How On is taking on Nike and Adidas in the sneaker race

How On is taking on Nike and Adidas in the sneaker race


Swiss brand On is quickly emerging as a global challenger in the sportswear market.

The company, which sells premium-priced athletic shoes and apparel, reported net sales for the three-month period ended March 31 rose over 40% to 726.6 million Swiss francs (US$869 million) compared with the year prior.

Analysts say the brand has been able to capture market share from legacy competitors like Nike and Adidas through innovative products and timing.  

“The main thing they really understood was they went for the aesthetic of the shoe,” said Aneesha Sherman, managing director at Bernstein. “It’s really like no other silhouette that the consumer had seen. That is what drove the initial success.” 

Around the time of On’s 2021 initial public offering, Nike saw declining sales during a pullback from wholesale retailers and stalling innovation. Adidas also experienced rocky quarters as it ended its controversial partnership with Kanye West. 

Nike and Adidas still own a combined 58% of global market share, according to FactSet, while On makes up a little less than 3%. But its earnings growth rate has outpaced both companies in recent quarters. 

“It was luck as well as design that got them that huge scale in the years 2021, onwards, with that mass consumer,” Sherman said. “For the first time, retailers were actually going out there and looking for emerging, high-growth brands to take that [shelf] space and On was right there for them.” 

Now, Nike is mounting a turnaround plan under its new CEO, Elliott Hill, which analysts say could pose a potential headwind to On.

The company also faces tariffs uncertainty along with the rest of the sportswear industry. Around 90% of On’s sneakers are manufactured in Vietnam, according the company, which President Donald Trump has said could face a 46% import duty.  

Watch the video above to learn more about how On is taking on sportswear competitors and how it plans to navigate tariffs.  



Source

Bitcoin rallies to within 1% of all-time high, gaining safe haven status during shutdown
World

Bitcoin rallies to within 1% of all-time high, gaining safe haven status during shutdown

CHONGQING, CHINA – JULY 17: In this photo illustration, a person holds a physical representation of a Bitcoin (BTC) coin in front of a screen displaying a candlestick chart of Bitcoin’s latest price movements on July 17, 2025 in Chongqing, China. (Photo illustration by Cheng Xin/Getty Images) Cheng Xin | Getty Images News | Getty […]

Read More
European stocks end positive after touching fresh record high
World

European stocks end positive after touching fresh record high

European stocks ended higher on Friday, building on momentum that has pushed regional indexes higher this week. The pan-European Stoxx 600 closed the session up 0.5%, having added 0.5% in Thursday’s session after reaching a record high earlier in the day, marking the index’s fifth consecutive day of gains. Major bourses across the region made […]

Read More
Tesla had blowout quarter for sales of new cars. Why the EV stock fell sharply anyway
World

Tesla had blowout quarter for sales of new cars. Why the EV stock fell sharply anyway

Tesla posted stronger-than-expected third-quarter vehicle deliveries , but shares fell sharply as Wall Street analysts flagged looming headwinds ranging from the end of U.S. electric vehicle tax credits to continued pressure on profit margins. Quarterly vehicle deliveries through Sept. 30, when a key tax credit for EV buyers in the U.S. expired, climbed 7% during […]

Read More