Tiny Swiss Sneaker Brand Has Federer Backing and Big Ambitions
Tim Loh and Corinne Gretler, Bloomberg News Roger Federer wears On sneakers during Wimbledon. The tennis great is also an investor in the Swiss company. Photographer: Clive Brunskill/Getty Images , Photographer: Clive Brunskill/Getty Images
(Bloomberg) Peter Rea signed a sponsorship deal with Swiss sports brand On AG in 2018, after more than a decade coaching runners in Reebok sneakers.
âPeople were like, âWait, whoâs On?ââ recalled Rea, who trains the ZAP Endurance elite team in North Carolinaâs Appalachian mountains. Since the switch, members of his band of Olympic hopefuls have come to embrace the unique look and feel of Onâs shoes. âNow, no one asks who they are,â Rea said.
Joe Klecker comes from a running family. His mom won the 1992 Olympic Marathon Trials and his dad set the 50 mile world best. Can he continue the family tradition at the Trials?
The Countdown to the Trials is Here Sponsored by On
by LetsRun.com (Sponsored by On)
May 5, 2021
It is time to officially begin the Countdown to the Olympic Trials and the Tokyo Olympics.
44 days from today the Trials kick off in Eugene, Oregon and 95 days from today the Olympics will come to an end.
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And if you’re looking for an up and coming group to root for, we’ve got you covered, as
On is sponsoring our Countdown to the Trials, and we’re going to be profiling some of the On athletes competing at the Trials and in Tokyo.
2 Min Read
ZURICH (Reuters) - Shoe firm ON Running, backed by Swiss tennis star Roger Federer, is preparing for a U.S. stock market listing as early as this autumn in a deal valuing the firm at about $5 billion, people close to the matter said.
Running-shoe makers have seen sales spike in the COVID-19 pandemic as people turn to running, with gyms closed and team sport activities banned.
The company is working with JP Morgan, Goldman Sachs and Morgan Stanley on the initial public offering with Credit Suisse and other banks in further roles, they said. ON is expected to officially announce the IPO in September or October, which could value the company at $4 billion-$6 billion.
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