On Holding AG: directors' dealings · United States · SEC (Form 4)

About On Holding AG

On Holding AG (NYSE: ONON) is a Swiss premium sportswear company listed in the United States on the NYSE/NASDAQ market, with its headquarters in Zurich, Switzerland. Founded in 2010, the company initially built its reputation in running shoes by combining performance engineering, a distinctive product aesthetic, and premium brand positioning. Over time, On has evolved from a niche running specialist into a broader global performance-lifestyle brand, while still keeping footwear at the center of its identity. The company’s core business is performance footwear, especially running shoes, supported by apparel and accessories. That mix matters strategically: footwear remains the main growth engine, while apparel and accessories help deepen the consumer ecosystem and extend the brand beyond a single product line. On sells through both wholesale partners and a direct-to-consumer (DTC) channel. The DTC channel is particularly important for brand control, consumer engagement, and margin expansion, while wholesale helps broaden reach and build awareness across key markets. Geographically, On is an international company with sales across Europe, the United States, and the rest of the world. Its brand is most established in premium athletic categories in Western markets, where consumers are willing to pay for innovation, design, and performance credibility. In competitive terms, On sits between the large global sportswear giants and more specialized running brands. Its differentiation comes from product innovation, a premium visual identity, and a strong brand narrative around movement, health, and performance. The company also highlights proprietary technologies such as LightSpray™, which supports its innovation story and reinforces the perception of technical leadership. Recent developments underscore the strength of the business. In its 2025 disclosures, On reported that annual revenue surpassed CHF 3 billion and that profitability improved materially. In early 2026, the company reiterated a positive outlook, including expectations for at least 23% constant-currency net sales growth and continued elevated margins, even while acknowledging tariff-related headwinds. The company also indicated further improvements in gross margin and EBITDA margin in its first-quarter 2026 update, signaling sustained operating leverage as it scales. In addition, recent SEC Form 4 filings have shown insider transactions, including sales executed under a pre-arranged Rule 10b5-1 plan, which the market typically reads as more procedural than sentiment-driven. For French, Belgian, and Swiss investors, On Holding AG stands out as a high-growth international consumer brand with a premium positioning, expanding global distribution, and a still-developing but increasingly powerful competitive moat in athletic footwear and sportswear.