On
On is a Swiss athletic footwear and performance sportswear brand known for its CloudTec cushioning system and premium running products.
Last updated October 7, 2026
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Overview
On is a Swiss athletic footwear and performance sportswear company operated by On Holding AG. The brand develops, markets, and sells running shoes, training footwear, outdoor and trail products, tennis footwear, apparel, and accessories. It is best known for CloudTec, a cushioning concept based on hollow or segmented structures intended to compress on landing and provide a firmer platform during push-off. The technology has become the central visual and technical signature of the brand. The company was incorporated in 2010 by Olivier Bernhard, a former Swiss Ironman champion, together with David Allemann and Caspar Coppetti. Bernhard's early experimentation with cushioning reportedly involved a garden hose, which helped inspire the distinctive sole geometry later used by On. A prototype was presented to Nike during Bernhard's period as a Nike athlete but was not accepted. The founders subsequently developed the concept independently and positioned On around Swiss engineering, technical performance, distinctive design, and a premium direct-to-consumer and specialty-retail model. On gained early recognition in performance running. The Cloudracer, introduced in 2012, was associated with Swiss professional triathlete Nicola Spirig and helped establish the company among endurance athletes. The brand subsequently expanded beyond specialist running into lifestyle footwear, training, trail running, tennis, apparel, and sports equipment. Its products are sold through the company's own stores and digital channels as well as a large network of sporting-goods and specialty retailers. By 2019, On products were reportedly available through approximately 6,000 retailers in 55 countries. Switzerland remained an especially strong market, while the United States became its largest individual market. A significant commercial and cultural development came in 2019, when Swiss tennis champion Roger Federer became a shareholder and strategic collaborator. Their partnership produced The Roger, a lifestyle and tennis-inspired footwear line launched in 2020. This helped broaden On's visibility beyond dedicated runners and connected its technical identity with premium everyday footwear. On became a publicly traded company in September 2021 through an initial public offering on the New York Stock Exchange. The listing provided capital for international expansion, product development, distribution, and brand building. The company has continued to emphasize full-price selling, digital commerce, wholesale relationships, athlete partnerships, and owned retail. It has also invested in advanced manufacturing and product experimentation, including the Cloudboom Strike LS, a lightweight racing shoe developed for the 2024 Olympic period with a robotically deposited filament upper. The brand supports elite sport through On Athletics Club, a professional running group coached by Dathan Ritzenhein, and through sponsorships involving runners, triathletes, and tennis players. On has also supplied specialized bobsleigh footwear and expanded its athlete portfolio with tennis players including Iga Świątek, Ben Shelton, João Fonseca, and Flavio Cobolli. Manufacturing has increasingly shifted from China toward Indonesia and Vietnam. On's market position combines technical running credibility, fashion-conscious design, premium pricing, and an image of Swiss innovation. Its closest competitors in specialized running include established performance brands such as Nike, adidas, ASICS, New Balance, Brooks, Saucony, and Hoka. The Cloudmonster, launched in 2022, represented a move toward a more maximalist, highly cushioned silhouette and illustrated the brand's effort to compete across the broader premium running market. In 2024, On reported sales of CHF 2.32 billion and net profit of CHF 242.3 million, according to the cited company reference material.
History
On began in Switzerland in 2010, founded by former Ironman athlete Olivier Bernhard and entrepreneurs David Allemann and Caspar Coppetti. The founders sought to create a different approach to running-shoe cushioning. Bernhard experimented with a hose-like form that suggested a segmented sole structure. The resulting concept became CloudTec, in which sole elements compress during impact and are intended to form a stable platform as the runner transitions into push-off. The company initially concentrated on technical running and endurance sport. Its early products attracted specialist attention because of their unusual sole geometry and Swiss performance positioning. The Cloudracer, introduced in 2012, was used by Swiss triathlete Nicola Spirig and helped establish the young company in competitive endurance circles. On subsequently developed a wider Cloud family and expanded its footwear, apparel, and accessory ranges. International distribution grew rapidly. By 2019, the brand was reportedly present in approximately 6,000 retail locations across 55 countries, with particularly high market penetration in Switzerland and a growing presence in Germany. The United States became On's largest individual market and later an important source of global growth. The company combined specialty retail with its own stores and online channels, supporting a premium brand image and greater control over presentation and pricing. In November 2019, Roger Federer became a shareholder and collaborator. The partnership brought a globally recognized athlete into the company's ownership and product-development story. The Roger, a