Nike Loses Mbappé to On in Major Sports Brand Shift
Kylian Mbappé leaves Nike for On, marking the Swiss brand's first soccer signing and a major blow to Nike's soccer roster.
The update
Swiss sportswear company On has signed soccer superstar Kylian Mbappé, ending a roughly two-decade partnership with Nike. Sources indicate Nike chose not to renew Mbappé’s contract when it expired, reallocating its endorsement funds. This marks On’s first-ever football signing. The deal includes naming retired French star Thierry Henry as director of football, signaling a broader push into the sport.
Why it matters
The move represents a significant strategic shift for both brands. For Nike, it follows a period of restructuring under new CEO Elliott Hill, including stock declines and a focus on rebuilding loyalty. For On, landing Mbappé is a high-profile entry into global soccer, aiming to challenge established market leaders with a focus on innovation and a “fresh perspective” on the game.
What to watch
- Financial terms of the new agreement remain undisclosed.
- How this deal influences Nike’s future roster of soccer athletes.
- Whether On can leverage Mbappé’s global profile to grow beyond its core running market.
Sources
- cnbc.com — Details on the contract expiration, Nike's decision not to renew, and On's first football signing.
- ft.com — Context on On's long-term partnership strategy and comparison to the Roger Federer model.
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