Swiss sporting shoe and clothing retailer On Holding AG is aiming to surpass a 6 billion dollar IPO.
The Zurich-based company, which began producing trainers for running with cloud technology, was founded in 2010 and is part financed by tennis star Roger Federer. The basic concept of its shoe is a cushioned landing and firm take-off, using the latest innovation in Swiss engineering.
In addition to footwear, the company also operates a subscription model and sees 49 percent of its turnover is generated from the US market. In recent years the company launched athletic wear, socks and an urban sneaker.
The IPO, which was filed in August, aims to value the business at over 6 billion dollars.
Founded by professional athletes Olivier Bernhard, David Allemann and Caspar Coppetti, On Running shoes have a unique cushioned sole, winning an ISPO Gold Award for the Best Performance Shoe 2015/16.