Explosive growth, enduring communication, acceleration of innovation… In the business of sports shoes, one runs at a high speed. Between business and strategy, a look back at the highlights of this success story.
The story begins in the Swiss Alps where a retired athlete, Olivier Bernhard, is thinking about an innovative running shoe. The athlete begins by sticking pieces of garden hose to the outsole of his prototype. In 2010, the adventure takes a new turn…
Innovate: the key word
15 years ago, two running enthusiasts, David Allemann and Caspar Coppetti, joined Olivier Bernhard in his quest for high-performance shoes, with cushioned landings and explosive thrusts. It’s the birth of On.
The prototypes win the ISPO Brandnew Award and the first sneaker features the patented cloud-shaped pad system for dynamic cushioning dubbed CloudTec®. In 2012, we present the Cloudracer, a performance shoe acclaimed by the Swiss athlete Nicola Spirig. Its name refers to the sensation of lightness promised by the brand, similar to a race on clouds. “Technological innovation is at the heart of On. It is by testing and testing again that one reaches the best, without fear of failure, to start afresh or to break conventions. Dreaming of great ideas is good. Applying them in a concrete way is even better,” explains the brand on its site.
Throughout its journey, we have therefore focused on developing a multitude of innovations to boost the races of its customers. Super-lightweight foam for increased responsiveness Helion TM, integrated plate for maximum propulsion Speedboard®, outsole providing optimal grip on various terrains Missiongrip TM… So many patented techniques that have made the strength of the brand.
Address the entire running community
Today, the brand has developed several types of models adapted to each discipline. For example, there are Cloudsurfer and Cloudrunner for daily races, Cloudflyer for athletes needing stability and support, Cloudmonster and Cloudstratus with enhanced cushioning for long races, Cloudflow for speed and performance, Cloudventure for trails and Cloud X, more versatile. The goal? Respond to the needs of each specificity of foot racing, and therefore reach the entire community of athletes, from occasional runners to seasoned athletes in all sports through competitors.
And to speak to as many people as possible, On work on its collaborations, which guarantee great visibility and legitimacy in the industry. In recent years, we have announced partnerships with actress and fashion icon Zendaya, singer FKA twigs and singer Burna Boy.
All this is of course shared on the social networks of the brand, via a young, inclusive and artistic communication. On has 2.9 million followers on Instagram, 204,700 on TikTok, 97,300 on X, 72,100 on YouTube and 79,000 members on Strava, the running platform.
Revenue increasing year after year
In 2019, the brand was sold at 6,000 points of sale in 55 countries. The United States then represents the most important territory of the brand. According to estimates, this would have accounted for 2% of the global market share in sports shoes. Two years later, in 2021, On was listed on the New York stock exchange and its annual turnover reached two billion dollars, an increase of 70% compared to the previous year.
Last year, the brand achieved $2.9 billion in sales, up 29.4% from 2023, and recorded a net profit of $304 million, an increase of 204.5%. The gross margin of its activity was 60.6%. And in the first six months of 2025, net revenue increased again by 37.2% to reach $1.7 billion. The brand has grown significantly in Asia, with an increase of 130% in the first quarter (150 million dollars) and is expected to open new stores in China, boosting a sales space portfolio of 80 cases worldwide.
Sales growth is expected to be between 27% and 31% in 2025 at $3.2 billion in revenue. In 2026, the ambition is to double the turnover compared to 2023 and reach 3.9 billion dollars (+26%).
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Featured photo : © On