lifestyle shoe introduced in 2020, helped On reach consumers outside the core technical-running audience while retaining a connection to tennis and premium sports design. On Holding went public on the New York Stock Exchange in September 2021 under the ticker ONON. The offering raised approximately $746 million and gave the company additional resources for international distribution, product innovation, marketing, and retail development. The founders remained involved after the listing, with Allemann and Coppetti serving as executive co-chairmen and Bernhard continuing to focus on product and innovation. The brand continued to broaden its performance portfolio. On Athletics Club was established as a professional running group coached by Dathan Ritzenhein, providing a platform for elite runners and a visible connection to competition. The company also supported runners, triathletes, and tennis players and developed bobsleigh footwear used in connection with the 2022 Winter Olympics. The Cloudmonster, released in March 2022, marked a move toward a larger and more maximalist sole profile, placing On more directly in the highly cushioned segment of the running market. In 2023 and 2024, On intensified its tennis activity through partnerships with Iga Świątek, Ben Shelton, João Fonseca, and Flavio Cobolli. It also promoted manufacturing and material innovations. The Cloudboom Strike LS, associated with the 2024 Olympic period, used a robotically deposited continuous-filament upper that reduced the number of upper components and was presented as a route toward less waste and more responsive production. On's manufacturing footprint has shifted from China toward Indonesia and Vietnam. Its current business combines performance running, lifestyle footwear, tennis, trail and outdoor products, apparel, athlete sponsorship, wholesale distribution, owned retail, and e-commerce. The company has positioned itself between specialist technical credibility and premium lifestyle appeal, competing with both established global sportswear companies and focused running brands such as Hoka. In 2024, On reported sales of CHF 2.32 billion and profit of CHF 242.3 million. Leadership evolved in 2025 when Martin Hoffmann moved from a joint CEO arrangement with Marc Maurer to the sole CEO role.
- 2025
Martin Hoffmann becomes sole CEO
[1]The company ends its joint CEO structure, with Hoffmann assuming sole responsibility for the role.
- 2024
Cloudboom Strike LS and strong annual results
[1]On promotes the Cloudboom Strike LS around the Olympic period and reports CHF 2.32 billion in sales for the year.
- 2023
Major tennis athlete partnerships announced
[1]On announces partnerships with Iga Świątek, Ben Shelton, and João Fonseca.
- 2022
Cloudmonster launches
[1]On enters a more pronounced maximalist-cushioning segment with the Cloudmonster.
- 2021
New York Stock Exchange listing
[1]On Holding completes its initial public offering and begins trading under ONON.
- 2020
The Roger is introduced
[1]On launches a lifestyle footwear collaboration with Roger Federer.
- 2019
International retail expansion and Federer partnership
[1]On reaches thousands of retailers internationally, while Roger Federer becomes a shareholder and collaborator.
- 2012
Cloudracer launches
[1]The Cloudracer helps establish On in performance running and is associated with triathlete Nicola Spirig.
- 2010
On is founded in Switzerland
[1]Olivier Bernhard, David Allemann, and Caspar Coppetti establish the athletic footwear company.
Products and positioning
Premium, design-led athletic performance built around Swiss engineering, distinctive cushioning technology, direct consumer relationships, and strong connections to elite endurance and tennis athletes.
Running and lifestyle footwear
Cloud footwear family
The Cloud family is the visual and commercial foundation of On's footwear range. Its shoes use the brand's segmented CloudTec sole elements and are offered in versions spanning everyday running, walking, training, and lifestyle wear. The line connects On's technical cushioning story with a casual silhouette suitable for daily use.
Performance running shoe · 2012
Cloudracer
Introduced in 2012, the Cloudracer is a performance-oriented running shoe associated with On's early growth in competitive endurance sport. It helped demonstrate that the young company could serve serious runners and triathletes rather than only the lifestyle market.
Maximalist road-running shoe · 2022
Cloudmonster
The Cloudmonster, launched in 2022, uses a substantially larger sole profile than many earlier On models. It targets runners seeking a highly cushioned road shoe and represents the brand's response to the growing popularity of maximalist running footwear.
Racing footwear
Cloudboom
Cloudboom is On's high-performance racing family, developed for fast road competition and elite athletes. The range emphasizes low weight, propulsion, and race-oriented construction rather than the everyday comfort priorities of the broader Cloud line.
Elite racing shoe · 2024
Cloudboom Strike LS
The Cloudboom Strike LS was introduced for the 2024 Olympic period. Its upper is made by robotically depositing one continuous synthetic filament, reducing the number of upper components and producing a lightweight, close-fitting construction. The shoe weighs approximately 6 ounces and was promoted as a platform for more efficient, potentially on-demand manufacturing.
Lifestyle and tennis-inspired footwear · 2020
The Roger
The Roger is a lifestyle footwear collection developed with Roger Federer. First introduced in 2020, it translated elements of tennis footwear into a premium everyday sneaker and broadened On's appeal beyond specialist runners.
