Swiss brand On gains $3 billion, targets top spot in running market, key competitor Nike falters

From Yahoo Finance: 2025-05-17 01:00:00

On running shoes’ co-CEO, Martin Hoffmann, to take sole charge as co-founder Marc Maurer exits after 14 years. The company’s value hit $19.65 billion, making it the third most valuable publicly traded footwear brand globally, key competitor Nike’s shares have plummeted 15% this year. On aims to dominate the running market.

On’s success stems from word-of-mouth marketing and a surge in running popularity among younger people. Partnering with celebrities like Zendaya has boosted appeal. The brand strategically places its 53 stores to maintain exclusivity while expanding. On’s vision is to become the top running brand globally, targeting a 10% market share.

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