On Holding AG (ONON) generates its revenue primarily through the design, marketing, and global distribution of premium athletic footwear, high-performance apparel, and accessories. The company utilizes a dual-distribution business model, splitting its sales between wholesale partnerships with elite sporting goods retailers and specialty shops, and its high-growth direct-to-consumer (DTC) channels encompassing branded retail stores and its official e-commerce website. Revenue growth is driven by expanding its global customer footprint, introducing innovative footwear technologies like CloudTec and LightSpray, and broadening its product categories into tennis, training, and lifestyle apparel.