On
Public Swiss performance footwear and apparel brand.
Available information varies by company and source.
Profile record updated:
Company facts
- Official name
- On Holding AG
- Entity type
- COMPANY
- Founded
- 2010
- Headquarters
- Förrlibuckstrasse 190, 8005 Zürich, Switzerland
- Company size
- >5,000
- Market role
- Advertiser / Brand
- Ticker
- ONON
- Official website
- on.com
What On does
On Holding AG creates value by designing and commercialising branded sportswear products, then distributing them through its owned digital storefronts and other retail channels. The model combines brand building, product development and international distribution, with revenue generated from sales of footwear, apparel and accessories rather than software, advertising technology or services.
Category differentiation
On Holding AG is a consumer sportswear company, not an adtech, martech or software platform. It sells physical footwear, apparel and accessories under the On brand.
Strategic context
AI-supported assessment from the existing company research; distinguish interpretation from sourced facts.
On Holding AG is a Swiss public consumer brand that designs, manufactures and sells performance footwear, apparel and accessories under the On brand. Its product range spans running, outdoor, training, all-day activities and tennis. The company operates through a global branded web presence and regional sites, and its economic role is that of an advertiser and brand owner selling physical goods to consumers. The company makes money by selling branded products through direct digital commerce and broader retail distribution. Its primary customers are consumers buying premium sportswear products, while its operating structure as a listed holding company supports international brand expansion, regional market execution and category growth across footwear and apparel.
Company news briefing
Briefing updated:
On reported Q2 2026 revenue of CHF 850.3m, marking a 13.5% year-on-year increase alongside expanded gross margins of 65.4%, though currency headwinds prompted a downward revision of full-year growth outlooks. Expanding beyond its core running footprint, On officially entered the soccer market by signing Kylian Mbappé to lead its football division, elevating Thierry Henry as director of football, and deepening partnerships with FC Barcelona. Furthermore, the brand announced an upcoming Investor Day for September 2026, while domestic regulatory tensions surrounding Swiss labelling rules, known as 'Lex On', continue to face opposition from the Swiss Trade Association.
Business model & monetisation
The company monetises through one-time product sales of footwear, apparel and accessories under the On brand. Revenue is driven primarily by retail margin from direct-to-consumer e-commerce and supported by wholesale or other third-party retail distribution. There is no evidence here of subscription, licensing or advertising-led monetisation as core revenue streams.
- Direct-to-consumer online sales
- Retail Margin
- Wholesale and partner retail distribution
- Retail Margin
- Accessories sales
- One-time Sale
Products & capabilities
No products with linked sources are available in this view.
Recent recorded signals
Dates refer to the source publication. Older entries are historical context, not evidence of a new event.
On signs Mbappé as it preps soccer entry
Brand & Marketing · Recorded impact score: 2/5
Swiss sportswear brand On has officially entered the soccer market by signing French superstar Kylian Mbappé as its newest brand ambassador. Mbappé, captain of the French national team and Real Madrid striker, will collaborate with product developers to test and refine future football footwear and apparel, marking a shift from traditional endorsements. The announcement coincided with Thierry Henry's appointment as Director of Football and the expansion of Swiss national player Sydney Schertenleib's role to include product development. On plans to leverage its LightSpray technology for football products, representing its largest step beyond running. Analysts view this as a strong start but caution about challenges competing with Nike and Adidas, citing performance credibility and low margins on cleats.
- On signed Kylian Mbappé as brand ambassador for its football division; financial terms and duration were not disclosed.
- Mbappé will work with product developers to test and refine football footwear and apparel.
On to Host Investor Day on Tuesday, September 22, 2026
Recorded impact score: 3.5/5
On announced it will host an Investor Day on September 22, 2026. The announcement was added to the newsroom on September 8, 2026.
On launches limited sneaker honoring Federer
Product Launch · Recorded impact score: 1/5
On, the Zurich-based sports brand, is releasing a limited edition of its 'THE ROGER Centre Court' sneaker to mark Roger Federer’s induction into the International Tennis Hall of Fame. The campaign includes a film titled 'The Boy from Basel' that traces Federer’s youth, and On will sell the 'International Tennis Hall of Fame Edition' exclusively via on.com starting August 25, 2026. The edition is globally limited to 20,000 pairs and features Ivory and Fern colors, a grass-green insole (reportedly suggested by Federer) and a gold racket emblem on the heel. The article notes Federer has been an investor and brand ambassador for On since 2019 and held a stake following On’s 2021 IPO.
- On is launching a limited special edition of the model 'THE ROGER Centre Court' to mark Roger Federer’s Hall of Fame induction.
- On will make the 'International Tennis Hall of Fame Edition' available exclusively on on.com from August 25, 2026 (per the article).
Ignore Easy Answers for Nike’s Decline
Advertiser / Brand · Recorded impact score: 2/5
A Digiday analysis (Aug 21, 2026) argues Nike has failed to capitalise on a resurging U.S. running market despite overall category growth. The article notes the U.S. running equipment market was valued at $12.9 billion and that performance footwear sales rose 13% in H1 2026, yet competitors such as On, Hoka and Brooks have outperformed Nike — Brooks reported a 14% revenue increase in the first half of 2026. The piece frames this as a marketing and competitive-positioning issue rather than a single obvious cause.
- Article published on Digiday on 2026-08-21.
- U.S. running equipment market was valued at $12.9 billion (source linked to Ken Research).
On boosts revenue and margins in Q2 2026
Financials · Recorded impact score: 4/5
Swiss sportswear maker On continued growth in Q2 2026 and improved profitability. Reported revenue rose 13.5% year-on-year to CHF 850.3m (FX-adjusted +21.6%). Direct-to-consumer (DTC) sales increased 26.0% to CHF 388.4m (FX-adjusted +34.3%), reaching a 45.7% share of total sales. Asia-Pacific led regional growth (+43.1% to CHF 170.5m; FX-adjusted +54.7%). Gross profit rose 20.6% to CHF 555.7m and gross margin expanded 3.9 percentage points to 65.4%. Adjusted EBITDA increased 23.5% to CHF 168.1m (margin 19.8%), and net profit was CHF 105m versus a CHF 40.9m loss a year earlier. For the first half, revenue was CHF 1.682bn (up 14.0%; FX-adjusted +24.0%). On raised its full-year gross margin target to at least 65.0% and reiterated an adjusted EBITDA margin guidance of 19.5–20.0%.
- On reported Q2 2026 revenue of CHF 850.3 million, up 13.5% year-on-year (FX-adjusted +21.6%).
- Direct-to-consumer revenue grew 26.0% to CHF 388.4 million and reached a 45.7% share of total sales in Q2.
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Questions about On
What is On?
On is a Swiss public performance footwear and apparel company that sells running shoes, apparel and accessories under the On brand.
Who uses On?
On serves consumers buying performance and lifestyle sportswear, particularly for running, outdoor, training, all-day activities and tennis.
How does On make money?
On generates revenue from one-time sales of branded footwear, apparel and accessories through direct online commerce and retail distribution.
Sources & coverage
This profile uses public, official and technically observable information. Missing information does not prove that a product or relationship does not exist. The list below does not imply that every profile statement has been verified.
10 publicly documented primary sources and citations linked across the market graph.
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