdingag_DisclosureOfDetailedInformationOfSellingGeneralAndAdministrativeExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure Of Detailed Information About Selling, General And Administrative Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_DisclosureOfDetailedInformationOfSellingGeneralAndAdministrativeExpenseTableTextBlock" xlink:href="onholdingag-20260630.xsd#onholdingag_DisclosureOfDetailedInformationOfSellingGeneralAndAdministrativeExpenseTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_onholdingag_DisclosureOfDetailedInformationOfSellingGeneralAndAdministrativeExpenseTableTextBlock" xlink:to="lab_onholdingag_DisclosureOfDetailedInformationOfSellingGeneralAndAdministrativeExpenseTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProceedsFromSaleOrIssueOfTreasuryShares_019eeebf-a8dd-7898-8e74-9002bbb4995c_terseLabel_en-US" xlink:label="lab_ifrs-full_ProceedsFromSaleOrIssueOfTreasuryShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds on sale of treasury shares related to share-based compensation</link:label>
    <link:label id="lab_ifrs-full_ProceedsFromSaleOrIssueOfTreasuryShares_label_en-US" xlink:label="lab_ifrs-full_ProceedsFromSaleOrIssueOfTreasuryShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from sale or issue of treasury shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProceedsFromSaleOrIssueOfTreasuryShares" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ProceedsFromSaleOrIssueOfTreasuryShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProceedsFromSaleOrIssueOfTreasuryShares" xlink:to="lab_ifrs-full_ProceedsFromSaleOrIssueOfTreasuryShares" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DilutedEarningsLossPerShare_019eeebf-a98c-71bd-b25f-839da6228711_terseLabel_en-US" xlink:label="lab_ifrs-full_DilutedEarningsLossPerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Diluted EPS (CHF) (in CHF per share)</link:label>
    <link:label id="lab_ifrs-full_DilutedEarningsLossPerShare_label_en-US" xlink:label="lab_ifrs-full_DilutedEarningsLossPerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diluted earnings (loss) per share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DilutedEarningsLossPerShare" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DilutedEarningsLossPerShare"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DilutedEarningsLossPerShare" xlink:to="lab_ifrs-full_DilutedEarningsLossPerShare" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_MaturityDomain_019eeebf-a8dd-7499-bf07-50cf622c1cc2_terseLabel_en-US" xlink:label="lab_ifrs-full_MaturityDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maturity [domain]</link:label>
    <link:label id="lab_ifrs-full_MaturityDomain_label_en-US" xlink:label="lab_ifrs-full_MaturityDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maturity [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_MaturityDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_MaturityDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_MaturityDomain" xlink:to="lab_ifrs-full_MaturityDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_onholdingag_IncomeTaxesAbstract_019eeebf-aa07-7f82-8273-8a68c45bc67c_terseLabel_en-US" xlink:label="lab_onholdingag_IncomeTaxesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Taxes [Abstract]</link:label>
    <link:label id="lab_onholdingag_IncomeTaxesAbstract_label_en-US" xlink:label="lab_onholdingag_IncomeTaxesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Taxes [Abstract]</link:label>
    <link:label id="lab_onholdingag_IncomeTaxesAbstract_documentation_en-US" xlink:label="lab_onholdingag_IncomeTaxesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Income Taxes [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_IncomeTaxesAbstract" xlink:href="onholdingag-20260630.xsd#onholdingag_IncomeTaxesAbstract"/>
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    <link:label id="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory_019eeebf-a98c-7d0a-9934-ae94474cd93f_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Subsidiaries</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of subsidiaries [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory"/>
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    <link:label id="lab_ifrs-full_DisclosureOfInterestsInSubsidiariesExplanatory_019eeebf-a8dd-767e-9bb2-b5f2e6f2a090_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfInterestsInSubsidiariesExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Oniverse</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfInterestsInSubsidiariesExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfInterestsInSubsidiariesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of interests in subsidiaries [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfInterestsInSubsidiariesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfInterestsInSubsidiariesExplanatory"/>
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    <link:label id="lab_onholdingag_MiscellaneousOtherFinancialLiabilitiesMember_019eeebf-a98c-77e4-a344-fe54cecc9fd4_terseLabel_en-US" xlink:label="lab_onholdingag_MiscellaneousOtherFinancialLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other financial liabilities</link:label>
    <link:label id="lab_onholdingag_MiscellaneousOtherFinancialLiabilitiesMember_label_en-US" xlink:label="lab_onholdingag_MiscellaneousOtherFinancialLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Miscellaneous Other Financial Liabilities [Member]</link:label>
