Nike—on

This only ‘works’ if you pronounce Nike and Nikon like I do – Nike rhymes with bike (I don’t say it ‘Nikey’), and Nikon sounds like ‘Nike on’ (not ‘Nick on’).

July 2022 update: almost three years after I posted this, someone else has come up with a similar idea – and run with it. Designer Mostafa Azzam’s logo mashups have recently appeared on boredpanda (and can also be seen on Behance).

Previously on Barnflakes
OPEN / CLOSED, NOPE / LOSE
Tesco in Tresco