Nike lose Mbappé as Swiss brand On secures his new deal

France’s Kylian Mbappé has turned to Swiss sportswear firm On after Nike chose not to renew his endorsement contract, which expires in July. The move fills On’s ambition to break into football, a market where it previously had no presence. Nike’s decision surprised many, given the 27‑year‑old’s status as a global icon.

On’s first football signing

The agreement was confirmed on Friday, making Mbappé the first footballer to sign for On. The brand also announced retired France great Thierry Henry as its director of football, underscoring the coup for a company best known for running shoes.

Mbappé explained his choice, saying he wants to “bring my experience and perspective into what we create, push what’s possible through innovation, and always stay true to the joy of football.” He added that the partnership offers a chance to build something new.

On’s co‑CEO David Allemann echoed the sentiment, stating, “Football doesn’t need another sportswear brand to do more of the same. Football needs new ideas.” The Swiss label hopes the deal will boost its credibility in a sport traditionally dominated by larger rivals.

Nike, an American giant, said it wishes Mbappé well after nearly two decades together. Analysts at Jefferies warned that entering football is costly and that “performance credibility cannot simply be bought,” drawing parallels with Under Armour’s NBA experience.

The endorsement shift arrives as Nike, under CEO Elliott Hill, battles a 50 percent stock decline over the past year, driven by sluggish sales in China. Mbappé’s departure highlights the brand’s broader strategy to reallocate resources.