Caspar Coppetti founded On in Switzerland with a curious perspective—he sees the world 'feet up.' His background in scouting sneakers while traveling and noticing his future wife's Ons shaped the brand's focus on comfort and design. Since going public five years ago, On has grown to over $3.5 billion in annual sales, becoming ubiquitous in running, office, and school settings. The brand's hollow pod soles provide unique comfort while maintaining premium positioning.
After reporting its slowest quarterly revenue growth and a 20% stock drop, Coppetti addressed investor concerns about whether On is 'just a growth story or is there more to it?' The company responded by signing Kylian Mbappé and unveiling the On Premium Playbook—a strategy to grow without compromising luxury pricing. With average prices at $170, On educates consumers not to expect sales, capitalizing on Nike and Adidas' retail retreat to dominate premium footwear markets.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing