GENEVA/LONDON -- Fresh offg French soccer star Kylian Mbappe to a sponsorship deal, Swiss sportswear maker On plans to roll out a fully automated manufacturing system that can make a shoe in just 15 minutes as it expands globally.

On's pricing strategy "is very easy: Apple has done it in computers and phones, which is taking a lot of discipline and not being in a wrong channel," co-CEO Caspar Coppetti told Nikkei on Wednesday.

Under its new medium-term business plan, On aims to raise net sales to 5.6 billion Swiss francs ($6.76 billion) by 2029, nearly double the 3 billion francs it posted in 2025. It is targeting a gross profit margin of 65%, among the highest in the industry.

New business lines are expected to drive growth. Alongside its core running and tennis shoes, On is expanding into soccer and golf footwear and apparel, with related products set to launch as early as 2027.

The company announced a sponsorship deal on Sept. 18 with Mbappe, who had been associated with Nike for roughly two decades, scoring one of the U.S. sporting goods giant's most prominent athletes.

Nike is the world's top athletic shoemaker by market capitalization, at around $53 billion, followed by Germany's Adidas with about $28 billion, QUICK FactSet data shows. On weighs in at around $10 billion, trailing Japan's ASICS. On co-CEO Caspar Coppetti, left, says he believes the company could sell far more shoes than it can make now.

But Nike's share price has languished along with its earnings, and the company was recently removed from the S&P 100 index for the first time in 18 years. Swiss media have reported that On could overtake Adidas in the running shoe market by 2027.

But Nike's share price has languished along with its earnings, and the company was recently removed from the S&P 100 index for the first time in 18 years. Swiss media have reported that On could overtake Adidas in the running shoe market by 2027.

Since its founding in 2010, On has grown rapidly on the popularity of its CloudTec sole technology, which is designed to cushion impacts. The company's strategy sets it apart from competition on the lowest prices. "We believe, at this moment, we have the best products," Coppetti said.

Another innovation is LightSpray, a production technology that uses robotic arms. Thermoplastic polyurethane is transformed into thread-like material and sprayed onto a shoe mold fitted with a sole, creating the upper in just three to five minutes per shoe. Even including coloring, the entire production process takes only 15 minutes.

On's South Korean factory has 32 LightSpray robot units. (On) On operates four LightSpray units for its development pipeline in Zurich. In February, it opened a factory near Busan, South Korea, equipped with 32 machines. "Normally, it takes 400 people working by hand to make a single pair of shoes. With LightSpray, we can do that fully automatically," Coppetti said. He added that the technology can also shorten the time from design to commercialization from more than a year at present to around four weeks. The South Korean plant can produce about 1 million pairs a year, but Coppetti said "we could probably sell roughly 10 times more Lightspray shoes than we can currently make." The company plans to establish another two or three facilities worldwide within two years.

"If we place LightSpray machines in our own stores, customers could create customized shoes on the spot," he said, adding that Japan is among the markets being considered for deployment. On sneakers prominently display both the Swiss flag and the label "Swiss Engineering." (Nikkei) As On expands production abroad, it is facing a backlash at home.

Under the "Swissness" law, which took effect in 2017, industrial products can carry the Swiss flag only if at least 60% of manufacturing costs are incurred at home. Products bearing the Swiss flag can reportedly sell for 20% to 50% more than comparable goods.

Since its founding, On has produced its footwear in Vietnam and Indonesia while putting the Swiss flag on its products. Smaller manufacturers that have continued producing at home have criticized the company, saying it damages Swiss branding.

On counters that value-added costs include research and development spending. Switzerland's intellectual property authority issued guidance in March supporting that interpretation, permitting the use of the Swiss flag provided products are labeled "Swiss Engineering" rather than "Made in Switzerland." Coppetti said that On intends to continue making active use of the Swiss flag in its branding. To protect the reputation of Swiss-made quality, the company has introduced rigorous quality-control checks throughout the manufacturing process.

On counters that value-added costs include research and development spending. Switzerland's intellectual property authority issued guidance in March supporting that interpretation, permitting the use of the Swiss flag provided products are labeled "Swiss Engineering" rather than "Made in Switzerland." Coppetti said that On intends to continue making active use of the Swiss flag in its branding. To protect the reputation of Swiss-made quality, the company has introduced rigorous quality-control checks throughout the manufacturing process.

Even so, some in the country are still dissatisfied. In August, a Swiss federation of small and medium enterprises argued that the revised interpretation sends the wrong signal by encouraging companies to relocate abroad and called on authorities to reverse the decision.

"Switzerland fortunately enjoys a strong reputation abroad," Coppetti said. "I believe On benefits from that, but I also believe Switzerland benefits from it as well."