Company type | Public |
---|---|
NYSE: ONON | |
Industry | Sportswear Sports equipment |
Founded | 2010 |
Founders |
|
Headquarters | Zürich, Switzerland |
Area served | Worldwide |
Products | Athletic shoes |
Revenue | CHF 1.79 billion (2023) |
CHF 180 million (2023) | |
CHF 79.6 million (2023) | |
Total assets | CHF 1.59 billion (2023) |
Total equity | CHF 1.07 billion (2023) |
Number of employees | 2,353 (December 2023) |
Parent | On Holding AG |
Website | on |
Footnotes /references [1] |
On Holding AG is an athletic shoe and performance sportswear company originating in Switzerland that designs and markets sports clothing and running shoes.
As of 2019 the company held 40% of the running shoe market in Switzerland and 10% in Germany. [2] As of 2020, On products are sold in 6,000 retailers in 55 countries; the United States is its biggest single market, where it accounts for 6.6% of the performance running shoe category in the United States. [3]
On was first incorporated as a sporting goods company in 2010. The company was founded by former Swiss Ironman champion Olivier Bernhard with David Allemann and Caspar Coppetti. In 2012, On released the Cloudracer, a performance shoe favoured by Swiss professional triathlete Nicola Spirig. [4] The company claims a proprietary cushioning technology called CloudTec in its shoes. [5]
CloudTec began with Bernhard experimenting with a garden hose, exploring how that shape could offer a brand new type of cushioning. Bernhard, who was a Nike athlete at the time, presented his prototype to Nike but had it rejected. The "clouds" underneath all On shoes offer cushioning as the foot lands on the floor, before locking together to create a solid foundation for pushing off on the next step. [6]
The Cloudboom Strike LS is a performance running shoe launched for the 2024 Olympic Games. It uses an upper construction method in which a single, continuous filament of synthetic material is robotically deposited to create a lightweight and form-fitting upper. Weighing only 6 ounces (5.5 ozt; 170 g; 2,600 gr), the shoe is comparable in weight to the Nike ZoomX Streakfly.
This upper construction reduces the shoe's required components from 150-200 to seven. The shoe is also promoted for its reduced environmental impact through minimized waste and potential for on-demand manufacturing. [7]
Swiss Tennis professional Roger Federer became a shareholder in On AG in November 2019. The company released a limited edition lifestyle shoe named “The Roger” in July 2020. [8] Based on sales growth the company was reported to be exploring IPO options for the latter half of 2021. [5] [9] The company's IPO raised approximately $746 million. [10]
On also founded and sponsors the professional running group, On Athletics Club, coached by Dathan Ritzenhein with a roster that contains multiple Olympic finalists. [11] The company also built bobsleigh shoes that were used in the 2022 Winter Olympics. [12]
Currently, David Kilgore, an American professional runner and record holder, competes and works for On Running. [13] [14]
On March 31, 2022, On launched the Cloudmonster. It deviates from the company's previous designs by having a larger sole. Jacob Gallagher of The Wall Street Journal described it as "a maximalist sneaker" and claimed that this design is primarily associated with Hoka One One, and called Hoka One One "one of On's main competitors in the specialized running market". [15]
In March 2023, On announced its sponsorship of number one women's tennis player Iga Świątek [16] and men's tennis players Ben Shelton and João Fonseca. [17]
Converse is an American lifestyle brand that markets, distributes, and licenses footwear, apparel, and accessories. Founded by Marquis Mills Converse in 1908 as the Converse Rubber Shoe Company in Malden, Massachusetts, it has been acquired by several companies before becoming a subsidiary of Nike, Inc. in 2003.
Roger Federer is a Swiss former professional tennis player. He was ranked world No. 1 in singles by the Association of Tennis Professionals (ATP) for 310 weeks, including a record 237 consecutive weeks, and finished as the year-end No. 1 five times. He won 103 singles titles on the ATP Tour, the second most of all time, including 20 major men's singles titles and six year-end championships.
Sneakers (US) or trainers (UK), also known by a wide variety of other names, are shoes primarily designed for sports or other forms of physical exercise but which are also widely used for everyday casual wear.
Brooks Sports, Inc., also known as Brooks Running, is an American sports equipment company that designs and markets high-performance men's and women's sneakers, clothing, and accessories. Headquartered in Seattle, Washington, Brooks products are available in 60 countries worldwide. It is a subsidiary of Berkshire Hathaway.
Skate shoes or skateboard shoes are a type of footwear specifically designed and manufactured for use in skateboarding. While numerous non-skaters choose to wear skate shoes as they are popular in fashion, the design of the skate shoe includes many features designed especially for use in skateboarding, including a vulcanized rubber or polyurethane sole with minimal tread pattern or no pattern, a composition leather or suede upper, and reinforced stitching to extend the life of the upper material. The most important aspect of skate shoes is that they have flat soles which allow the skater to have better board control.
