On

Fast-growing premium performance sportswear challenger brand competing with Nike, Adidas, and New Balance in the global athletic footwear and apparel market

On (On Holding AG) is a Swiss athletic footwear and apparel company founded in 2010 in Zurich, Switzerland. The brand is best known for its patented CloudTec sole technology, which features cloud-like pods designed to provide cushioning and propulsion for runners. Since its founding by Olivier Bernhard, David Allemann, and Caspar Coppetti, On has expanded from a niche running shoe brand into a full performance sportswear company with products spanning running, training, outdoor, and lifestyle categories. On went public on the New York Stock Exchange in September 2021 under the ticker ONON, raising approximately $746 million in its IPO. The company has grown rapidly, reporting revenues exceeding CHF 2 billion in 2023, and operates through a dual-channel model combining direct-to-consumer (DTC) e-commerce and retail with wholesale partnerships across major sporting goods retailers globally. Roger Federer is a notable investor and brand ambassador, having joined the company in 2019. From a marketing perspective, On is a significant advertiser and brand builder in the premium athletic wear space. The company invests heavily in performance marketing, influencer partnerships, sponsorships of elite athletes and running events, and brand campaigns to compete with established giants like Nike, Adidas, and New Balance. Its DTC channel is a core strategic priority, making digital marketing, customer acquisition, and retention central to its business operations.