The Swiss sports brand will continue to innovate, open stores and expand its geographical reach with the proceeds.
“From the very start,” he said, “the brand has consistently challenged the status quo. We always ask how can we do things differently, and that led us to become one of the fastest-growing sports brands,” Allemann said. North America is On’s largest market, representing 49 percent of sales, followed by Europe at 44 percent.
According to its letter to potential investors, “We will continue to make make calculated, courageous moves when venturing into the unknown, whether that is with new territories, new products, new materials, new business models or new consumers. Federer became an investor in the brand last fall and is involved in product development, marketing and fan experiences. He is also a representative for the brand.The funds raised by the IPO will allow On to expand its geographical reach, open more retail stores and continue to enhance its sustainability efforts, he said.
He attributed that in part to “performance taking over fashion,” a trend that started a few years ago and accelerated during the pandemic. “Life is changing, and sport and business lives are merging. The new generation doesn’t have the patience to switch between uniforms.” But Allemann stressed that sustainability is perhaps the company’s largest goal. “We are a Swiss brand, we grew up in nature — that’s our home,” he said. “And saving the planet is the most pressing issue of our time.”
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