About On
On (stylized as "on") is a Swiss athletic shoe and performance sportswear company founded in 2010 in Zurich. The brand was created by former Swiss Ironman champion Olivier Bernhard along with David Allemann and Caspar Coppetti, with a mission to revolutionise running shoe technology. The brand's signature innovation is CloudTec technology - distinctive pod-like "clouds" on the shoe sole that offer cushioning as the foot lands, before locking together to create a solid foundation for the push-off. This technology originated from Bernhard's experiments with a garden hose to explore new cushioning possibilities. Notably, Bernhard presented his prototype to Nike, who rejected it, leading to On's independent founding. On has experienced remarkable growth, achieving a 40% market share of the running shoe market in Switzerland and 10% in Germany by 2019. By 2024, the company reported approximately $2.5 billion in sales with 30% year-over-year growth. The company went public on the New York Stock Exchange in September 2021, raising approximately $746 million in its IPO. A significant milestone came in November 2019 when Swiss tennis legend Roger Federer became a shareholder in On AG. This partnership led to "The Roger" - a limited edition lifestyle shoe released in July 2020. The brand has also signed elite tennis players including Iga Świątek, Ben Shelton, and João Fonseca, expanding its presence beyond running. The company operates from Zurich with what it describes as a management philosophy rooted in "Swiss democracy," reflecting its commitment to quality, innovation, and authentic athletic performance.
