Lululemon Athletica (NASDAQ: LULU) has generated massive gains for its investors since its initial public offering (IPO) in 2007. Shares of the Canadian athleisure apparel maker have soared from their split-adjusted IPO price of $9 to nearly $510 today -- which would have turned a $1,000 investment into nearly $57,000 over the past 16 years.

Those multi-bagger gains drove many investors to seek out the "next Lululemon" in the athletic apparel market. One of those winners might be On Holding (NYSE: ONON), the Swiss footwear and apparel maker that went public just two years ago.

Image source: Getty Images.

Continue reading

Source Fool.com