Performance sportswear
On apparel and accessories
On sells apparel and accessories for running, training, trail activity, and everyday sport. These products extend the brand's technical and minimalist design language beyond footwear and support a broader full-outfit relationship with consumers.
Marketing campaigns
- 2024Flavio Cobolli partnership
Global · Italy
On signed a partnership with Italian tennis player Flavio Cobolli.
Outcome. The agreement added another rising men's tennis player to the company's athlete network.
- 2023Expanded tennis athlete program
Global
On announced partnerships with Iga Świątek, Ben Shelton, and João Fonseca.
Outcome. The partnerships increased the visibility of On's tennis footwear and apparel ambitions.
- 2022On Athletics Club
Global
On founded and sponsored a professional running group coached by Dathan Ritzenhein and populated by elite athletes.
Outcome. The program strengthened the brand's credibility in high-level track, road, and endurance competition.
- 2020The Roger launch
Global
On and Roger Federer introduced The Roger, a limited-edition lifestyle shoe rooted in tennis design.
Outcome. The product gave the company a prominent lifestyle proposition alongside its performance-running lines.
- 2019Roger Federer strategic partnership
Global
On made Roger Federer a shareholder and strategic collaborator, linking the brand to one of the most recognizable figures in international tennis.
Outcome. The partnership supported On's expansion from specialist running into premium tennis and lifestyle footwear.
Brand decisions
2024
Development of Cloudboom Strike LSProduct launchBackground
On sought new construction methods for elite racing footwear that could reduce weight, component count, and manufacturing waste.
Action taken
The company introduced the Cloudboom Strike LS with a robotically deposited continuous-filament upper.
Aftermath
The product became a showcase for automated construction, lightweight racing design, and the possibility of more demand-responsive production.
2024
Manufacturing shift toward Indonesia and VietnamStrategyBackground
On's footwear supply chain had historically included production in China, while the company sought to develop a broader manufacturing footprint.
Action taken
Production was increasingly moved from China to Indonesia and Vietnam.
Aftermath
The change diversified the manufacturing base, although the cited material does not quantify its financial or capacity effects.
2022
Launch of CloudmonsterProduct launchBackground
The running market was increasingly receptive to shoes with large, highly cushioned midsoles, a segment strongly associated with brands such as Hoka.
Action taken
On introduced the Cloudmonster with a substantially larger sole and a maximalist cushioning profile.
Aftermath
The launch broadened On's road-running range and increased its direct competition in the premium maximalist category.
2021
Public listing on the New York Stock ExchangeOtherBackground
After rapid international growth and reported exploration of an IPO, On Holding pursued a United States public-market listing.
Action taken
The company completed an IPO in September 2021 and began trading under ONON, raising approximately $746 million.
Aftermath
The listing gave On capital and public-market visibility to support expansion, innovation, and distribution.
IPO proceeds. Approximately USD 746 million raised (September 2021)
Recent events
- 2025
Martin Hoffmann becomes sole CEO[1]
Leadership change
Martin Hoffmann assumed the sole chief executive role after a period in which he and Marc Maurer jointly served as co-CEOs.
- 2024
On introduces Cloudboom Strike LS[1]
Product launch · Product generation
On introduced a lightweight racing shoe featuring a robotically deposited continuous-filament upper and promoted it for elite competition around the 2024 Olympic Games.
- 2024
On signs tennis partnership with Flavio Cobolli[1]
Campaign
The company added Italian men's tennis player Flavio Cobolli to its athlete partnership portfolio.
- 2024
On reports strong 2024 financial growth[1]
Other
On reported sales of CHF 2.32 billion and profit of CHF 242.3 million for 2024.
- 2023
On announces tennis partnerships with Iga Świątek, Ben Shelton, and João Fonseca[1]
Campaign
On broadened its tennis presence by announcing partnerships with leading women's and men's players.
- 2022
On launches Cloudmonster[1]
Product launch · Product generation
The Cloudmonster expanded On's range toward a more heavily cushioned, maximalist road-running shoe.
- 2021
On completes New York Stock Exchange IPO[1]
Other
On Holding became publicly traded in the United States after an initial public offering that raised approximately $746 million.
- 2020
On launches The Roger[1]
Product launch
On introduced The Roger, a limited-edition lifestyle shoe developed with Roger Federer.
- 2019
Roger Federer becomes an On shareholder[1]
Other
Swiss tennis player Roger Federer took an equity position in On and began a strategic product collaboration with the brand.
Sources4 sources
- 1On (company)en.wikipedia.org
- 2Soccer superstar Kylian Mbappé on ending 20-year journey with Nike: 'It was time to change'cnbc.com
- 3Swiss Sportswear Brand On Expands Presence in South America with New Store in Chile - press.on-running.comnews.google.com
- 4What's gone wrong at Nike? How the world's sportswear giant lost its mojobbc.co.uk
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