How On Running Shoes Are Taking On Nike And Adidas

Nike and Adidas have long dominated the global sportswear market, but a Swiss sneaker company is quickly gaining ground. The brand On sells premium priced athletic wear and is most known for its trademark running sneakers with hollow pads in the sole. In its most recent quarter, the company reported net sales of $869 million, over 40% higher from the year prior. Meanwhile, Nike’s revenues have fallen 9% this year, compared to the same quarter last year. Nike still owns around 40% of global market share in athletic footwear, and On makes up a little under 3%, but that share has increased eightfold since 2019. Experts say On is now one of the biggest challengers in sportswear. But with Nike mounting a comeback and potential tariffs looming, can the Swiss brand maintain its edge? CNBC visited On’s headquarters in Zurich, Switzerland to get a behind-the-scenes look at the company and how its shoes are made. Chapters: 0:00 Introduction 1:59 Chapter 1: The rise of On 5:25 Chapter 2: Taking on Nike 7:49 Chapter 3: Tariffs Producer: Merritt Enright Edited by: Andrea Miller Graphics: Jason Reginato, Mithra Krishnan Additional footage: Getty Images, On, Reuters, Nike » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Watch CNBC on the go with CNBC+: https://www.cnbc.com/WatchCNBCPlus About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Do you want a new career that’s higher-paying, more flexible or fulfilling? Take CNBC’s new online course - How to Change Careers and Be Happier at Work. Register today: https://cnb.cx/4igNyqZ Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC Follow CNBC News on Facebook: https://cnb