As Adidas and Nike continue to duke it out over who may win over the consumer during the World Cup tournament this summer, the two powerhouse brands may have another competitor in the mix soon.
In a new Bloomberg story, On cofounder Olivier Bernhard reportedly confirmed the move into the football sector, saying that the company is “absolutely” interested in the move.
But a representative for On stopped short of confirming the news. In a statement sent to FN, the rep said that the Swiss company is “operating from a position of strength, with significant growth opportunities across its existing business.”
“We continue to see strong potential in our core categories and markets, while also evaluating opportunities in new sports, including major spectator sports such as football and others,” the spokesperson stated. “We will share further details when there are concrete decisions to announce.”
If this category were to come to fruition, it wouldn’t be the first time the running-focused brand jumped into making shoes for a new sport. In 2020, the company launched its first tennis-inspired sneaker, The Roger, with Roger Federer as a partner.
And earlier this month, the company noted it was getting into Hyrox, the rapidly growing sport of hybrid fitness racing, with the debut of the Cloud X Tempo Pro sneaker. Built to handle race-day intensity, the final production model of the Cloud X Tempo Pro aims to deliver “proven pace and power across every station and running stride,” the company said.
Along with the shoe, On also announced the signing of athletes Alexander Roncevic and Ida Mathilde Steensgaard in the competitive fitness racing space of Hyrox.
In its most recent earnings period ended March 31, On reported its net income increased 82.2 percent to 103.3 million Swiss francs from 56.7 million Swiss francs in the prior-year period, while adjusted profits advanced 75.3 percent to 123.6 million Swiss francs. Sales increased 14.5 percent sales gain to 831.9 million Swiss francs. This marks the first time On has exceeded 800 million Swiss francs in quarterly sales.
