Latest news with #MartinHoffmann
Vogue Singapore
2 days ago
- Business
- Vogue Singapore
'Our mission is to ignite the human spirit through movement": On CEO Martin Hoffmann on the brand's flagship store opening
Founded in the Swiss Alps, ever since its inception in 2010, On has been a key player with its distinct performance technology—pushing the boundaries of innovation in sportswear and rethinking what performance truly means. Its latest venture brings the brand's signature 'Dream On' retail experience to Singapore's Jewel Changi Airport, marking its first flagship in Southeast Asia with a sleek, two-storey space. At the helm of this innovative sportswear brand is Martin Hoffmann, CEO and CFO of On, who we had a chance to sit down with prior to the store's grand opening. The newly opened On flagship at Jewel Changi marks the Swiss sportswear brand's first step into Southeast Asia. Courtesy of On 'Southeast Asia wasn't our initial priority,' Hoffmann shares. 'But we've seen an incredible surge in demand across the region, and this store is just the beginning of our journey here.' He adds that a location in Bangkok is next on the roadmap, with a test store already up and running in Jakarta. Upon stepping into the store, visitors are immediately greeted by the fresh tonal grey interior—a space that feels both immersive and calming, designed to allow ease of movement. And speaking of movement, the store's signature Magic Wall slides open easily, allowing visitors to access footwear for quick try-ons—aligning with the brand's focus on an easy and comfortable retail experience. Sliding open effortlessly, the Magic Wall invites visitors to explore footwear with ease and comfort. Courtesy of On As for the footwear itself, the designs are thoughtfully segmented into different categories: performance zones for runners and athletes, and lifestyle zones for everyday use or light activity. One standout moment is the newly launched Zendaya capsule collection—a comprehensive line of training gear that includes apparel, footwear, and accessories. Founded by a former professional triathlete and a designer with roots in architecture, On lives at the intersection of performance and precision. Their signature silhouette—with signature CloudTec soles punctuated by holes—redefine what performance gear can feel like. And while their roots lie in running, the product universe has expanded into trail, tennis, training, and lifestyle—each infused with the brand's ethos: performance first, and lifestyle second. The store's performance and lifestyle zones showcase On's signature CloudTec soles in versatile designs. Courtesy of On Jewel's location pick was also intentional. With its lush indoor waterfall and global foot traffic, the mall mirrors the Swiss brand's own values: innovative design and accessibility for its users. 'It felt like the perfect spot,' Hoffmann notes. 'The environment reflects our design values,' Hoffmann shares. 'And because it's at the airport, we see a lot of tourist footfall—which is a huge driver for retail.' But beyond the store's sleek façade lies a deeper strategy: bringing the full On brand experience directly to consumers. That includes not just product, but also local run clubs, collaborations, and community activation. 'Our mission is to ignite the human spirit through movement,' he shares. 'Whether that's a fast run, a slow jog, or just a walk—there's a product for everyone.' 'The design isn't just about how it looks—functionality comes first, the look comes second' And when it comes to sustainability, the sportswear brand already has a few initiatives in place. On's Cyclon program—a circular, subscription-based shoe initiative—is one of the brand's most ambitious environmentally-friendly ventures. Customers return their used shoes, made from a single recyclable material, to be remade into new ones.'It's a fully circular product,' Hoffmann explains. 'It's designed to be returned, disassembled, and then re-used.' While the program isn't available in Singapore yet, its ethos represents On's larger goal: to make sustainability actionable. As for the sneaker space itself, which often skews status-heavy, On is staying grounded. 'We're very aware of the tension between performance and hype,' Hoffmann says. 'But for us, success is measured by how many people are actually using our products in real life. Not just how they look on Instagram.' Collaborations like Loewe x On have also brought design-world prestige, but the heart of the brand still lies in Zurich, where scientists, engineers, and creatives work in tandem to create products that place performance as their priority. Inspired by the spirit of movement—a tonal grey palette and sleek interiors create a purposeful space where design meets function. Courtesy of On Still, that doesn't mean compromising on visual appeal. 'The design isn't just about how it looks—functionality comes first, the look comes second,' Hoffmann explains. 'The most comfortable chair can also be the most beautiful one. It's not either-or—it's both.' That belief underscores everything On creates: gear that's engineered for action, but designed to turn heads too. With Southeast Asia's climate in mind, localised products are also in the pipeline: breathable silhouettes, easy slip-ons like the Coast, and apparel tailored for the region's lifestyle. 'Southeast Asia's quite humid, it's quite hot in the summer months—maybe you don't always want to wear sneakers,' Hoffmann explains. 'We have a slip-on sneaker called the Coast, and offering products that suit Southeast Asia's lifestyle is important to us. It'll be the same with apparel as well.' Hoffmann explains. And really, that's the heartbeat of On: designed to move with the wearer—regardless of the weather, activity and wherever the road (or trail) leads.
