$9,000,000,000 Tennis Challenge Bombards Billionaire Roger Federer’s Company As They Struggle To Live Up to Decades-Old Stalwarts in the Industry

When the Swiss sporting apparel brand ‘On Running’ signed a deal with Roger Federer to make inroads in the market, everyone expected it to become the next big name in the industry. But, the market competition for sporting apparel gets tougher with every passing day. Although new brands continue to grow and challenge the renowned ones, it’s hard to compete with the old brands’ goodwill. The new companies apply different tactics to break the monopoly, but only some succeed.

Federer’s involvement led to a steady growth of ‘On’. They recorded $1 billion in sales last year. Tennis stars including WTA World No. 1 Iga Swiatek and American prodigy Ben Shelton have joined forces with On. However, they have struggled to occupy a major section of the highly competitive market.

Roger Federer’s company struggles against competitors

On has seen a continuous growth in its revenue. Currently valued at $10 Billion, it has become one of the most popular sporting apparel collections. But competitors like Nike and Adidas have had a stronghold in this industry for decades. Compared to On’s $1 billion in sales last year, Nike and Adidas generated $46.7 million and $23.7 million respectively. However, rivals’ goodwill is not the only reason behind the revenue gap.

According to Forbes, the inability to capture the sneaker market has stopped On from further growth. Famous for its running shoes, On has struggled to design the perfect pair of sneakers for tennis. Federer himself has been a fan of those running shoes. However, they do not provide lateral stability for the 360-degree movement in tennis. On has been aiming to crack the $9 billion tennis equipment market, but they have failed to do so far. Despite signing deals with the likes of Swiatek and Shelton, the company has a long way to go.

Prior to the commencement of the ongoing US Open, Shelton and Swiatek also had the opportunity to pose with the Swiss Maestro.

Federer poses with Iga Swiatek and Ben Shelton

Instead of making his way to the Flushing Meadows, retired Roger Federer spent time with kids of a youth development community in New York. Swiatek and Shelton joined the 20-time major champion for their brand promotion. The trio posed together before Federer played a little exhibition to cheer up the kids. In fact, the Swiss icon also attempted a two handed-backhand at the event despite being popular for his one-hander.

ALSO READ: 5 Months After Massive Announcement With Roger Federer’s $9,000,000,000 Company, Iga Swiatek Reveals What Prompted Her to Make Such a Drastic Business Move

Do you see other rising tennis stars joining Swiatek and Shelton to sign a deal with On? Let us know in the comments.

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