Dive Brief:
- After getting early support from tennis player Roger Federer, activewear brand On has signed three triathletes as ambassadors: Olympic Champion Kristian Blummenfelt, Ironman World Champion Chelsea Sodaro and Ironman 70.3 World Championship silver medalist Paula Findlay, the brand announced on Wednesday.
- Findlay is expected to wear On at the Oceanside Ironman 70.3 on April 2 and also expects to compete at the Ironman 70.3 World Championships this year. Blummenfelt will compete wearing On shoes, and help to test and develop new high-performance products.
- Also this week, the brand announced the launch of an “On Track Nights” running event series, which will feature track races in Los Angeles; Highgate, United Kingdom; Montesson, France; Melbourne, Australia; and Vienna. The company will provide entertainment as well, including screening, interactive booths, recovery stations, food and drink stations, and athlete appearances.
Dive Insight:
On is continuing to tap top athletic talent. In 2019, tennis star Federer invested in the company. Two years later, the company filed for an IPO with an expected share price between $18 and $20 each. The company decided to go public because the business was in a good place financially and had many growth drivers, Martin Hoffmann, co-CEO of On, told Retail Dive earlier this month.
“With the new additions, we have winners across all majors on our team,” Flavio Calligaris, On’s head of athlete strategy and partnership, said in a statement. “It is our focus to attract and develop the triathlon talent of tomorrow. That is why it was important for us to work with these successful athletes in their prime to provide role models for younger triathletes.”
On has also expanded its offline reach through wholesale partnerships. Last March, the brand said it wanted to deepen its relationship with Nordstrom, JD Sports and Foot Locker. The company also announced Dick’s Sporting Goods and its sister retailer Public Lands as wholesale partners at that time. Wholesale has been a critical part of the company’s growth so far.
“Back in 2015, 2016, 2017 — we got so many questions on why we’re doing wholesale,” Co-CEO Marc Maurer told Retail Dive earlier this month. “We always said, you know, we’re doing wholesale because it allows us to acquire new consumers in a cheaper way and to scale the brand quite efficiently. Because if you’re a pure DTC, you have to create brand awareness.”
via https://www.aiupnow.com
Tatiana Walk-Morris, Khareem Sudlow
