Swiss sportswear brand On (a Zurich-based premium athletic company founded in 2010 and listed on the New York Stock Exchange) has confirmed French football star Kylian Mbappé as its new brand ambassador, marking its formal entry into the global football market, projected to reach $38 billion in coming years. The announcement came at an investor day where On's co-founders also unveiled a $1 billion share buyback — the company's first — after its stock lost more than 40% of its value this year, partly due to missed revenue growth targets. On's football boot collection is planned for launch in 2027 and will feature its proprietary Light Spray technology, mirroring the strategy used when the brand entered tennis through a partnership with Roger Federer, though analysts note it will need to sign additional stars and club sponsorship deals to establish genuine credibility in the highly competitive footwear market.