The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
Twenty-time Grand Slam tennis champion Roger Federer has bought a stake in Swiss running shoe manufacturer On, a move prompted by the end of his contract with Nike Inc and as he plans for life after professional tennis, Swiss newspaper NZZ am Sonntag reported.
“I am excited to be able to work with a young Swiss company that’s on the up,†Federer was quoted as saying. Without disclosing the actual size of his investment, Federer, 38, said he has put a substantial amount into the Zurich-based company.
While Federer won’t take up a formal role at On, the company expects to release its first shoe that the star helped develop next year.