On Holding Lures Mbappé with Equity Deal, Enters Global Football Market
On Holding AG has made a significant move in the global football market by luring French soccer superstar Kylian Mbappé away from Nike. The Swiss sportswear maker handed Mbappé an equity stake in the company as it prepares to enter the global football footwear market.
The partnership, announced on Friday, positions Mbappé as a central figure in On's push beyond its core running and tennis categories. Rather than functioning as a conventional sponsorship, the deal gives the 27-year-old a direct financial interest in the company's performance and places him inside its Zurich product development operation.
Mbappé will work alongside On's engineering teams to test and refine football cleats built with LightSpray, the company's proprietary robotic manufacturing process that sprays continuous filament to create ultra-lightweight footwear. On plans to launch its first commercial football shoes in 2027.