In a seismic shift for the global sportswear landscape, French soccer icon Kylian Mbappé has officially ended his two-decade-long partnership with Nike. The Real Madrid star and French national team captain has signed with the rapidly ascending Swiss brand On, a move that serves as a major coup for the Roger Federer-backed company as it aggressively pivots toward the professional soccer market.
While the financial specifics of the agreement remain under wraps, On confirmed that the deal is structured to include both cash payments and equity, signaling a long-term commitment between the player and the brand.
This defection marks the end of an era for Mbappé and Nike, a relationship that began when the striker was just nine years old in 2006. For On, the signing is a foundational step in its ambitious strategy to diversify beyond its roots in high-performance running and tennis. The company has already signaled its intent to become a serious contender in the pitch-side market, with plans to launch its first line of soccer boots in 2027. To bolster these efforts, On has appointed former Arsenal and France legend Thierry Henry as its director of football, tasking the icon with overseeing the brand’s entry into the sport.
The loss of Mbappé is the latest in a series of high-profile departures for the United States-based sportswear giant. Nike, which has long dominated the global market, recently saw Spanish teenage sensation Lamine Yamal defect to Adidas. These exits, combined with Puma replacing Nike as the Premier League’s match ball supplier, suggest that the competitive landscape is shifting as newer, agile brands challenge Nike’s historical supremacy.
Despite the high-profile nature of the split, markets remained relatively calm on Friday morning. On’s US-listed shares saw only modest gains, and Nike’s stock remained largely steady, suggesting that while the move is a massive cultural win for On, investors are waiting to see how the brand translates its running-shoe success into the notoriously difficult soccer boot market.
Nike addressed the departure in a brief statement, thanking the French captain for his years of service. “We are proud of what we achieved together on and off the pitch. As he moves into the next phase of his career, we wish him continued success for what comes next.”
For On, the partnership is a strategic maneuver to bolster its presence in the Americas, a region that already accounts for more than half of its total revenue but has faced recent headwinds due to inconsistent consumer spending. By aligning with one of the world’s most recognizable athletes, the Swiss label hopes to inject fresh momentum into its growth strategy as it prepares for its formal entry into the world’s most popular sport.
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