Introduction
Olivier Bernhard wanted to create a running shoe that felt different. After experimenting with an unusual prototype made from pieces of garden hose, he teamed up with Caspar Coppetti and David Allemann to launch On in Switzerland in 2010.
What began as an unconventional footwear idea grew into a premium sportswear brand known for its CloudTec® technology, distinctive shoe designs, and partnerships with elite athletes. From Roger Federer’s involvement to its expansion into football, On’s journey shows how a focused product innovation can become the foundation of a global business.
Here is how Olivier Bernhard and his co-founders built On, turned a new approach to running into a recognizable brand, and positioned the company to compete with some of the biggest names in sportswear.
Who Is Olivier Bernhard?
Olivier Bernhard is a Swiss former professional triathlete and one of the co-founders of On. His background in endurance sports shaped the idea behind the company: create a running shoe that combines soft landings with powerful takeoffs.
Bernhard’s experience as an athlete gave him a practical understanding of what runners needed from their footwear. Rather than approaching the opportunity as a conventional product developer, he began experimenting with ways to improve the feeling of running itself.
His early work eventually led to the development of CloudTec®, the cushioning technology that became central to On’s identity. After retiring from competitive sport, Bernhard partnered with Caspar Coppetti and David Allemann to bring the concept to market.
He continues to contribute to On’s product innovation, drawing on his athletic experience and his interest in developing new technologies for runners.
How On Running Started
On’s story began with a problem Bernhard wanted to solve through his own experience as a runner. He envisioned a shoe that could deliver a soft landing without sacrificing the energy and responsiveness needed for the next stride.
His first prototype was unconventional. Using pieces of garden hose attached to a shoe outsole, Bernhard began testing a concept that looked very different from traditional running footwear.
The idea eventually became the foundation of On’s signature CloudTec® technology. The concept was simple but distinctive: cushioning elements compress on landing and provide a responsive sensation as the runner pushes off.
Bernhard shared his prototype with friends Caspar Coppetti and David Allemann. They recognized the potential in his idea and decided to build a business around it.
In 2010, the three founders launched On in Switzerland. Rather than trying to create another conventional running shoe, they set out to deliver a different experience for athletes.
The company received early recognition when its running-shoe concept won the ISPO BrandNew Award in 2010. That recognition helped validate the founders’ approach and gave the young brand an early opportunity to establish itself in the competitive running market.
From an Unusual Prototype to CloudTec® Technology
On’s early growth was built around the technology that inspired its creation.
The original garden-hose prototype was an experiment, but the underlying idea became something much more sophisticated. On developed CloudTec® into a cushioning system designed to deliver soft landings and responsive takeoffs.
The technology gave the company a recognizable product identity. Its distinctive outsole design helped On stand apart from established competitors, while its focus on performance gave runners a practical reason to consider the brand.
That combination was important. On was not simply selling shoes with a different appearance. It was building a brand around a specific running experience.
The company continued investing in footwear development, refining its cushioning systems, materials, and designs. Over time, the original concept evolved into a broader product portfolio serving different types of runners and athletes.
How On Built a Premium Sportswear Brand
On entered a market dominated by global companies with decades of brand recognition, extensive distribution networks, and substantial marketing resources.
Instead of trying to compete on every front immediately, On concentrated on performance running and product differentiation. Its Swiss origins, technical design, and premium positioning helped establish a clear identity.
The company also benefited from the growing overlap between performance footwear and everyday fashion. Running shoes increasingly became part of consumers’ daily wardrobes, creating opportunities for brands that combined athletic functionality with distinctive design.
On's products appealed to both dedicated runners and consumers looking for premium sneakers. This broader appeal helped the company expand beyond its original audience without abandoning its performance-focused roots.
As the brand grew, it expanded its retail presence and developed a direct-to-consumer business alongside wholesale partnerships. That approach gave On more ways to reach customers while maintaining control over how its products were presented.
Roger Federer Became More Than an Endorser
One of On’s most important partnerships came in 2019, when tennis legend Roger Federer joined the company as an entrepreneur and co-owner.
Federer’s involvement went beyond a conventional athlete endorsement. He worked with On on product development and helped bring the brand into tennis and lifestyle footwear.
The partnership produced THE ROGER collection, a range of tennis-inspired shoes developed with Federer. It gave On an opportunity to apply its product philosophy to a different sport while introducing the brand to Federer’s global audience.
The collaboration also reflected a broader approach to athlete partnerships. Rather than treating athletes solely as advertising figures, On could involve them in product design and innovation.
Federer’s participation helped strengthen the company’s credibility beyond running and demonstrated how a partnership with the right athlete could support both product development and brand awareness.
How On Expanded Beyond Running
Running remained the foundation of On, but the company gradually expanded into other categories.
The brand introduced performance apparel and accessories, while its footwear range grew to include products for tennis, training, and everyday wear.
This expansion created opportunities to reach customers who might not initially have discovered On through running. It also allowed the company to build a broader relationship with consumers who wanted products for different activities.
On’s strategy was not simply to add more products. The company continued to connect its expansion to performance, design, and innovation.
That approach became particularly important as On moved into new sports. Its existing reputation for technical footwear gave it a foundation from which to introduce products to new audiences.
On Goes Public
On reached a major milestone in September 2021 when On Holding completed its initial public offering on the New York Stock Exchange under the ticker symbol ONON.
