While footwear manufacturers like Nike Inc. (NYSE: NKE), Crocs Inc. (NASDAQ: CROX), and Skechers U.S.A. Inc. (NYSE: SKX) stocks took hits with contracting sales due to weaker consumer spending, ON Holdings AG (NYSE: ONON) has been quietly making new highs trading up nearly 90% year-to-date (YTD). This consumer discretionary sector company's sneakers have an elastic demand appeal with runners.
On Holding's CloudTec Technology
From Deckers Outdoor Co. (NYSE: DECK) Hoka's "Active Foot Frame" and "MetaRocker" technology to Nike's "Tensil Air" and "ReactX" technology with carbon fiber plates and ZoomX foam, it seems every sneaker manufacturer has some proprietary technology that makes their shoes special.
On Holding's CloudTec technology is meant to make runners feel like they're walking on clouds. It's a Swiss-engineered cushioning technology comprised of cylindrical cloud parts located on the shoe's outsole that compress vertically and horizontally to absorb impact, providing a soft landing with each step.
It also has a rebounding effect that builds a propulsive force to propel the runner forward. It converts the kinetic energy generated by each landing into a powerful takeoff.
Unveiling LightSpray Technology
On Holding unveiled its LightSpray technology during the 2024 Paris Olympics. It's a revolutionary manufacturing process that takes three minutes to make each shoe. They are spray-on shoes. It uses a robotic arm that applies liquid polymer material onto an upper ...
