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Swiss running brand On became $3 billion richer in the last week. It’s coming for Nike and Adidas next

Fortune LogoFortune15h ago

Swiss running brand On became $3 billion richer in the last week. It’s coming for Nike and Adidas next - Fortune

Quick Summary:

On, with the help of Zendaya, Roger Federer, and Elmo, keeps defying revenue expectations on its way to a $20 billion market cap.

For a company better known for design, innovation, and cool collaborations with Gen Z idols, finance will need to take a backseat.“The strength of On is not the numbers, it's the team,” said Hoffmann.“My goal was to enable this team to be at their best.

Maurer and Hoffmann both joined On from Swiss food retailer Valora in 2012 and 2013, respectively, as COO and CFO, with Maurer wooing his friend over to what was then a little-known running startup.

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Article Details

Author / Journalist: Ryan Hogg

Category: EconomyBusiness

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-17 @ 05:00:00 (15 hours ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 1050 words

Reading Time: 6 minutes read

Sentences: 6 lines

Sentence Length: 175 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 28758365

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Official Website: fortune.com

Update Frequency: 18 posts per day

Year Established: 1929

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News Last Updated: 8 hours ago

Coverage Areas: United States

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Publisher ID: #95

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