    <link:label id="lab_onholdingag_MiscellaneousOtherFinancialLiabilitiesMember_documentation_en-US" xlink:label="lab_onholdingag_MiscellaneousOtherFinancialLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Miscellaneous Other Financial Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_onholdingag_MiscellaneousOtherFinancialLiabilitiesMember" xlink:href="onholdingag-20260630.xsd#onholdingag_MiscellaneousOtherFinancialLiabilitiesMember"/>
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    <link:label id="lab_ifrs-full_RightofuseAssets_019eeebf-a98c-76fc-8204-76d1bb3b336a_terseLabel_en-US" xlink:label="lab_ifrs-full_RightofuseAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Right-of-use assets</link:label>
    <link:label id="lab_ifrs-full_RightofuseAssets_019eeebf-a98c-7a16-af4b-5d79143cc36d_periodStartLabel_en-US" xlink:label="lab_ifrs-full_RightofuseAssets" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Right-of-use assets beginning balance</link:label>
    <link:label id="lab_ifrs-full_RightofuseAssets_019eeebf-a98c-7c58-b7c3-146b6b24bca5_periodEndLabel_en-US" xlink:label="lab_ifrs-full_RightofuseAssets" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Right-of-use assets ending balance</link:label>
    <link:label id="lab_ifrs-full_RightofuseAssets_label_en-US" xlink:label="lab_ifrs-full_RightofuseAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Right-of-use assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RightofuseAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_RightofuseAssets"/>
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    <link:label id="lab_ifrs-full_CapitalReserveMember_019eeebf-a98d-7d97-b2fe-fe6a18a214df_terseLabel_en-US" xlink:label="lab_ifrs-full_CapitalReserveMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital reserves</link:label>
    <link:label id="lab_ifrs-full_CapitalReserveMember_label_en-US" xlink:label="lab_ifrs-full_CapitalReserveMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital reserve [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CapitalReserveMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CapitalReserveMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CapitalReserveMember" xlink:to="lab_ifrs-full_CapitalReserveMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_PurchaseOfTreasuryShares_019eeebf-a98d-7e00-acbc-64ccc223970c_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_PurchaseOfTreasuryShares" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Purchase of treasury shares</link:label>
    <link:label id="lab_ifrs-full_PurchaseOfTreasuryShares_label_en-US" xlink:label="lab_ifrs-full_PurchaseOfTreasuryShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Purchase of treasury shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PurchaseOfTreasuryShares" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_PurchaseOfTreasuryShares"/>
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    <link:label id="lab_ifrs-full_AverageEffectiveTaxRate_019eeebf-a8dd-7eb0-8b3e-35c562b67a1f_terseLabel_en-US" xlink:label="lab_ifrs-full_AverageEffectiveTaxRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effective tax rate</link:label>
    <link:label id="lab_ifrs-full_AverageEffectiveTaxRate_label_en-US" xlink:label="lab_ifrs-full_AverageEffectiveTaxRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Average effective tax rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AverageEffectiveTaxRate" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AverageEffectiveTaxRate"/>
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    <link:label id="lab_ifrs-full_VehiclesMember_019eeebf-a98d-7b38-ba51-28ae0012056f_terseLabel_en-US" xlink:label="lab_ifrs-full_VehiclesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cars</link:label>
    <link:label id="lab_ifrs-full_VehiclesMember_label_en-US" xlink:label="lab_ifrs-full_VehiclesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vehicles [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_VehiclesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_VehiclesMember"/>
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    <link:label id="lab_ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents_019eeebf-a98c-7ab1-8111-03d1d40cf597_terseLabel_en-US" xlink:label="lab_ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fixed deposits</link:label>
    <link:label id="lab_ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents_label_en-US" xlink:label="lab_ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Short-term deposits, classified as cash equivalents</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents"/>
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    <link:label id="lab_ifrs-full_EarningsPerShareExplanatory_019eeebf-a98c-789c-83f0-291abb3984b2_terseLabel_en-US" xlink:label="lab_ifrs-full_EarningsPerShareExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Earnings per Share</link:label>
    <link:label id="lab_ifrs-full_EarningsPerShareExplanatory_label_en-US" xlink:label="lab_ifrs-full_EarningsPerShareExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings per share [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EarningsPerShareExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_EarningsPerShareExplanatory"/>
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    <link:label id="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable_019eeebf-a98c-793c-b4ac-ff679fa8466c_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about property, plant and equipment [table]</link:label>
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