Shares in rogerfederer backed shoe firm soar on debut
Shares in the Roger Federer-backed running shoe company On Holding jumped by almost 46% in their debut in New York on Wednesday.The listing comes at a time when running shoes have been selling well, as people seek to do more exercise outdoors in the pandemic.On was founded in 2010 by running enthusiasts Olivier Bernhard, David Allemann and Caspar Coppetti, with Mr Federer investing an undisclosed sum in the company in 2019.
The 20-times Grand Slam winner teamed up with the company earlier this year to develop the Roger Pro tennis shoe. The tennis player has worn the shoes at recent tournaments including Wimbledon. On also makes a 100% recyclable brand of running shoes, called Cyclon, made from castor beans. The shoes are available only on a subscription basis and have to be returned to the company for new ones once they wear out.
The company’s listing comes amid growing global demand and investor appetite for sustainable products. Other sustainability-focused companies that recently listed their shares baby good retailer Honest Co, run by Hollywood star Jessica Alba, and oat milk firm Oatly, which is backed by Oprah Winfrey.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Roger Federer-Backed On Holding Raises Over $600 Million in IPOThe Swiss sports brand will continue to innovate, open stores and expand its geographical reach with the proceeds.
Read more »
How This Swiss Shoemaker Convinced Tennis Legend Roger Federer To Invest In Their ‘Frankenstein’ SneakersTennis great Roger Federer met On’s founders in 2019 and took them out for dinner. Today he praises the shoe brand for how it ‘adapted’ to the pandemic.
Read more »
Drive-through drinks company Dutch Bros.’ shares jump 60% in their trading debutLaunched in Oregon in 1992 by third-generation dairy farmers, Dutch Bros. separates itself from the competition using music and speed.
Read more »
Tavi Gevinson Channels Twiggy for Roger VivierTracking the latest surprise models and photographers capturing the season for houses like Versace and Fendi.
Read more »
Roger Stone served with capitol riots lawsuit during radio interviewOn Wednesday, during an appearance on the Real Talk 93.3 radio show in St. Louis, Missouri, Stone was giving legal documents while answering a question regarding Trump's run in the forthcoming 2024 re-election.
Read more »
Lady Gaga poses alongside lookalike mom as she shares empowering messageLady Gaga took to Instagram to share a rare photo with her lookalike mom inside her Malibu mansion, which sparked reaction from fans
Read more »