On

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On is a Swiss premium sportswear brand best known for running shoes built around its CloudTec cushioning system.

Last updated August 31, 2026

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Overview

On, legally associated with On Holding AG, is a Swiss athletic footwear and performance sportswear company headquartered near Zurich. The brand was founded in 2010 by Olivier Bernhard, a former professional triathlete and Ironman champion, together with David Allemann and Caspar Coppetti. Its central product idea is CloudTec, a cushioning construction made from separate foam elements beneath the shoe. On describes these elements as compressing on landing and joining into a firmer platform during push-off. The technology gave the company a distinctive visual identity and helped separate its products from more conventional foam midsoles. The initial concept developed from Bernhard's experimentation with a garden hose and the search for a different type of impact protection. Bernhard had been a Nike athlete and reportedly presented an early prototype to Nike, where it was not accepted. On was incorporated as a sporting-goods company in 2010 and began building its reputation through specialist running retail, athlete relationships, and performance-focused product development. The Cloudracer, introduced in 2012, became an important early performance model and was associated with Swiss triathlete Nicola Spirig. On's range has expanded beyond technical road-running shoes. Its portfolio includes daily trainers, high-cushion models, racing shoes, trail and outdoor footwear, tennis shoes, lifestyle sneakers, apparel, and accessories. The Cloudstratus and Cloudmonster represent different approaches to high-volume cushioning, while The Roger, developed with tennis champion Roger Federer, extended the brand into lifestyle and court-inspired footwear. The company has also developed highly specialized racing products, including Cloudboom models and the Cloudboom Strike LS, which was introduced around the 2024 Olympic Games and used a lightweight, digitally produced upper construction. The United States became On's largest individual market, while the brand also developed a substantial presence in Europe and other international markets. Reference material describes products being sold through thousands of retailers across dozens of countries, alongside growth in direct-to-consumer e-commerce and branded stores. Manufacturing has increasingly shifted from China toward Indonesia and Vietnam. On also uses athlete sponsorships, professional teams, and innovation narratives to support a premium-performance positioning rather than competing primarily on low price. The company expanded its sporting ecosystem through the On Athletics Club, a professional running group coached by Dathan Ritzenhein, and through sponsorships of runners, triathletes, and tennis players. Roger Federer became a shareholder in 2019, and the partnership produced The Roger collection from 2020. On listed on the New York Stock Exchange in September 2021 under the ticker ONON, raising approximately $746 million in its initial public offering. The founders have remained involved in governance and product direction. David Allemann and Caspar Coppetti have served as executive co-chairmen, while Bernhard has focused on product and innovation. On reported CHF 2.32 billion in sales and CHF 242.3 million in profit for 2024, according to the cited company and reference reporting. Its continuing expansion reflects a strategy built on technical differentiation, premium pricing, controlled brand presentation, athlete credibility, and international distribution. The business remains active and is primarily identified with performance running, although its ambitions encompass broader sportswear and lifestyle categories.

History

On was incorporated in Switzerland in 2010 by Olivier Bernhard, David Allemann, and Caspar Coppetti. Bernhard's experience as a professional triathlete informed the company's focus on running mechanics and performance. The founding product concept centered on CloudTec, a cushioning structure using discrete foam elements under the foot. The company says the idea emerged from Bernhard's experiments with a garden hose and from efforts to create a landing surface that could cushion impact while becoming more stable during toe-off. The brand initially developed through specialist running stores and athlete-led product credibility. Its early international growth was supported by distribution across Europe and other markets. The Cloudracer, released in 2012, helped establish On in performance competition and gained visibility through its association with Swiss triathlete Nicola Spirig. The company continued to build a recognizable design language around visible cushioning pods and lightweight construction. During the following decade, On broadened its product portfolio from road-running shoes into apparel, accessories, trail products, racing footwear, tennis, and lifestyle. The Roger partnership with Roger Federer was particularly important because it connected On's technical identity with a globally recognized tennis figure and created an avenue into casual footwear. Federer became a shareholder in 2019, and The Roger was released in 2020. On also invested in elite sport as an organizational platform. It founded and sponsored the On Athletics Club, coached by Dathan Ritzenhein, and supported athletes in track, road running, trail running, triathlon, and tennis. The company developed specialized footwear for elite competition, including bobsleigh shoes used at the 2022 Winter Olympics. In 2022 it launched the Cloudmonster, a highly cushioned model with a larger sole that represented the growth of maximalist running shoes. The company became publicly traded in 2021. Its New York Stock Exchange offering raised approximately $746 million, providing capital and public-market visibility for continued global expansion. The United States became its largest individual market, while Switzerland, Germany, and other European countries remained important to the brand's identity and distribution. Reference material states that, in 2019, On products were available through about 6,000 retailers in 55 countries; the company has since continued to develop direct retail and digital channels. Product and manufacturing innovation remained central to On's strategy. The Cloudboom Strike LS, associated with the 2024 Olympic Games, used a continuous-filament upper deposited robotically. The construction reduced the number of upper components and was promoted as a way to limit waste and potentially support more demand-responsive production. The company has also shifted shoe manufacturing from China toward Indonesia and Vietnam. On's leadership structure has combined founder involvement with professional management. Martin Hoffmann joined in 2013 as chief financial officer and later shared the CEO role with Marc Maurer from 2021 until 2025. Hoffmann became sole CEO in 2025, while Allemann and Coppetti remained executive co-chairmen and Bernhard continued to focus on product and innovation. The brand's recent development has therefore combined public-company scale with continued emphasis on technical footwear, premium positioning, athlete partnerships, and design-led international growth.