Yahoo
09-06-2025
- Business
- Yahoo
On Holding AG (ONON): A Bull Case Theory
We came across a bullish thesis on On Holding AG (ONON) on Quality Stocks' Substack. In this article, we will summarize the bulls' thesis on ONON. On Holding AG (ONON)'s share was trading at $58.53 as of 3rd June. ONON's trailing and forward P/E were 76.41 and 55.25 respectively according to Yahoo Finance. A professional football team running onto the field, in an iconic stadium of the company. On Holding has consolidated its leadership under a single-CEO structure, with Co-CEO and CFO Martin Hoffmann assuming the role of sole Chief Executive Officer as of April 1st. This transition comes amid a period of exceptional growth for the company, which continues to outperform its broader footwear market. Posting a 43% year-over-year revenue increase to $727 million—far exceeding analyst expectations of $680 million—On demonstrated strong execution across both Direct-to-Consumer and wholesale channels, which grew 45% and 41%, respectively. This favorable channel mix, with a tilt toward higher-margin DTC sales, contributed to gross margins expanding to 60%, reinforcing On's premium brand positioning. The company subsequently raised full-year guidance, now targeting 28% revenue growth, reflecting continued confidence in its trajectory. Amidst a shifting industry landscape where legacy giants like Nike are losing share, On stands out as a disruptive force with compelling brand momentum. However, this rapid expansion has led to a premium valuation, with shares trading at over 60 times earnings, leaving little room for error and limited downside protection. Despite having nearly doubled since its April low, the stock's elevated multiple suggests that patient investors might consider awaiting a pullback. Going forward, the critical variable to watch is market share: sustained share gains are central to On's thesis, and any signs of stagnation or reversal could materially alter the investment case. For now, On remains a high-growth, high-conviction story, albeit one priced for perfection, and dependent on continued flawless execution to justify its valuation. We previously covered a on ONON written by Sanjiv on Substck. The thesis highlighted its strong DTC-led growth, premium positioning, and rapid global expansion—validated by a 16.1% stock price increase since then and a 28.5% YoY revenue surge and its first year of positive free cash flow. The latest update by Quality Stocks reinforces this momentum, with 43% revenue growth and margin expansion, but cautions that ONON's high valuation (60x earnings) leaves little room for missteps. While the growth story remains intact, new investors may want to await a better entry point. On Holding AG (ONON) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 53 hedge fund portfolios held ONON at the end of the first quarter which was 49 in the previous quarter. While we acknowledge the risk and potential of ONON as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None. This article was originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17-05-2025
- Business
- Yahoo
Swiss running brand On became $3 billion richer in the last week. It's coming for Nike and Adidas next
Sitting in their Zurich headquarters, On's sanguine co-CEO, Martin Hoffmann, and his colleague and On co-founder Caspar Coppetti, have reason to be relaxed. Another quarter of unexpected growth has notched another $3 billion to their brand's value. There is an elephant in the room, however. It's not taking up much room though, given the elephant is a newly-empty seat at the CEO table. Hoffmann will soon take on the role of On's CEO alone when his co-CEO Marc Maurer leaves the company in June. Maurer said he planned to embark on a 'new chapter' in his professional life after more than 14 years at the company. Maurer and Hoffmann both joined On from Swiss food retailer Valora in 2012 and 2013, respectively, as COO and CFO, with Maurer wooing his friend over to what was then a little-known running startup. The pair has operated as co-CEOs since 2021. From July, though, Hoffmann, a financial whizz by trade and by nature, will take the reins of On alone, without Maurer to lean on. 'I had a really strong relationship with Marc and a deep, deep friendship,' Hoffmann told Fortune following the release of On's first-quarter earnings. 'I will miss that, but we have been super close, basically in all parts of the business, together with different focuses. But there are no blind spots, and we are not changing strategy.' Hoffmann, whose priority will shift from his current dual role as CFO, admits he loves numbers as much as he does people. For a company better known for design, innovation, and cool collaborations with Gen Z idols, finance will need to take a backseat. 'The strength of On is not the numbers, it's the team,' said Hoffmann. 