Zurich — For Swiss running shoemaker On, whose proprietary cushioning technology has attracted Roger Federer as an investor, the global coronavirus lockdowns had positive side effects.
“The whole lockdown has been transformational for our consumers and our industry,” Allemann said in an interview. “This outdoor running boom is really going to support our brand momentum.” On’s shoes have hollow tube-like attachments made of rubber or foam on the outsoles that promise runners a soft landing, while locking firm when taking off — a patented technology called Cloudtec the company invented.
The Swiss label has become one of the world’s fastest-growing running shoe brands since it was founded a decade ago. The privately held company doesn’t disclose ownership or financial details. It’s ranked number six the US running shoe category, with a 6.6% market share, vs 26% for Brooks, the largest brand in the $475m market, according to researcher NPD.
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