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标题:Nike and Adidas are losing their lead in running shoes

On, Hoka and other challengers are catching up fast

正文：The origin of On, a Swiss sportswear brand, is unusual. In 2010 Olivier Bernhard, a triathlete, stuck bits of garden hose to the bottom of his trainers for added cushioning. The idea worked so well that he and two friends decided to make a business out of it. Their shoes were a hit; last year the company made almost $2bn in sales. On November 12th it reported that its revenue in the quarter to September grew by 32%, year on year. On now has a market value of $17bn.

知识点：sportswear n. /ˈspɔːrtswer/

1. clothes that are worn for playing sports, or in informal situations运动服装

• Look, here is a special offer on jeans and sportswear. 看，这⼉的⽜仔裤和休闲服有特殊优惠。

2. clothes that are worn in informal situations便装

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