'My goal was to enable this team to be at their best. And I don't think this changes. The focus from where I do it will change, but the perspective stays the same.' Hoffmann could hardly take sole charge of On in a better position. On Tuesday, the group reported a 43% surge in revenue in the first quarter of 2025 compared with a year earlier, while it increased its revenue and profitability guidance for the rest of the year. The last quarter marked the second in a row that On beat its revenue expectations. New brand partnerships, including a February Super Bowl advertisement featuring tennis great and On investor, Roger Federer, and Elmo, have helped the company defy short-run expectations within a wider goal of doubling sales between 2023 and 2026. On wrapped up its earnings week by hitting a record valuation of $19.65 billion as investors piled into the running brand in the wake of the surprise results, having started the week valued at around $16 billion. On is now the third most valuable publicly traded footwear brand in the world behind Nike and Adidas. The group's surge has come as those legacy sportswear companies have regressed. Shares in Nike have plunged more than 15% since the start of the year, while Adidas shares have fallen more than 8%. On, meanwhile, has risen in value by 8% this year. With a current running shoe market share of around 10%, the company's leadership is laser-focused on driving this even higher. 'Our long-term vision is to be the number one brand in running,' Coppetti told Fortune. Getting to the mantle of the number one running brand certainly looks a lot more realistic now than when its co-founders first started experimenting with strapping hose pipes to the bottom of traditional running shoes. It is, however, a different path from the one that brought On to this point. On evolved as a challenger brand largely through word-of-mouth marketing and an opportunistic boom in running among younger people, whose higher disposable income, social media awareness, and newfound focus on fitness have proved a goldmine for the athletic brand. 'I think we're benefiting from this health and wellness trend where younger adults… they're going to the gym rather than going to the bar,' said Coppetti. The group's successful partnership with Zendaya hasn't hurt its appeal with young customers either. 'We're quite obsessed,' Coppetti says about continuing to enhance On's brand recognition. The company has been forensic in transitioning from an online model to erecting physical stores, considering exactly where to place each of its 53 stores, right down to the street corner, to maintain its exclusivity while growing. 'We don't want to overshoot, and that allows us to, for example, be very selective with retail partners we want to work with, or which stores we want to be in, which street, which corner of that street we want to have our store on and it all feeds into this premium positioning,' says Coppetti. On's two London stores exemplify that strategy, with one located on the exclusive Regent's Street, and the other in the trendy east-side shopping zone of Spitalfields. Coppetti notes some 200 people take part in a run club from that store regularly. You can be pretty confident that an On rep will make an undercover appearance at other run clubs, too. 'We actually go out and we go to the major running routes in the big cities, and we go and count people, and we see what products they are wearing, both footwear and apparel,' Coppetti said. The company does the same at running events. On gets more cut through among short distance runners, up to half marathon distances. It's hoping to grab more marathon runners when it launches its 'super shoes' later this year. There will be other challenges along the way. Still a nascent brand, On hasn't yet proved it can ride out demand dips and move beyond fears that it is a 'fad' shoe. And despite having operations in the U.S., the Swiss brand is no less exposed to tariffs than its competitors. Still, On is planning price increases this year, unrelated to tariffs, and CEO Hoffmann thinks customers are ready to stay on the ride, however bumpy things get. 'We want to be the most premium global sports brand, and premium is the decisive word here,' Hoffmann says. 'And if you are clear about the North Star, we actually have clear direction in kinds of uncertainties like this.' This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17-05-2025
- Business
- Yahoo
Swiss running brand On became $3 billion richer in the last week. It's coming for Nike and Adidas next
Sitting in their Zurich headquarters, On's sanguine co-CEO, Martin Hoffmann, and his colleague and On co-founder Caspar Coppetti, have reason to be relaxed. Another quarter of unexpected growth has notched another $3 billion to their brand's value. There is an elephant in the room, however. It's not taking up much room though, given the elephant is a newly-empty seat at the CEO table. Hoffmann will soon take on the role of On's CEO alone when his co-CEO Mark Maurer leaves the company in June. Maurer said he planned to embark on a 'new chapter' in his professional life after more than 14 years at the company. Maurer and Hoffmann both joined On from Swiss food retailer Valora in 2012 and 2013, respectively, as COO and CFO, with Maurer wooing his friend over to what was then a little-known running startup. The pair has operated as co-CEOs since 2021. From July, though, Hoffmann, a financial whizz by trade and by nature, will take the reins of On alone, without Maurer to lean on. 'I had a really strong relationship with Mark and a deep, deep friendship,' Hoffmann told Fortune following the release of On's first-quarter earnings. 