Federer-Backed Shoemaker On Plans Zurich Flagship Store

(Bloomberg) -- Swiss running-shoe maker On Holding AG, which recently listed shares in New York, plans to open a flagship store in its hometown of Zurich.

Swiss newspaper Finanz und Wirtschaft reported the company, backed by tennis legend Roger Federer, will open a retail location at its headquarters in Zurich West next year, citing co-Chief Executive Officer Martin Hoffmann.

 “We are constantly opening new On stores, in the coming year there should be four in major cities in Europe and the U.S.A.,” Hoffmann said.

On has become one of the world’s fastest-growing running-shoe brands since its founding a decade ago and got a boost from the pandemic thanks to a lockdown-inspired boom in running. It already has a flagship store in New York.

The company, which makes shoes known for their distinctive tubular cushions on the sole, raised $746 million in an initial public offering in New York in September.

The sneakers have garnered avid followers. Federer became a shareholder in 2019, and the company has unveiled a shoe he helped design which sells for about $200. 

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