French soccer star Kylian Mbappé has ended his nearly two-decade advertising partnership with Nike and signed with Swiss sportswear company On. He will help develop high-performance football footwear and apparel, marking On’s entry into soccer. The split came as Nike shares edged lower after an apology over a controversial Converse advertisement, with the stock nearly 50% below its level a year earlier. Mbappé, the all-time World Cup goal scoring leader and No. 12 on Forbes’ list of the highest-paid athletes of 2026, said he had 20 amazing years with Nike but believed it was time for a change. On’s shares rose nearly 4% after the switch was reported, and the company also hired retired French soccer player Thierry Henry as its director of football.