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

1. On's sales rose over 40% to 726.6 million Swiss francs. 2. The brand gains market share from Nike and Adidas through innovative aesthetics. 3. Nike's declining sales in 2021 helped On's initial growth. 4. Nike's turnaround plan could create competition for On. 5. Tariff uncertainty poses challenges, especially with 90% of production in Vietnam.