A year and a half after the entry into the capital of an exceptional partner, Roger Federer, ON Running is preparing for a listing on Wall Street. According to the advances of Reuters, the Swiss company specializing in running shoes is working with JP Morgan, Goldman Sachs, Morgan Stanley and Credit Suisse to take on the role of the freshman.
Luxury regulator, considering that at the moment the company would be valued between 4 and 6 billion dollars, therefore more than double the 2 billion of the latest capital increase conducted by venture capital funds, among which Stripes stands out. The operation would be expected in the autumn, and this would seem the right time after a first attempt explored a year ago (on much lower values).
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Founded in 2010 by former professional athlete Olivier Bernhard with friends David Allemann and Caspar Coppetti, ON Running has developed its own shoe concept based on lightness and thrust. With the entry of Federer she has also dedicated herself to tennis, but the recent fortunes are linked to the pandemic and the rediscovery of running by the general public.
According to the trade press, On Running saw an increase of more than 200% in online shoe sales during the pandemic. The brand also boasts a widespread presence in physical stores, being on sale in 6,500 stores in over 50 countries.