After Nike, Adidas, and Puma turned down his soft-landing running shoe prototype, Olivier Bernhardt built On into a $17 billion company that signed Kylian Mbappé away from Nike.
Olivier Bernhardt's unconventional shoe innovation, born from rejection by Nike, Adidas, and Puma, evolved into On, a brand now valued at over $17 billion and backed by endorsements from Roger Federer and Kylian Mbappé.
Bernhardt later admitted that the prototype was hideous in appearance. Despite the shoe's functional benefits for his achilles tendon issues, the major brands turned it down.
Roger Federer wore On shoes in 2019 after buying a pair, bringing significant visibility to the brand. The company also went public in 2021 at a $7.3 billion valuation, and Kylian Mbappé signed with On in 2025 after leaving Nike, which boosted the company's value.
A friend glued cut-up garden hose to a running shoe for Olivier Bernhardt, a duathlete and Ironman champion whose achilles tendons were damaged by racing. When tested, the modified shoe felt incredible, leading to the development of On's shoe design.
More videos by William Lebovics →
Watch on Yesodi → Join Yesodi →