Count on_running as the latest brand to jump into the hot public market.
Footwear still represents 95 percent of total sales for the brand, but the company believes there is opportunity in the performance sportswear end of the $174 billion sports apparel market as well.
On was founded 11 years ago by former professional triathlete Olivier Bernhard, who approached his friends Allemann and Caspar Coppetti about reengineering a running shoe to create a different sort of running sensation. The concept he was seeking was a cushioned landing and explosive take-off, or what they describe as “running on clouds.” Since that time, the brand, which is the top-selling running shoe brand in Switzerland, has also gained a foothold in the lifestyle market in the U.S.
Today, the brand is carried in about 8,100 wholesale doors in more than 60 countries and it has a strong direct-to-consumer business as well, which represented 37.7 percent of overall sales in 2020 and 36.6 percent in the first half of 2021. On was valued at $2 billion after its most recent investment round, according to Reuters, and had been seeking a valuation of between $4 billion and $6 billion as part of the IPO.
Goldman Sachs & Co. LLC, Morgan Stanley and J.P. Morgan are acting as joint lead book-running managers for the proposed offering, with Allen & Company LLC, UBS Investment Bank, and Credit Suisse acting as joint book-running managers, the company said., The Honest Co., ThredUp and more.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Steph Curry's Mom, Sonya, Files For Divorce From DellTMZ Sports has learned Steph Curry's mom, Sonya Curry, has filed for divorce from Dell Curry.
Leer más »
Minorities and women are finally getting a seat at the IPO underwriting table''Everyone has reputational risk,' DiBartolo said. 'You want to know who the firms are, who’s behind them, how much of the workforce is diverse, what’s the regulatory history, and is there any pending litigation. These are all questions you should ask.''
Leer más »
Opinion: The Fed should raise rates to 5% to quench overheating economy, Taylor rule saysOPINION: With inflation already running hot, the Fed is playing with fire, economist John Taylor argues.
Leer más »
12 Sweet Treats to Make When You're Out of FlourPlenty of recipes for cakes, cookies, puddings, and custards don’t require flour at all!
Leer más »
Beyoncé and Jay-Z Meet a Blue Basquiat in Tiffany’s New Campaign: EXCLUSIVEIn a blockbuster yearlong TiffanyAndCo campaign Beyonce and her husband Jay-Z meet a blue Basquiat. WWD has the exclusive on Alexandre Arnault’s most ambitious advertising effort for the iconic jeweler.
Leer más »
‘Cyberpunk 2077’ Multiplayer May Not Be Dead After All, According To Patch 1.3 FilesWhile on the surface, not that much seems to have fundamentally changed with Cyberpunk 2077 in patch 1.3 with hundreds more bug fixes and only minor QoL additions and bits of new content, it was a sprawling 35-40...
Leer más »