As an extension of his legacy, Roger Federer has been an active ambassador, designer and owner of fashion apparel brands during his 24-year-long career and even after his retirement. His brand deals with Nike, Adidas and Uniqlo among others created headlines during its commencement with its record-shattering valuations.
Now, the Swiss legend has hit another jackpot as his brand has surpassed industry big whigs like Nike and Adidas with its staggering quarterly earning revenues. The success of the Federer-backed shoe brand is sure to increase the Swiss’ net worth to insane amounts!
Roger Federer backed shoe brand surpasses Nike and Adidas
Roger Federer left his brand partnership with Nike, a deal worth over $100 million, to join the Swiss shoe brand On. He later became a co-owner of the company in 2019 and foresaw its introduction of the cloud technology that provides a cushioning system in the shoes.
On has become a powerhouse in the athletics apparel market by appealing to athletes and runners alike who are looking to add comfort and cushioning to their shoes. The brand has even extended its market to Asia and released a whole set of ‘Federer’ shoes to its customers on the continent.
In what has been a disappointing year for competitors, 2023 saw On witness a 46.5% net sales increase from the previous year to $540.2 million in the third fiscal quarter. While its shoes are sold in 60 different countries, the majority of its sales came from the United States, where it witnessed a 60.5% boost in sales recently.
The shoe apparel market has taken a hit in recent years, owing to the pandemic and restrictions to venture outside the home, but the FedEx presence has sweetened the deal for customers who are looking for an elite feel to their apparel.
The Swiss, who retired in 2022, is busy undertaking various business ventures in his downtime and recently revealed his plans for a possible comeback to tennis.
Is Roger Federer comeback to tennis?
Roger Federer revealed he has no plans to make a comeback to tennis, as his recurring knee problem prevented him from doing so.
The Swiss maestro has had a decorated career, winning 20 grand slams and 103 singles ATP titles, and also is listed third on the most ATP singles appearances ever. However, a persistent knee injury saw him hang his boots in 2022 during the Laver Cup and has since gone on to make appearances at major tennis events around the globe after his retirement.
“I would still like to play some exhibitions down the road so I want to stay in shape and try to look good a little bit,” Roger Federer told ATP Media.
However, he made it very clear that he was done with professional tennis as his knee assured him of never setting foot on the court again.
“When you know the knee doesn’t allow you to play at this level, the mind doesn’t even go there that I could be on court right now,” he added.
Federer was most recently seen in the stands during the Shanghai Open, fervently cheering on Andrey Rublev during his match with Hubert Hurkacz.
What are your opinions on Roger Federer’s new success with On? Let us know in the comments section below.
