Jim Cramer Wants You To Keep An Eye On 'World's Fastest Growing' Sneaker Brand Backed By Roger Federer

Jim Cramer, the CNBC Mad Money host, weighed in on this Swiss sneaker maker that's backed by tennis legend Roger Federer.

What Happened: According to Cramer, On Holding AG ONON, launched in 2010, is the "fastest growing sneaker company in the world."

He said this on the heels of On Holding's impressive financial performance, as the company recently announced a 78 percent sales growth in Q1, exceeding consensus estimates, reported CNBC.

See Also: Cramer Thrilled As Warren Buffett Syncs With His New Bank Stock Pick: ‘Told You That’s One Well Run Outfit’

Cramer pointed out that it "seems like every other person is wearing these On sneakers," and highlighted the brand's remarkable penetration into the American market. The company experienced a phenomenal "91% growth in the Americas," Cramer said, adding, "Hard to beat."

Cramer made these comments while advising young investors to explore "junior" growth stocks, which refer to young, fast-growing companies that come with higher risk potential but offer the possibility of high returns.

Two of Cramer's other top picks include energy drink maker Celsius Holdings Inc. CELH, which he said "could be the next Monster Beverage," and coffee chain Dutch Bros Inc. BROS, calling it "My kind of elixir."

Why It Matters: The Swiss sneaker brand is likely to benefit from strong product demand, inventory availability and a series of new product launches supported by its remarkable brand momentum. The company even raised its guidance for FY23 sales, with revenues expected to exceed CHF 1.74 billion.

That apart, Federer's endorsement and involvement with On Holding seems to have played a part in the brand's rise, amplifying its visibility and credibility, and expanding its customer base to a wider audience.

Read Next: Take That, Jim Cramer And Bill Gates! Joe Rogan Thinks The Cybertruck Is Great — Here’s What He Says

Photo by Aw1805 on Wikimedia Commons