The sneakers Roger Federer’s jumps onto the floor. On, a Swiss sports shoe company owned by the tennis player, finalizes its listing for the next fall. The valuation could be as high as $ 5 billion, as advanced Reuters.
On is already working with banks such as Goldman Sachs, Morgan Stanley and JP Morgan Chase for its public offering for sale, which is expected to be in the United States. The expected valuation would more than double the current one, which is around $ 2 billion.
The company does not disclose its billing data, but points out that it more than tripled its sales last year thanks to the expansion of sports practice due to the pandemic, which has accelerated plans to go public.
On was founded in 2019 and Federer entered the capital in 2019
On launched in 2010 by David Allemann, Olivier Bernhard and Caspar Coppetti. In 2019, Federer entered the capital of the company, although the participation is unknown, and after breaking with Nike he began to wear On on the track.
According to the latest available data, provided by On in 2019, the company employs 400 people and holds 40% of the Swiss running shoe market and 10% in Germany. The company is headquartered in Zurich, has offices in six countries and distributes its products through 4,000 points of sale in fifty markets, in addition to its website.
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