Nike Air Max is a line of shoes produced by Nike, Inc., with the first model released in 1987. Air Max shoes are identified by their midsoles incorporating flexible urethane pouches filled with pressurized gas, visible from the exterior of the shoe and intended to provide cushioning to the underfoot. Air Max was conceptualized by Tinker Hatfield, who initially worked for Nike designing stores.
Nike Free is a minimalist running shoe. It was introduced in 2005 after Nike representatives observed Nike sponsored track athletes training barefoot.
Dathan James Ritzenhein is a retired American long-distance runner, and current head coach of the On Athletics Club (OAC). He held the American record in the 5,000 metres (12:56.27) from 2009 to 2010, until it was broken by Bernard Lagat. He is a three-time national cross country champion with wins at the USA Cross Country Championships in 2005, 2008 and 2010. Formerly a Nike athlete for the majority of his professional career, Dathan joined the Hansons-Brooks Distance Project team in 2017. In early May 2020, he announced his retirement from competition. He signed with the Swiss shoe brand On shortly thereafter in June 2020 and currently acts as the coach for the OAC in Boulder, Colorado.
Nike Shox is a support system feature in several of Nike's flagship sneakers, first released in 2000. The design is an arrangement of primarily polyurethane hollow columns in the midsole supporting the shoe's heel. Most models include four circular columns in a square formation to provide stability. Later variations sometimes added additional columns, or changed to triangular or rectangular formations.
Reebok International Limited is an American footwear and clothing brand that is a part of Authentic Brands Group. It was established in England in 1958 as a companion company to J.W. Foster and Sons, a sporting goods company which had been founded in 1895 in Bolton, Lancashire. From 1958 until 1986, the brand featured the flag of the United Kingdom in its logo to signify the origins of the company. It was bought by German sporting goods company Adidas in 2005, then sold to the United States–based Authentic Brands Group in 2021. The company's global headquarters are located in Boston, Massachusetts, in the Seaport District.
Onitsuka Tiger is a Japanese sports fashion brand started in 1949 by Onitsuka Shōkai, a sports shoes company founded by Kihachiro Onitsuka. Onitsuka Shōkai changed its name to Onitsuka Co., Ltd. before becoming Asics Corporation in 1977. Since 1977, Onitsuka Tiger has been sold as a lifestyle brand of Asics.
Nike, Inc. is an American athletic footwear and apparel corporation headquartered near Beaverton, Oregon, United States. It is the world's largest supplier of athletic shoes and apparel and a major manufacturer of sports equipment, with revenue in excess of US$46 billion in its fiscal year 2022.
Anta Sports Products Limited is a Chinese sports equipment multinational corporation headquartered in Jinjiang, China. It is the world's largest sports equipment company by revenue and third-largest manufacturer of sporting goods overall, behind Nike and Adidas ahead of Li Ning.
Hoka One One is a sportswear company that designs and markets running shoes. It was founded in 2009 in Annecy, France, and had been based in Richmond, California before it was acquired by Deckers Brands in 2013. Hoka first gained attention in the running industry by producing shoes with oversized midsoles, dubbed "maximalist" shoes, in contrast to the minimalist shoe trend that was gaining popularity at the time.
Iga Natalia Świątek is a Polish professional tennis player. She was ranked as the world No. 1 in women's singles by the WTA, having held the position for a total of 125 weeks and placing her 7th on the all-time list for number of weeks spent as No. 1. Świątek has won five major singles titles and is the only player representing Poland to win a major singles title. She has won the French Open four times and the US Open once. Świątek has won 22 singles titles, including the 2023 WTA Finals and ten WTA 1000 titles. In 2024, she became the first Polish tennis player to win an Olympic medal, earning bronze in singles at the Paris Summer Olympics.
Allbirds, Inc. is a New Zealand and American public benefit company that sells footwear and apparel, co-founded in 2014 by Tim Brown and Joey Zwillinger. The company is headquartered in San Francisco, California. Its business model has historically relied on direct-to-consumer commerce, though it has some brick and mortar commerce.
This is a list of the main career statistics of Polish professional tennis player Iga Świątek.
This page covers all the important events in the sport of tennis in 2022. It provides the results of notable tournaments throughout the year on both the ATP and WTA Tours, the Davis Cup, and the Fed Cup.
Accent Group Limited is an Australian and New Zealand footwear and clothing retail, wholesaling and distribution company. It has more than 800 retail stores, along with 19 brands, and more than 20 online platforms.
Nike Zoom Vomero 5 is a running shoe released by Nike, Inc. The shoe is part of the Nike Vomero line of running shoes.