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Why On Running Could Be Worth $6 Billion

With its upcoming IPO, the Roger Federer-backed Swiss sneaker upstart expects to raise as much as $622 million at a valuation above $6 billion on the back of its rapid growth and plans to push further into the lucrative lifestyle market.
A woman wears red and white On trainers running along a concrete road.
On's record quarter comes as the brand continues into categories outside of running footwear, including tennis and training apparel. (On )
By
BoF PROFESSIONAL

To become the global sneaker brand it is today, On Running had to overcome some challenges after launching in 2010. For one, it needed to attract shoppers well beyond its home base of Zurich, a small city not exactly known as a sneaker hotbed. It also needed to convince customers to choose its somewhat odd-looking footwear, with its midsole of segmented tubes, over products from established running brands like Brooks and Asics, not to mention giants such as Nike and Adidas.

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About the author
Marc Bain
Marc Bain

Marc Bain is Technology Correspondent at The Business of Fashion. He is based in New York and drives BoF’s coverage of technology and innovation, from start-ups to Big Tech.

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