On Holding AG is a Swiss

athletic shoe 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 are also widely used for everyday casual wear. They were popularized by compani ...

and performance

sportswear Sportswear or activewear is athletic clothing, including footwear, worn for sports activity or physical exercise. Sport-specific clothing is worn for most sports and physical exercise, for practical, comfort or safety reasons. Typical spor ...

company that designs and markets sports clothing and running shoes. In 2019, the company held 40% of the running shoe market in Switzerland and 10% in Germany. As of 2020, On products were sold in 6,000 retailers in 55 countries; the United States was its biggest single market, where it accounted for 6.6% of the performance running shoe category in the United States. Globally, On is estimated to have 2% of the athletic footwear market. From January 2021 to March 2025, Marc Maurer and Martin Hoffmann jointly held the position of Co-Chief Executive Officers (Co-CEOs). Effective April 2025, Martin Hoffmann has assumed the sole CEO role following the departure of Marc Maurer. Martin Hoffmann held the role of Chief Financial Officer since joining the company in 2013. The company's founders remain actively involved: David Allemann and Caspar Coppetti serve as Executive Co-Chairmen. Olivier Bernhard focuses on product and innovation. In 2024, On reported sales of CHF 2.32 billion, marking a 29.4% increase compared to the previous year. The company's profit rose by 204.5% to CHF 242.3 million during the same period.

History

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 Nicola Spirig Hug (born 7 February 1982) is a Swiss lawyer and former professional triathlete. She is the 2012 Olympic and six times European champion in women's triathlon. Career Nicola Spirig is a five times Olympian. She was Olympic champion ...

. The company claims a proprietary cushioning technology called CloudTec in its shoes. 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 Nike often refers to: * Nike, Inc., a major American producer of athletic shoes, apparel, and sports equipment * Nike (mythology), a Greek goddess who personifies victory Nike may also refer to: People * Nike (name), a surname and feminine giv ...

athlete at the time, presented his prototype to Nike but had it rejected. The "clouds" underneath all On shoes are described by the manufacturer as offering cushioning as the foot lands on the floor, before locking together to create a solid foundation for pushing off on the next step.

Cloudboom

The Cloudboom Strike LS is a performance running shoe launched for the

2024 Olympic Games The 2024 Summer Olympics (), officially the Games of the XXXIII Olympiad () and branded as Paris 2024, were an international multi-sport event held in France from 26 July to 11 August 2024, with several events started from 24 July. P ...

. 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 , the shoe is comparable in weight to the

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 Environmental issues are disruptions in the usual function of ecosystems. Further, these issues can be caused by humans ( human impact on the environment) or they can be natural. These issues are considered serious when the ecosystem cannot reco ...

through minimized waste and potential for on-demand manufacturing.

Shareholders

Swiss Tennis professional

Roger Federer Roger Federer ( , ; born 8 August 1981) is a Swiss former professional tennis player. He was ranked as the List of ATP number 1 ranked singles tennis players, world No. 1 in men's singles by the Association of Tennis Professionals (ATP) for 3 ...

became a shareholder in On AG in November 2019. The company released a limited edition lifestyle shoe named “The Roger” in July 2020. Based on sales growth the company was reported to be exploring

IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

options for the latter half of 2021. In September 2021, the company's IPO raised approximately $746 million. Since 2021, On stocks are listed.

Operations

On also founded and sponsors the professional running group,

On Athletics Club On Athletics Club (OAC) is a training group of professional Distance running, distance runners sponsored by On (company), On. The team is coached by Dathan Ritzenhein and was founded in August 2020 with eight original members. OAC trains primaril ...

, coached by

Dathan Ritzenhein Dathan James Ritzenhein (born December 30, 1982) 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 broke ...

with a roster that contains multiple

Olympic Olympic or Olympics may refer to Sports Competitions * Olympic Games, international multi-sport event held since 1896 ** Summer Olympic Games ** Winter Olympic Games * Ancient Olympic Games, ancient multi-sport event held in Olympia, Greece bet ...

finalists. The company also built

bobsleigh Bobsleigh or bobsled is a winter sport in which teams of 2 to 4 athletes make timed speed runs down narrow, twisting, banked, iced tracks in a gravity-powered sleigh. International bobsleigh competitions are governed by the International Bobslei ...

shoes that were used in the

2022 Winter Olympics The 2022 Winter Olympics, officially called the XXIV Olympic Winter Games () and commonly known as Beijing 2022 (2022), were an international winter multi-sport event held from 4 to 20 February 2022 in Beijing, China, and surrounding areas wit ...

. Currently, David Kilgore, an American professional runner and record holder, competes and works for On Running. 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 ''The Wall Street Journal'' (''WSJ''), also referred to simply as the ''Journal,'' is an American newspaper based in New York City. The newspaper provides extensive coverage of news, especially business and finance. It operates on a subscriptio ...

'' described it as "a maximalist sneaker" and claimed that this design is primarily associated with

Hoka One One Hoka (stylized as HOKA and formerly known as 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 Bra ...

, and called Hoka One One "one of On's main competitors in the specialized running market". In March 2023, On announced its sponsorship of number one women's tennis player

Iga Świątek Iga Natalia Świątek (; born 31 May 2001) is a Polish professional tennis player. She has been ranked as the List of WTA number 1 ranked singles tennis players, world No. 1 in women’s singles by the Women's Tennis Association, Women’s Tenn ...

and men's tennis players

Ben Shelton Benjamin Todd Shelton (born October 9, 2002) is an American professional tennis player. Shelton has a career-high singles ranking of world No. 10 by the Association of Tennis Professionals, ATP, achieved on 16 June 2025. He has a career-high A ...

and

João Fonseca João Fonseca may refer to: * João Fonseca (footballer) (born 1948), Portuguese football manager and former goalkeeper *João Fonseca (tennis) João Franca Guimarães Fonseca (; born 21 August 2006) is a Brazilians, Brazilian professional tenn ...

. The production of On shoes has been moved from China to Indonesia and Vietnam.

References

External links

* {{Running shoe brands Clothing companies established in 2010 Swiss companies established in 2010 Shoe companies of Switzerland 2021 initial public offerings Athletic shoe brands Manufacturing companies based in Zurich Companies listed on the New York Stock Exchange Sportswear brands Swiss brands Sporting goods manufacturers of Switzerland