2025
Martin Hoffmann became sole CEO
[1]On (company)en.wikipedia.org
On ended its joint CEO structure, with Hoffmann assuming sole chief executive responsibility.
2024
Cloudboom Strike LS introduced
[1]On (company)en.wikipedia.org
The Olympic-era racing model used a robotically formed continuous-filament upper.
2022
Cloudmonster launched
[1]On (company)en.wikipedia.org
The model expanded On's high-cushioning range with a larger sole and maximalist design.
2021
On listed on the New York Stock Exchange
[1]On (company)en.wikipedia.org
On Holding AG began trading under the ticker ONON after an initial public offering.
2020
The Roger launched
[1]On (company)en.wikipedia.org
On released a Federer-linked lifestyle shoe, extending the brand into tennis-inspired casual footwear.
2019
Roger Federer became a shareholder
[1]On (company)en.wikipedia.org
Federer's investment created a long-term product and brand partnership.
2012
Cloudracer released
[1]On (company)en.wikipedia.org
The Cloudracer helped establish On as a performance-running brand and was associated with Swiss triathlete Nicola Spirig.
2010
On was founded in Switzerland
[1]On (company)en.wikipedia.org
Olivier Bernhard, David Allemann, and Caspar Coppetti founded the athletic footwear and sportswear company.

Products and positioning

Premium performance sportswear combining technical running innovation, distinctive design, athlete validation, and lifestyle appeal.

Cushioning technology · 2010
CloudTec
On's proprietary cushioning architecture uses separate foam elements beneath the shoe. The brand presents these elements as compressing during landing and forming a more stable base during push-off. CloudTec is the defining technical and visual feature across much of On's running range.
Performance running shoe · 2012
Cloudracer
Released in 2012, the Cloudracer was an early performance model intended for faster running and competition. Its association with Swiss triathlete Nicola Spirig helped give the young brand visibility in elite endurance sport.
Cushioned running shoe
Cloudstratus
Cloudstratus is a high-cushioning running line within On's road-running portfolio. It is designed for runners seeking a more substantial underfoot platform while retaining the brand's CloudTec-based construction.
Maximalist running shoe · 2022
Cloudmonster
Launched in 2022, Cloudmonster uses a visibly larger sole and a highly cushioned ride. The model marked a move toward the maximalist category within On's range and became one of the company's prominent consumer-facing running products.
Racing shoe
Cloudboom
Cloudboom is On's racing-oriented footwear family, developed for speed-focused road running and elite competition. The line includes technologically advanced constructions intended to reduce weight and support high-performance racing.
Elite racing shoe · 2024
Cloudboom Strike LS
Introduced for the 2024 Olympic period, the Cloudboom Strike LS uses a single continuous synthetic filament deposited robotically to form its upper. The construction reduced the number of upper components and was presented as a route toward lower waste and potentially more on-demand manufacturing.
Lifestyle and tennis-inspired sneaker · 2020
The Roger
The Roger is a lifestyle footwear collection developed with Roger Federer. First released in 2020, it translated elements of tennis footwear into a cleaner everyday sneaker format and helped On expand beyond specialist running consumers.

