On (company)
This article was accepted into the corpus but its outbound wikilinks were never NER-processed — typical at the deepest BFS hop or when the run's entity cap was reached. No expansion funnel to show.
| On (company) | |
|---|---|
.png) | |
| Name | On |
| Type | Public |
| Industry | Sporting goods |
| Founded | 2010 |
| Founder | Olivier Bernhard; David Allemann; Caspar Coppetti |
| Headquarters | Zurich, Switzerland |
| Area served | Global |
| Products | Running shoes, apparel, accessories |
| Revenue | (2023) |
| Employees | (2023) |
On (company) is a Swiss athletic footwear and apparel manufacturer founded in 2010 by Olivier Bernhard, David Allemann, and Caspar Coppetti. The company is known for its distinctive CloudTec cushioning and rapid international expansion into markets such as United States, United Kingdom, Germany, France, and Japan. On pursued a direct listing on the NASDAQ and has competed with incumbents like Nike, Adidas, ASICS, and New Balance in the global running and lifestyle sectors.
History
On was established in 2010 following product development activities in Zurich and performance testing with athletes including triathletes and marathoners associated with Ironman World Championship competitors. The founders combined backgrounds from ETH Zurich, Swiss entrepreneurship networks, and product design influenced by sports engineering firms in Europe. Early market entry leveraged elite athlete endorsements such as involvement with Sebastian Kienle and Mirinda Carfrae to validate prototypes at events like the London Marathon and New York City Marathon. Expansion milestones included opening flagship stores in Zurich, New York City, and London and launching into retail partnerships with chains including Foot Locker and JD Sports. In 2021 the company completed a public listing on NASDAQ through a merger with a special purpose acquisition company, increasing visibility among institutional investors in New York and Zurich capital markets.
Products and Technology
On's product line centers on running shoes, training footwear, and performance apparel. The signature technology, CloudTec, incorporates hollow pod structures in the midsole to provide impact cushioning and energy return, developed through iterative R&D with engineers from ETH Zurich and materials specialists connected to suppliers in Germany and Italy. Later platforms introduced Helion and Helion Superfoam compounds and Speedboard or Speedboard Carbon fiber plates to modulate stiffness and propulsion, analogous to innovations by Nike React, Adidas Boost, and HOKA ONE ONE carbon-plated models. On expanded into trail running with models tested on terrain in the Alps and Sierra Nevada and into lifestyle apparel using textile mills in Portugal and Turkey. Product testing protocols referenced standards from organizations such as International Association of Athletics Federations and involved biomechanical labs affiliated with University of Zurich and sports science centers in Colorado Boulder.
Business Model and Financial Performance
On operates a mixed distribution model combining direct-to-consumer e-commerce platforms, wholesale relationships with retailers, and owned retail stores in strategic urban centers. The company reported rapid revenue growth driven by expansion in North America and Asia Pacific, with margins influenced by raw material costs and global logistics tied to shipping hubs like the Port of Shanghai and Port of Rotterdam. A public listing on NASDAQ provided capital for international growth, while competition with large multinational corporations pressured pricing and marketing spend. Financial results reflected typical retail seasonality, inventory management challenges akin to other apparel firms listed on exchanges such as NYSE and interdependence with currency fluctuations between the Swiss franc and US dollar.
Marketing and Sponsorships
On's marketing strategy emphasizes athlete storytelling, lifestyle photography, and event sponsorship. The brand sponsors elite runners and triathletes who compete at events like the Boston Marathon, Ironman World Championship, and World Athletics Championships. Collaborations include limited-edition capsule collections with designers and partnerships with sports media outlets and fitness platforms similar to campaigns seen with Strava and athletic collaborations involving Highsnobiety and fashion houses in Milan. On also engages in experiential retail activations at expos such as the ISPO Munich trade fair and runway-style presentations at fashion weeks in Paris.
Manufacturing and Supply Chain
On's manufacturing relies on a network of suppliers and contract manufacturers across Asia, Europe, and Latin America, sourcing materials from specialty foam producers in Germany and upper materials from suppliers in China and Vietnam. The company manages production planning to mitigate disruptions experienced industry-wide during events such as the COVID-19 pandemic and shipping bottlenecks at transshipment points like Singapore and the Suez Canal. Quality control and component testing draw on laboratory partnerships with institutions such as Empa and independent testing houses in Germany. Inventory distribution is routed through fulfillment centers in strategic logistics corridors serving North America and Europe.
Corporate Governance and Leadership
The company's leadership team includes founders with backgrounds in endurance sports and entrepreneurship, and board members with experience at multinational corporations, private equity firms, and public company boards. Governance practices have followed requirements for public companies listed on NASDAQ, including disclosures to the Securities and Exchange Commission and audit committee oversight by firms with Big Four accounting links. Executive appointments and strategic hires reflect recruitment from competitors and technology firms headquartered in regions such as California, Zurich, and London.
Sustainability and Corporate Responsibility
On has articulated sustainability commitments encompassing material sourcing, life cycle assessment, and social standards along its supply chain. Initiatives reference standards and frameworks used by industry peers and NGOs, engaging with certification bodies and textile traceability programs active in Portugal and Turkey. The company reported efforts to reduce carbon emissions intensity in operations and to increase the share of recycled content in products, aligning with broader commitments made across the sportswear sector to meet climate-related goals and consumer expectations.
Category:Sporting goods manufacturers of Switzerland Category:Companies established in 2010