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

Published 05/01/2021, 5:56 AM EDT
Roger Federer of Switzerland gestures to the spectators before hitting signed tennis balls into the stands during day two of the 2019 Hopman Cup at RAC Arena in Perth, Australia. (Photo by Paul Kane/Getty Images)


Roger Federer has led the charge of sneaker brand ‘On’ towards the top of the 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.

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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.

Roger Federer of Switzerland in action. (Photo by Fred Lee/Getty Images)

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.

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Roger Federer in action during his first-round match against Great Britain’s Dan Evans. Tennis Federation/Samer Al-Rejjal/Handout via REUTERS

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.

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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.

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Bhavishya Mittal

951 articles

Bhavishya Mittal is a tennis author for EssentiallySports, who is currently pursuing his Bachelor's degree in Journalism from Manipal University. A former sports editor for The Manipal Journal, Bhavishya has also worked for The New Indian Express. He has a keen eye for many sports but he is a particularly ardent follower of tennis, with a zest to create riveting articles on the ever-evolving sport.

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