On Holding, a Swiss running shoe and athletic apparel brand, filed on Monday with the SEC to raise up to $100 million.
On believes it is one of the fastest-growing scaled athletic sports companies in the world, having grown its net sales at an 85% CAGR from inception through 2020. The company has built a global customer base across more than 60 countries, including Germany, the US, Japan, China, and Brazil. It has a selective wholesale presence in approximately 8,100 retail doors globally, and it also operates in the direct-to-consumer channel.
The Zürich, Switzerland-based company was founded in 2010 and booked $616 million in sales for the 12 months ended June 30, 2021. It plans to list on the NYSE under the symbol ONON. On Holding filed confidentially on June 4, 2021. Goldman Sachs, Morgan Stanley, J.P. Morgan, Allen & Company, UBS Investment Bank, and Credit Suisse are the joint bookrunners on the deal. No pricing terms were disclosed.
