On Holding AG is a Switzerland-based company operating in the consumer-goods sector, within the athletic footwear and performance apparel industry. The company designs, develops, and markets running shoes, technical apparel, and sports-performance products.

Its business model combines product innovation, premium positioning, and a global omnichannel distribution strategy.

Core activities include:

• Development of running shoes (road, trail, training, and lifestyle)
• Technical apparel focused on performance and sustainability
• Product innovation based on biomechanics and material engineering
• Direct-to-consumer sales, retail stores, and wholesale partnerships
• Athlete sponsorships and sports marketing

A key differentiator is its proprietary cushioning technology, based on segmented outsole structures designed to improve impact absorption, energy return, and running efficiency.

On operates globally across Europe, North America, Asia, and Oceania, with a growing presence in major international markets.

Performance is influenced by consumer demand for premium athletic products, competition in the sportswear industry, supply-chain costs, innovation cycles, and sustainability trends.

On Holding AG is listed on the New York Stock Exchange (NYSE) under the ticker ONON.

History and Development

On was founded in 2010 in Zurich, Switzerland, by Olivier Bernhard, Caspar Coppetti, and David Allemann, with the goal of introducing a new cushioning concept for running shoes.

In its early years, the company focused on validating its technology with athletes and expanding distribution through specialized retailers in Europe.

Throughout the 2010s, On broadened its product portfolio and expanded internationally, particularly into the United States, strengthening its position in the premium performance-footwear segment.

The company also advanced its research and development efforts, refining materials and product design while entering the technical apparel category.

In 2021, On completed its initial public offering (IPO) on the NYSE, supporting further global expansion and brand development.

Since then, the company has continued to scale its retail presence, diversify its product lines, and reinforce its positioning as a technology-driven premium sports brand.