BrandHistories
Compiling intelligence...
Nike
Nike's strategic focus on DTC digital growth and lifestyle product during 2020-2023 reduced investment in performance running product development, running specialty retail relationships, and running community marketing at precisely the moment that On Running and HOKA were aggressively investing in these areas. The simultaneous withdrawal from performance running investment and challenger brand acceleration in the category created a competitive opening that On and HOKA have exploited — with On growing from $400 million to $2 billion in revenue during the same period that Nike's performance running category share declined measurably among serious runners.