On
On is a Swiss athletic shoe and performance sportswear company that designs and markets running shoes and apparel using CloudTec cushioning technology.
- CEO / Founder
- Martin Hoffmann
- Team Size
- 1001-5000
- Stage
- Public
- Total Funding
- $746M
- Latest Round
- IPO
- Key Investors
- Roger Federer
Technology & Products
Key Products
Cloud running shoes; trail and hiking footwear; training and tennis products; performance apparel.
Technological Advantage
Proprietary CloudTec cushioning technology and Zurich-based product development through the On Lab.
Differentiation
Value Proposition
Premium performance footwear and apparel designed for responsive running comfort.
How They Differentiate
Competes as a premium running specialist through CloudTec cushioning and Swiss design; per CNBC (2025) holds under 3% of global athletic footwear market share versus Nike/Adidas combined 58%, but has grown rapidly and per Sherwood News is widening its lead over rival Hoka.
Market & Competition
Target Customers
Performance and recreational runners, athletes, and premium sportswear consumers.
Industry Verticals
Consumer athletic footwear and apparel.
Competitors
Nike; Adidas; Hoka (Deckers Brands); Brooks Running.
Growth & Milestones
Growth Metrics
Company states products used by over 7 million athletes in more than 50 countries; publicly traded with multi-billion dollar market cap as of 2026; global athletic footwear market share under 3% per CNBC 2025.
Major Milestones
2010: founded in the Swiss Alps; March 2010: won ISPO BrandNew Award; September 2021: completed NYSE IPO raising $746M at an $11B+ valuation; July 2025: Martin Hoffmann became sole CEO.