IPO for shoemaker On a sign of growing demand for athleisure products

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Investors started this week in the stock market of running shoe company On, amid fresh signs of moderation in consumer spending.

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why it matters: apparel sales Access As the economy reopened earlier this year – and buying athletic apparel, especially sneakers, is a pandemic habit that doesn’t seem to end.

  • Switzerland-based shares resume trading close to 50% Above the IPO price, which puts the company’s value at a higher $6 billion.

Flashback: Brooks, Puma and Hoka were among them top performance According to the NPD group, running shoe brands during the early months of the pandemic last year.

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What are they saying: There is a “strong demand” for athletic products and running shoes and sneakers as people are now getting out of their homes, says Brian Nagel, managing director of Oppenheimer.

  • it is a continuation of running boom The trend which started with the onset of the pandemic, he added.

big picture: As consumers now have more disposable income to spend, they may be more willing to pay for products that are “even more fashion forward, sustainable, and performance-driven,” Nagel says.

  • Specifically, it’s ranked among retail’s hottest running brands, Mitch Kumetz, senior analyst for footwear and apparel at Pivotal Research, tells Nerdshala.
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Watch to see: Allbirds is set to start trading on the Nasdaq next.

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