Roger Federer’s Sneaker Brand ‘On’ Turning Public, Looking at a $5 Billion Valuation

Roger Federer has led the charge of sneaker brand ‘On’ towards the top pile of the footwear market. Ever since his multi-million dollar investment, ‘On’ as a brand has seen its valuation grow splendidly. Now the company is planning for its Initial Public Offering(IPO) and could see its valuation double.

According to Reuters, the Swiss sneaker brand backed by Roger Federer is looking for a US stock market listing this autumn. Several international banks are interested in the IPO, and the brand is in talks to finalize everything in the coming months. The IPO will value ‘On’ at around $5 billion. On’s current valuation stands close to $2 billion.

The past year has been highly successful for On. As the pandemic restrictions eased across the globe, demand for running shoes rose. Expertise in running shoes and with the face of Federer, On saw its sales increase by over 200 percent. This increase has prompted an early effort from the brand to turn public.

Roger Federer working closely with ‘On’

Federer had invested in the brand back in 2019. And since then it has captured a 1.6 percent market share in a tightly dominated environment by giants such as Nike and Adidas.

Since acquiring a stake in the brand, Federer has worked closely with the brand to make tennis-inspired shoes. There are three shoes on sale under the name of ‘The Roger’.

“The minimalist design and easy comfort of On’s shoes had me hooked years ago. I wanted to infuse the tennis sneaker with the same lightness, comfort, and agility for everyday,” Federer said.

Federer wore ‘On’ shoes on his comeback in ATP Doha

Federer made headlines after he wore the ‘On‘ tennis sneakers on his comeback. He made his much-anticipated tennis comeback in ATP Doha in early March.

He played his first tennis match in 14 months, however, he dazzled with shoes from ‘On’. Since departing from Nike, Federer had used the American brand’s shoes since his sponsors, Uniqlo doesn’t make shoes. But now, as ‘On’ increased their tennis expertise, Federer was confident enough to wear them.

Read More: Rafael Nadal Includes Dominic Thiem and Roger Federer in His Friends List on ATP Tour

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