'I will miss that, but we have been super close, basically in all parts of the business, together with different focuses. But there are no blind spots, and we are not changing strategy.' Hoffmann, whose priority will shift from his current dual role as CFO, admits he loves numbers as much as he does people. For a company better known for design, innovation, and cool collaborations with Gen Z idols, finance will need to take a backseat. 'The strength of On is not the numbers, it's the team,' said Hoffmann. 'My goal was to enable this team to be at their best. And I don't think this changes. The focus from where I do it will change, but the perspective stays the same.' Hoffmann could hardly take sole charge of On in a better position. On Tuesday, the group reported a 43% surge in revenue in the first quarter of 2025 compared with a year earlier, while it increased its revenue and profitability guidance for the rest of the year. The last quarter marked the second in a row that On beat its revenue expectations. New brand partnerships, including a February Super Bowl advertisement featuring tennis great and On investor, Roger Federer, and Elmo, have helped the company defy short-run expectations within a wider goal of doubling sales between 2023 and 2026. On wrapped up its earnings week by hitting a record valuation of $19.65 billion as investors piled into the running brand in the wake of the surprise results, having started the week valued at around $16 billion. On is now the third most valuable publicly traded footwear brand in the world behind Nike and Adidas. The group's surge has come as those legacy sportswear companies have regressed. Shares in Nike have plunged more than 15% since the start of the year, while Adidas shares have fallen more than 8%. On, meanwhile, has risen in value by 8% this year. With a current running shoe market share of around 10%, the company's leadership is laser-focused on driving this even higher. 'Our long-term vision is to be the number one brand in running,' Coppetti told Fortune. Getting to the mantle of the number one running brand certainly looks a lot more realistic now than when its co-founders first started experimenting with strapping hose pipes to the bottom of traditional running shoes. It is, however, a different path from the one that brought On to this point. On evolved as a challenger brand largely through word-of-mouth marketing and an opportunistic boom in running among younger people, whose higher disposable income, social media awareness, and newfound focus on fitness have proved a goldmine for the athletic brand. 'I think we're benefiting from this health and wellness trend where younger adults… they're going to the gym rather than going to the bar,' said Coppetti. The group's successful partnership with Zendaya hasn't hurt its appeal with young customers either. 'We're quite obsessed,' Coppetti says about continuing to enhance On's brand recognition. The company has been forensic in transitioning from an online model to erecting physical stores, considering exactly where to place each of its 53 stores, right down to the street corner, to maintain its exclusivity while growing. 'We don't want to overshoot, and that allows us to, for example, be very selective with retail partners we want to work with, or which stores we want to be in, which street, which corner of that street we want to have our store on and it all feeds into this premium positioning,' says Coppetti. On's two London stores exemplify that strategy, with one located on the exclusive Regent's Street, and the other in the trendy east-side shopping zone of Spitalfields. Coppetti notes some 200 people take part in a run club from that store regularly. You can be pretty confident that an On rep will make an undercover appearance at other run clubs, too. 'We actually go out and we go to the major running routes in the big cities, and we go and count people, and we see what products they are wearing, both footwear and apparel,' Coppetti said. The company does the same at running events. On gets more cut through among short distance runners, up to half marathon distances. It's hoping to grab more marathon runners when it launches its 'super shoes' later this year. There will be other challenges along the way. Still a nascent brand, On hasn't yet proved it can ride out demand dips and move beyond fears that it is a 'fad' shoe. And despite having operations in the U.S., the Swiss brand is no less exposed to tariffs than its competitors. Still, On is planning price increases this year, unrelated to tariffs, and CEO Hoffmann customers are ready to stay on the ride, however bumpy things get. 'We want to be the most premium global sports brand, and premium is the decisive word here,' Hoffmann says. 'And if you are clear about the North Star, we actually have clear direction in kinds of uncertainties like this.' This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
14-05-2025
- Business
- Business Insider
On Holding CEO: Our DTC channel has grown stronger than wholesale
In an interview on CNBC's Mad Money, Martin Hoffmann said the On brand is in a 'really strong position.' 'We have done a lot of work to earn pricing power and we will use it,' he noted. According to Hoffmann, the company had its strongest month ever in April, despite the macro uncertainty. Protect Your Portfolio Against Market Uncertainty Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
