Spreadsheet supplement for case 723430.

Founded in 2010, in just one decade, the Swiss company On had established itself as a main player in global sports footwear and apparel. Based on an unconventional strategy which one of the founders labeled as "obsessively distinct," On grew its sales with a compound annual growth rate of more than 75% between 2013 and 2021, and went public in 2021. In 2022, On was on the verge of launching a revolutionary new subscription-based service that exclusively provided customers with the Cloudneo, a fully recyclable performance running shoe. Designed as a circular business model, Cyclon would deviate from On's proven growth strategy and would contradict the dominant logic of how running shoes were consumed. On had to decide whether or not to implement the subscription-based business model as envisioned.