×
70 656
Fashion Jobs
BLOOMINGDALE'S
Asset Protection Outlet Associate, Part Time - Outlets at Orange
Permanent · Orange
BLOOMINGDALE'S
Outlet Keyholder Selling, Full Time - Riverhead
Permanent · Riverhead
MACY'S
Asset Protection Detective, Temecula Promenade - Part Time
Permanent · Temecula
MACY'S
Asset Protection Detective, Annapolis - Part Time
Permanent · Annapolis
MACY'S
Asset Protection Detective, Herald Square - Full Time
Permanent · New York
MACY'S
Asset Protection Detective, San Francisco Union Square - Full Time
Permanent · San Francisco
MACY'S
Asset Protection Detective, Topanga - Part Time
Permanent · Los Angeles
MACY'S
Asset Protection Detective, Livingston - Part Time
Permanent · Livingston
MACY'S
Asset Protection Officer, Secaucus D2C fj - Full Time (2840)
Permanent · Secaucus
MACY'S
Asset Protection Detective, South Park - Full Time
Permanent · Colonial Heights
MACY'S
Asset Protection Detective, Springfield - Full Time
Permanent · Springfield
MACY'S
Asset Protection Detective, Smith Haven - Part Time
Permanent · Lake Grove
MACY'S
Asset Protection Security Guard, Green Acres - Part Time
Permanent · Valley Stream
SALLY BEAUTY CORPORATE
Outside Sales Representative - Cosmoprof
Permanent · Sudbury
ROSS STORES
District Manager
Permanent · Waukesha
ROSS STORES
Store Protection Specialist
Permanent · Saratoga Springs
ROSS STORES
Lead, Corporate Security & Fire/Life Safety
Permanent · Dublin
ROSS STORES
Store Protection Specialist
Permanent · Clemmons
ROSS STORES
Store Protection Specialist
Permanent · Fontana
ROSS STORES
Store Protection Specialist
Permanent · Nashville
ROSS STORES
Store Protection Specialist
Permanent · Pico Rivera
ROSS STORES
Store Protection Specialist
Permanent · Charleston
By
Reuters
Published
Sep 8, 2021
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Federer-backed shoe firm On targets $6bn+ valuation in IPO

By
Reuters
Published
Sep 8, 2021

On Holding AG, the shoemaker backed by Swiss tennis star Roger Federer, is eyeing a valuation of more than $6 billion in a US initial public offering (IPO).


On Holding



The IPO comes at a time when athletic products, especially shoes, have been flying off the shelves at most retailers as a mixture of the ongoing athleisure trend and Covid-induced gym closures pushed more people to take up running to keep themselves fit.

On was founded in 2010 by running enthusiasts Olivier Bernhard, David Allemann and Caspar Coppetti, with Federer investing an undisclosed sum in the company in 2019.

The 20-times Grand Slam winner teamed up with the company earlier this year to develop the Roger Pro tennis shoe.

On also makes a 100% recyclable brand of running shoes, called Cyclon, made from castor beans. The shoes are available only on a subscription basis and have to be returned to the company for new ones once they wear out.

The company, which is aiming to raise $622 million in the IPO, counts North America as its largest market, accounting for nearly 49% of its total sales, followed closely by Europe.

Reuters reported in April that the shoemaker was targeting a listing in the autumn that could fetch it a valuation of between $4 billion and $6 billion.

On's existing shareholders are offering around 5.66 million shares in the IPO. The company will not get any proceeds from the sale of those shares.

It plans to list on the New York Stock Exchange under the symbol ONON.

© Thomson Reuters 2022 All rights reserved.