The shares of the Zurich-based running shoe company On are on a high. The founders are also taking advantage of this to make money.
The On shoes are popular with many Swiss people. – keystone
The most important things in brief
- The On founders are selling shares worth around 70 million francs.
- They are taking advantage of the current time frame in which the stock is currently flourishing.
Ad
It’s like walking on clouds. This is the slogan used by the Swiss company On to advertise its trendy sneakers, which are also endorsed by former tennis star Roger Federer. And business is booming.
The Zurich-based company was able to increase sales in the second quarter by 28 percent to 568 million francs. This is what the Handelszeitung writes.
In the first quarter, the running shoe company had already exceeded the record figures from the previous year.
Roger Federer advertises for On. 
The On founders are selling shares worth around 70 million francs. 
They are taking advantage of the current time frame in which the stock is currently flourishing.
This also pleases the stock exchange in New York, where the company is listed. Since the beginning of the year, On’s share price has risen by a whopping 65 percent. In May, the mark of $35.40 per share was reached. The company launched on the stock exchange with this value in September 2021.
The stock is now trading at around $44. Compared to the all-time high in November 2021, that’s only a difference of $7.
This upward trend also pleases the three founders of On (Caspar Coppetti, David Allemann and Olivier Bernhard) and three other On managers: They are taking advantage of the good situation on the stock market to raise money.
Shares are bought or sold automatically
They sold parts of their share packages on a large scale. According to the specialist portal “Tippinpoint”, the shares are worth a total of 83 million dollars. Accordingly, the managers earned the equivalent of around 70 million Swiss francs!
Do you have stocks?
43%
Yes, I am interested in the stock market.
1
Yes, I am interested in the stock market.
15%
Yes, but in some package that I don’t have to worry about myself.
2
Yes, but in some package that I don’t have to worry about myself.
43%
No, that’s not for me.
3
No, that’s not for me.
A spokeswoman for the company stressed to the «Trade newspaper»that the share sales were “nothing unusual.” They took place as part of existing, long-term sales plans. Shares are automatically bought or sold as soon as they reach a certain fixed price.
The spokeswoman continues: “All founders and members of the management team continue to hold the vast majority of their assets in the company. And are therefore not only emotionally but also financially tied to the long-term success of On.”
Ad
Ad
More on the topic:
Roger FedererFrancDollarShare
