On Running, a Swiss company that has tennis player Roger Federer as a partner, made its debut on Wall Street and wants to compete with big brands in the sector like Mizuno and Asics. Initially, the company hoped to raise US$ 5 billion when it went public, but ended up making its debut with US$ 7.3 billion.
According to an article from the State of São Paulo, in Brazil, the brand is gaining ground through a marketing partnership with Track & Field. Among the Brazilian investors is Marc Lemann, son of Jorge Paulo Lemann, one of the founders of Ambev.
The brand has been attracting investors’ attention mainly because it is in disputed terrain, but manages to convince consumers to pay a “premium” price for its product. In Brazil, for example, On’s shoes start at R$800.
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In an interview with Estadão, the company’s co-president, Marc Maurero, stated that On is going to leave niche operations and seek new audiences. The company’s focus is also to fight in the lifestyle segment, in which the chances of invoicing are much greater.
The brand was created in 2010 by enthusiasts Olivier Bernhard, David Allemann and Caspar Coppetti, with Swiss Federer investing an undisclosed amount in the company in 2019. 20-time Grand Slam tournament champion (the four most important competitions in the world), Federer joined the company to develop the Roger Pro sneaker.
Currently, the company is present in more than 8,000 retailers in 55 countries. Headquartered in Zurich, Switzerland, with offices in the United States, Australia, Japan and Brazil, the company reported net income of US$4.2 million in the first half of 2021.
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