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The Roger Federer backed Swiss shoe manufacturer On AG has seen a spurt in sales during the lockdown period.
On AG was established in 2010 by professional ironman athlete Oliver Bernhard along with two of his friends - David Allemann and Caspar Coppetti. The trio started On AG with a vision to design a training shoe that would offer runners the best of both worlds – a soft landing and firm toe-off. This led to the patented CloudTec technology.
Roger Federer invested in the company last year and became a representative of the brand. Federer's role wasn't just restricted to being an investor cum ambassador though; he also offered the company insights on product development and marketing.
Sales of On AG have almost tripled during the lockdown period
The lockdown enforced by the COVID-19 outbreak has seen the brand almost triple its sales in the months from March through May, as customers wary of entering gyms seem to prefer running outdoors. In an interview with Bloomberg, Chief Executive Officer David Allemann said that he expects demand to sustain in the short-term given that brick-and-mortar stores will gradually resume full-fledged operations.
Allemann is also optimistic that the first flagship store at Manhattan’s Lafayette Street will be inaugurated as scheduled later this year.
Asked about the impact that the lockdown has had on sales, Allemann said:
“The whole lockdown has been transformational for our consumers and our industry. The outdoor-running boom is really going to support our brand momentum.”
Roger Federer endorsed On AG one of the fastest growing sneaker brands in the world
Since the formation of the company in 2010, the Zurich based On AG has been steadily gaining market share. It is ranked No. 6 in the USA running shoes market with a 6.6% market share, according to researcher NPD.
Speaking on the astounding success of the brand in a terribly competitive space dominated by the likes of Nike, Adidas and Under Armour, Allemann said - "On is the fastest-growing running brand worldwide, and is in ‘the top five running shoe’ in all the markets.”
The fortunes of On AG may further seek an uptick in the days to come with the launch of the "The Roger" line of sneakers. Roger Federer launched the "The Roger: Centre Court 0-Series" sneaker line today, on the 17th anniversary of his first Grand Slam triumph.
It remains to be seen whether Roger Federer will make the switch from Nike to On AG when he returns to on-court action next year.
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