Roger Federer invested $50 million in Swiss shoe company On; 4 years later, the brand went public at an $11.3 billion valuation

Roger Federer invested $50 million in Swiss shoe company: Sports partnerships can go far beyond putting an athlete’s name beside a company logo. Some deals includes athletes in product development, brand building and long-term business decisions leading to partnerships that can reshape both the athlete’s legacy and the organization's ambitions. Roger Federer’s association with Swiss sportswear company On is one example of that approach. In 2019, Federer did not simply become an endorser of On. He invested in the company, helped develop a tennis shoe and became involved in taking the brand into a sport where it had not earlier established itself.

At the time, On was primarily popular for its CloudTec running shoes and Swiss engineering. That changed in November 2019, when Federer joined the organization as an investor and what On stated as a co-entrepreneur. The New York Times described his position as that of an investor, contributing designer and representative.

The distinction mattered as an endorsement generally includes an athlete wearing a company’s logo, while Federer’s role involved helping create products that did not existed earlier.


“I’ve been a fan of On and its products for a while, but after talking to the founders I realised we have a lot more in common than just our Swiss roots,” Federer stated at the time. “I’m excited to be part of the On team and to work on the future of a next-generation global sports brand.”

On co-founder Olivier Bernhard also presented the arrangement as something different from a conventional sponsorship.

Federer Helped On Enter Tennis

The partnership soon moved from an investment relationship into product development. In July 2020, On introduced THE ROGER Centre Court, a tennis-inspired lifestyle sneaker.

The organization's more significant move into competitive tennis came in March 2021 at the Qatar Open in Doha. Federer debuted THE ROGER Pro, On’s initial competition tennis shoe. The shoe had been developed with Federer and initially was not available for sale.

Federer’s apparel association had already changed to Uniqlo in 2018, while his On footwear arrived later, after he had helped make the product.

Bernhard described the technical challenge involved in developing footwear for tennis.

On’s Public-Market Milestone

The size of Federer’s stake was never officially published. When On listed on the New York Stock Exchange in September 2021, its shares jumped over 47 percent, and the company was valued at almost $11.3 billion.

That public listing offered a visible milestone for the company just a few years after Federer became involved.

The supplied account also explains On as having continued to grow substantially, with the company later valued at more than $20 billion. Federer’s share of the company is currently believed to be worth well in excess of $500 million.

Federer himself has said that the scale and speed of On’s growth exceeded what he initially expected.

On Turns Its Attention to Football

On’s expansion is currently moving beyond tennis, with football becoming a major region of focus.

Kylian Mbappe concluded a Nike relationship that had started in 2006, when he was nine, and joined On in a deal involving both cash and equity. On plans to introduce its first football boots in 2027, while Arsenal legend Thierry Henry helped recruit Mbappe.

The Athletic reported that Nike was prepared to match the base money involved in the deal, while equity became a element in the agreement.

Mbappe explained the opportunity as another chance to help develop something from the start.

From Federer to Mbappe

The comparisons between Federer and Mbappe have limits. Federer’s departure from Nike was staggered, with Uniqlo taking over his apparel in 2018 and On’s tennis footwear arriving three years later.

Mbappe’s personal footwear move to On features a more direct change. Federer’s equity investment also eventually had a public-market milestone when On listed in 2021, while the value of Mbappe’s stake has not been established in the same way.

The timing is another significant difference. Federer joined On first, approximately seven years before Mbappe became part of the company’s football ambitions.

Still, the two partnerships share an important feature: both involve athletes participating in the development of a sports brand rather than simply wearing its products.

On’s early association with Federer helped the company get into tennis, develop a recognizable product line and establish a presence beyond its original running-shoe identity. The company is now trying a similar expansion in football with Mbappe and Henry.

The story also mirrors how On has developed from a Swiss running-shoe company into a wider sportswear business. Federer’s investment and product involvement came at an early stage of that transformation, while Mbappe’s arrival features another attempt to extend into a major sporting market.

As On moves toward its planned 2027 football-boot launch, the company’s football approach will put its method to athlete partnerships into a fresh setting.

FAQs:

1. Who is Roger Federer?

Roger Federer is a Swiss tennis legend who became involved with On as an investor and co-entrepreneur. He also helped develop tennis footwear for the company.

2. What is On?

On is a Swiss sportswear company known initially for its running shoes and CloudTec technology. The company has expanded into other sports and lifestyle footwear.