Marketing campaigns

2023On tennis athlete expansion
Global
On announced sponsorships involving Iga Świątek, Ben Shelton, and João Fonseca, extending its athlete marketing into international professional tennis.
Outcome. Broadened the brand's sports profile beyond running and triathlon.
Source
2022On Athletics Club
Global
On founded and sponsored a professional running group coached by Dathan Ritzenhein, using elite competition and athlete storytelling to support its performance positioning.
Outcome. Established a branded platform for track and road-running athletes.
Source
2020The Roger partnership
Global
On used its partnership with Roger Federer to launch The Roger, combining athlete association, tennis heritage, and lifestyle product design.
Outcome. Expanded On's visibility and product scope beyond performance running.
Source

Brand decisions

2025
Transition to a sole CEO structureStrategy
Background
On had operated with Marc Maurer and Martin Hoffmann sharing the CEO role from 2021 through early 2025.
Action taken
Martin Hoffmann assumed the sole chief executive position after the joint arrangement ended.
Aftermath
The change consolidated executive responsibility under Hoffmann while the founders remained involved in chairmanship and product direction.
Source
2024
Introduction of Cloudboom Strike LSProduct launch
Background
Elite racing footwear places emphasis on low weight, efficient construction, and rapid product innovation.
Action taken
On introduced a racing shoe with a robotically deposited continuous-filament upper and a substantially reduced component count.
Aftermath
The product strengthened On's innovation narrative and was associated with the 2024 Olympic Games.
Source
2022
Launch of CloudmonsterProduct launch
Background
The running market was seeing growing consumer interest in highly cushioned, maximalist shoes.
Action taken
On introduced the Cloudmonster with a larger sole and a more substantial cushioning profile than many earlier On designs.
Aftermath
The model became a prominent part of On's consumer running range and placed the company more directly in the maximalist category.
- Hoka — Reference commentary identified Hoka as a major competitor in specialized running and associated the maximalist design direction with that category.
Source
2021
Public listing on the New York Stock ExchangeOther
Background
On was seeking capital and a public-market platform to support expansion of its international sportswear business.
Action taken
On Holding AG completed an initial public offering and began trading under ONON.
Aftermath
The offering raised approximately $746 million and made On a publicly traded company.
IPO proceeds. Approximately $746 million raised (September 2021 IPO)
Source

Recent events

2025
Martin Hoffmann became On's sole chief executive[1]On (company)en.wikipedia.org
Leadership change
Following the end of the joint CEO arrangement, Martin Hoffmann assumed the sole CEO role.
2024
On introduced the Cloudboom Strike LS[1]On (company)en.wikipedia.org
Product launch · Product generation
The Olympic-era racing shoe used a robotically deposited continuous-filament upper designed to reduce weight, components, and manufacturing waste.
2024
On reported strong 2024 financial growth[1]On (company)en.wikipedia.org
Other
On reported CHF 2.32 billion in sales and CHF 242.3 million in profit for the year.
2024
On signed a partnership with Flavio Cobolli[1]On (company)en.wikipedia.org
Other
The company added Italian men's tennis player Flavio Cobolli to its sponsored athlete portfolio.
2023
On announced tennis partnerships with Iga Świątek, Ben Shelton, and João Fonseca[1]On (company)en.wikipedia.org
Other
The company expanded its tennis athlete network through agreements with leading women's and men's players.
2022
On launched the Cloudmonster[1]On (company)en.wikipedia.org
Product launch · Product generation
The Cloudmonster introduced a larger, highly cushioned sole and became a prominent example of On's maximalist running-shoe direction.
2021
On completed its New York Stock Exchange initial public offering[1]On (company)en.wikipedia.org
Other
On listed on the NYSE under ONON and raised approximately $746 million in its initial public offering.
2020
On introduced The Roger lifestyle shoe[1]On (company)en.wikipedia.org
Product launch
On and Roger Federer released a limited-edition lifestyle shoe that broadened the brand's reach beyond specialist running.
2019
Roger Federer became a shareholder in On[1]On (company)en.wikipedia.org
Other
Tennis player Roger Federer acquired a stake in On, establishing a strategic athlete and product partnership.

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