The company priced its shares at $24 each, giving investors an opportunity to participate in its continued growth. The IPO marked a significant transition from a Swiss startup into a publicly traded global sportswear business.
Going public also gave On greater visibility in financial markets and access to capital that could support its international expansion, product development, and retail operations.
The listing represented a major achievement for the founders. A business that began with an experimental running-shoe prototype had become a company competing in the same global market as established sportswear leaders.
On’s valuation has changed since its IPO, reflecting movements in its share price and investor expectations. Rather than treating a single historical valuation as its current worth, the company’s public-market value should be assessed using its latest share price and outstanding shares.
How Kylian Mbappé and Thierry Henry Fit Into On’s Growth Strategy
On’s expansion into football represents another step in its effort to become a broader performance-sports brand.
The company has worked with French football stars Kylian Mbappé and Thierry Henry as it develops its presence in the sport. Their involvement brings elite-level experience and international visibility to a category that offers significant opportunities for growth.
For On, football is more than a marketing opportunity. Entering the sport requires products designed around the specific demands of football players, alongside the credibility needed to compete in an established market.
Working with prominent athletes gives the company access to expertise that can help inform product development and its approach to the sport.
The partnership also introduces On to audiences who may know the athletes far better than they know the brand. That creates an opportunity to build awareness beyond the running and tennis communities.
However, athlete partnerships should not automatically be interpreted as equity investments. While Federer’s role as an entrepreneur and co-owner is established, claims about the precise ownership arrangements of other athletes require separate confirmation.
What Made On’s Business Model Work?
On’s growth was built on several connected strengths: product differentiation, premium positioning, athlete partnerships, and an expanding distribution network.
CloudTec® gave the company a distinctive technology around which to build its products and brand identity. Its premium positioning helped it compete through design and performance rather than relying entirely on lower prices.
The company’s athlete relationships also supported its strategy. Collaborations with figures such as Federer helped bring professional expertise into product development while introducing On to new audiences.
Meanwhile, the combination of wholesale and direct-to-consumer sales allowed the company to expand its reach. Wholesale partnerships provided access to established retailers, while direct sales gave On greater control over the customer experience.
These elements reinforced one another. Product innovation gave consumers a reason to try On, brand awareness helped attract new customers, and a broader product range created opportunities to serve them beyond running.
On Running Today
On has grown far beyond its beginnings as a small Swiss footwear startup. It is now a publicly traded sportswear company with an international presence and products spanning footwear, apparel, and accessories.
Its financial performance reflects that transformation. For the full year 2025, On reported net sales of CHF 3.014 billion, representing 30% growth compared with 2024. Footwear remained the company’s largest category, while apparel and accessories also contributed to its expansion.
The company continues to invest in product innovation, international distribution, and new sports. Its football ambitions demonstrate that it sees opportunities beyond its original running audience, while its existing footwear and apparel businesses remain central to its growth.
On’s position in the market is a considerable distance from where it started in 2010. What began as an athlete’s attempt to rethink the running shoe has become a global business competing with some of the largest names in sportswear.
Its challenge now is to sustain that growth while preserving the product quality, innovation, and distinctive identity that helped it stand out in the first place.
Frequently Asked Questions
1. Who founded On Running?
On was founded in Switzerland in 2010 by Olivier Bernhard, Caspar Coppetti, and David Allemann. Bernhard developed the original running-shoe concept, while Coppetti and Allemann joined him in building the business.
2. How did Olivier Bernhard come up with the idea for On?
Bernhard wanted to create a running shoe that combined soft landings with powerful takeoffs. He experimented with pieces of garden hose attached to a shoe outsole, developing the early concept that eventually led to On’s CloudTec® technology.
3. When was On founded?
On was founded in 2010. The company began with a focus on performance running shoes and gradually expanded into a broader sportswear business.
4. What is CloudTec®?
CloudTec® is On’s signature cushioning technology. It is designed to provide cushioning during landing while delivering a responsive sensation during takeoff. The technology became a defining feature of the brand’s running shoes.
5. When did On go public?
On Holding completed its initial public offering on the New York Stock Exchange in September 2021. Its shares trade under the ticker symbol ONON.
6. Is On expanding beyond running?
Yes. On has expanded into tennis, apparel, accessories, and football. Its work with athletes such as Roger Federer, Kylian Mbappé, and Thierry Henry reflects its ambitions to grow beyond its original running-shoe business.
Conclusion
Olivier Bernhard’s journey with On began with a simple ambition: create a better running experience. His early garden-hose prototype was unconventional, but it helped inspire the technology that would become the foundation of a global sportswear brand.
Together with Caspar Coppetti and David Allemann, Bernhard turned that idea into a business built around product innovation, performance, and distinctive design. CloudTec® helped On establish its identity, while its premium positioning and athlete partnerships supported its expansion into new markets.
Roger Federer’s involvement marked an important step beyond traditional endorsements, bringing product collaboration and tennis credibility to the brand. On’s public listing in 2021 and its expansion into apparel, accessories, and football have since demonstrated how far the company has moved beyond its original focus.
The story of On is ultimately about turning a specific product insight into a lasting business. The founders did not need to invent an entirely new sport or convince consumers to care about running. They needed to create a shoe that offered a different experience, build a brand around that difference, and keep innovating as the company grew.
From a garden-hose prototype to a publicly traded sportswear company, On’s journey shows how a focused idea can become the starting point for a much bigger business.
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