On Running Shoe Company: From Concept to IPO

The transcript details the journey of Olivier Bernhardt, a world champion triathlete, who transitioned from sports to business by founding the running shoe company On. Despite initial challenges, On grew rapidly, aided by a partnership with tennis legend Roger Federer. The company went public in 2021, raising significant funds to support its expansion and innovation goals. Olivier's story emphasizes perseverance, innovation, and strategic partnerships in achieving business success.

What was Olivier Bernhardt's initial reaction to the running shoe concept with garden hoses?

• He thought it was a great idea from the start.

• He was skeptical about its business potential.

• He wanted to invest immediately.

• He loved the look immediately.

What was Olivier's first major win in his athletic career?

• Becoming a world champion triathlete

• Winning a triathlon in Europe

• Finishing first in a marathon in Tucson, Arizona

• Winning an Ironman competition

How did Olivier transition from being an athlete to an entrepreneur?

• He invested in other athletes.

• He immediately started a shoe company after retiring.

• He founded a coaching company and later pursued the shoe idea.

• He became a sports commentator.

What was the first major success for On at the ISPO exhibition?

• Securing a deal with Nike

• Winning the Gold Award with the Cloud Racer

• Opening a new store in Zurich

• Launching a new marketing campaign

How did On initially convince retailers to stock their shoes?

• Through traditional advertising

• By demonstrating the shoes' performance through running

• By partnering with famous athletes

• By offering large discounts

What was a significant factor in On's decision to go public?

• To stop expanding internationally

• To focus solely on the European market

• To reduce production costs

• To compete with major brands like Nike and Adidas

What role did Roger Federer play in On's development?

• He only endorsed the brand.

• He was a silent investor.

• He became a partner and helped design shoes.

• He was the CEO of the company.

How did the pandemic affect On's sales in 2020?

• Sales tripled by the end of the year.

• Sales remained the same.

• Sales decreased significantly.

• Sales doubled by the end of the year.

What was Olivier's philosophy regarding competition in business?

• Always attack the competition.

• Focus on making the best product.

• Compete by lowering prices.

• Avoid competition entirely.

What was a key reason for On's IPO according to Olivier?

• To secure resources for future growth

• To reduce the number of employees

• To focus on a single product line

• To exit the shoe market