Investors are always looking for the next big thing, but investing before a company has a proven track record can come with a lot of risk. On occasion, you can find a stock with huge opportunities that's still in its early growth stages but has already demonstrated enough success for investors to be confident about where it's going.

That's what's happening with On Holding (NYSE: ONON). The Swiss company exploded onto the activewear scene with its distinctive CloudTec sneakers, and it looks like it could be an incredible growth stock to add to your portfolio. Here are three reasons why.

On has been unstoppable, demonstrating outstanding growth despite the pressure in the economy. It's outdoing its peers, including leading athleticwear giant Nike, Adidas, and similar premium activewear company Lululemon Athletica.

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Source Fool.com