On Holding AG (NYSE: ONON) has announced a partnership with football star Kylian Mbappé, according to a report from Bloomberg. The deal is intended to support the company's expansion into the football market.
The news, published on September 18, 2026, indicates that Mbappé has signed with the Swiss athletic brand. This move is viewed as a significant step for On as it seeks to establish a presence in the sport, which contrasts with the long-standing dominance of Nike in the football category.
The report highlights that this signing represents a challenge to Nike's market position in football. As of the report's publication, Nike's stock was trading at $36.22, while On Holding AG's stock was valued at $27.30.
