Sneaker Maker On Partners With Kylian Mbappe as Football Star Parts Ways With Nike

04:10 PM EDT, 09/18/2026 (MT Newswires) -- On Holding (ONON) has signed on soccer star Kylian Mbappe, marking the Swiss sportswear company's entry into the football market as Mbappe's relation with Nike (NKE) ended. On said Friday that the 2026 FIFA World Cup top goal scorer will be involved in the development of soccer footwear and apparel. Mbappe will also serve as a global ambassador for On, "extending the partnership beyond football into movement, performance, and contemporary design," according to the company. "Football needs new ideas and a challenge to what is possible," On co-Chief Executive David Allemann said, describing Kylian as "the perfect partner to dream what football can become." Financial terms of the partnership weren't disclosed. "I want to bring my experience and perspective into what we create, push what's possible through innovation, and always stay true to the joy of football," the Real Madrid player said in the company statement. Mbappe's contract with Nike ended in July, marking the end of their two-decade collaboration, according to news reports. Nike did not respond to MT Newswires' request for comment. "We are proud of what we achieved together on and off the pitch," Nike said in a statement to CNBC. "As he moves into the next phase of his career, we wish him continued success for what comes next." Nike lost 2026 World Cup winner Spain's Lamine Yamal to Adidas more than two years ago. On said Friday it hired former French football player Thierry Henry as director of football. "We are bullish on (On's) opportunity to utilize LightSpray to create innovative products while expanding brand awareness through such an important global sport," Truist Securities analyst Joseph Civello said in a note, referring to the company's fully-automated manufacturing technology. On's US-listed shares closed 0.3% lower on Friday, while Nike fell 2.3%. Last month, On tempered its full-year sales growth outlook as its second-quarter revenue fell short of market estimates. Price: 27.37, Change: +0.04, Percent Change: +0.13