Tech
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
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How On Running Shoes Are Taking On Nike And Adidas
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President Trump’s sweeping new tariffs sparked a $6 trillion market sell-off and reignited debate about trade policy. Economists say they’re watching for signs the tariffs might break the economic expansion or worsen inflation.
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President Donald Trump is pushing to pass a sweeping tax and spending bill by July 4, but the proposal is already sparking fierce internal GOP debate. The bill combines 2017 tax cut extensions with new Trump-era proposals, including deductions on American-made auto loans and changes to child tax credits. But not everyone is on board. Elon Musk has launched a high-profile feud with Trump over the bill, and key Republican senators are warning that the bill could add trillions to the national debt.
CHAPTERS:
0:00 Introduction
1:45 What’s in the bill?
3:41 Why does Elon Musk oppose it?
7:12 Impact
Reporting by
Emily Wilkins
Produced by
Charlotte Morabito
Edited by
Andrea Miller
Senior Director of Video
Lindsey Jacobson
Additional Footage
Getty Images
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What’s In The Big, Beautiful Bill And Why Elon Musk Hates It
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Why China Loves Buick
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