French soccer captain Kylian Mbappé announced a new partnership with Swiss sportswear company On, ending a relationship with Nike that began in 2006 when he was nine years old. The move gives the Roger Federer‑backed brand a marquee name as it expands beyond running and tennis into soccer.
On’s soccer ambitions
On says the agreement includes cash and equity components, though financial details were not disclosed. The company plans to launch its first soccer boots in 2027 and has appointed former France star Thierry Henry as director of football to steer the effort.
Impact on Nike
The loss adds to recent setbacks for Nike, which also saw World Cup winner Lamine Yamal leave for Adidas and lost its Premier League match‑ball contract to Puma last year. Nike’s CEO Elliott Hill has been refocusing the brand on key sports such as soccer and running, and analysts note that while the departure is a disappointment, investors remain more concerned with product innovation and overall turnaround progress.
Nike issued a statement wishing Mbappé continued success, emphasizing the achievements the two have shared on and off the pitch. The company still holds the French national team’s kit‑supply agreement through 2033‑34 and secured a new contract to become the German national team’s official kit and equipment supplier starting in 2027.
Market reaction
On’s U.S.–listed shares showed only modest movement after the announcement, and Nike’s stock was largely unchanged, suggesting limited immediate investor impact. Analysts at Columbia Threadneedle described sentiment toward Nike as “decidedly negative,” but noted that the brand’s long‑term outlook depends more on product innovation than a single athlete endorsement.
Mbappé expressed excitement on social media, saying the move places him among innovators who share his vision for the future of the sport.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
