On Holding AG

On Holding AG is a sportswear company that designs, engineers, and markets athletic footwear, apparel, and accessories. Operating as a single reportable business segment, the company offers performance and lifestyle products tailored for running, outdoor activities, training, and tennis, alongside an all-day collection. Its product portfolio integrates proprietary cushioning and construction innovations such as CloudTec, CloudTec Phase, Helion superfoam, Speedboard, and LightSpray. On serves elite athletes, runners, and everyday active consumers across global markets through two core routes: wholesale arrangements with specialty running, outdoor, general sporting goods, and fashion retailers, and direct-to-consumer operations via its digital platform and brand-owned physical retail locations.

The company maintains its corporate headquarters, research, and innovation laboratories in Zurich, Switzerland. On distributes its offerings across more than 90 countries throughout the Americas, EMEA, and Asia-Pacific. As of December 31, 2025, the company operates 67 retail locations worldwide, comprising 14 stores in the Americas, 10 in Europe, 5 in Asia-Pacific excluding China, and 38 locations across China including Hong Kong. Its physical infrastructure also includes regional offices in key international cities and major automated distribution warehouses in the United States and Belgium.

Summary of the business section of On's latest annual report, written by StockData.