Kylian Mbappé leaves Nike for Swiss brand On, marking On's debut in football endorsements.

Kylian Mbappé has ended his long-standing endorsement deal with Nike, which chose not to renew his contract, and signed with Swiss sportswear company On. This marks On's first major entry into football, alongside naming Thierry Henry as director of football. Nike's decision reflects its strategic shift amid business challenges, while On aims to innovate in football apparel with Mbappé's involvement. The move highlights a significant shift in sports endorsements and brand strategies in global soccer.

Following Kylian Mbappé's move from Nike to On, Nike's stock on Pluang is priced at USD 35.88, down 1.32% as of Sep 19, 2026 00:02 WIB, with a market cap of $53.94 billion. Meanwhile, On Holding AG shares are trading at USD 27.84, up 1.87%, reflecting strong buying interest with 91% of Pluang orders to buy. This shift coincides with On's shorter typical hold time of 23 days compared to Nike's 155 days, indicating different investor dynamics on Pluang.