It's an interesting time for the sports apparel industry. A few massive companies, like and Adidas, have ruled the space for years with product lines that cover a broad range of sports and activities. Recently, however, the big players have been challenged by upstarts and specialty brands like On Holding (NYSE: ONON).

On, based in Switzerland, exploded onto the scene with its shoes aimed at serious runners. The shoes incorporate advanced technology with a distinct look that differentiates them from the competition. There is no mistaking an On shoe, and the company has made a big push into apparel too.

As Nike cedes shelf space and its stock falls, On is growing rapidly. Its share price has followed suit, up nearly 70% year to date. Is this bullish run sustainable? Where will On be a year from now? Let's take a look.

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Source Fool.com