Mbappe Ditches Nike for Swiss Rival in Soccer Ambitions
French soccer star Kylian Mbappe has ended his two-decade partnership with Nike to join Swiss sportswear brand On, giving the company a major boost in its push into soccer. The deal includes both cash and equity components, but the financial terms remain undisclosed.
Mbappe's move to On marks a significant departure from his long-standing relationship with Nike, which began when he was just 9 years old. His exit comes on the heels of Nike losing recent World Cup winner Spain's Lamine Yamal to Adidas.
On is looking to expand beyond running and tennis into soccer, where it plans to launch its first boots in 2027. The company has brought in former France star Thierry Henry as director of football to help drive this growth.
Nike CEO Elliott Hill has pushed to reset the company's strategy, refocusing on key sports like soccer and running. Losing Mbappe could undercut these efforts, but investors are more focused on Nike's product innovation to drive revenue growth.