On, backed by tennis legend Roger Federer, sets ambitious goals to double expected 2023 sales in the next three years. The brand’s trajectory, from Federer’s investment to IPO success, marks a remarkable journey.
On’s Growth Mission
Endorsed by Federer in 2019, On aims to not only dominate the sports trainer market but become the most premium global sportswear brand. Co CEO Marc Maurer expresses pride in the brand’s achievements, highlighting a robust strategy, innovative products, and a vast market.
Financial Triumphs
August’s trading statement revealed a 52% surge in Q2 sales, reaching 444 million Swiss francs. Underlying earnings nearly doubled, hitting 62.7 million CHF. Although On’s shares initially dipped post IPO, the market cap surged from US$6.5 billion to US$7.95 billion.
Federer’s Stake
Roger Federer, with a 3% stake in On, has witnessed substantial returns. Initially valued at US$180 million during the IPO, his shares now potentially exceed US$238 million, surpassing his tennis career earnings.
Market Dynamics
Despite challenges, On maintains a strong market presence. While shares currently trade flat in the US pre market, the brand’s resilience hints at future growth.
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