Mbappé switches off Nike for On

PARIS– French football star Kylian Mbappé has ended a two-decade partnership with Nike to join fast-growing Swiss sportswear brand On, giving the Roger Federer-backed company a marquee name for its push into soccer and handing the US giant another high-profile defection.

The financial terms of the deal have not been disclosed, though On said the structure includes both cash and equity components, without providing further details.

The move underlines On’s ambitions to expand beyond running and tennis into soccer, where it plans to launch its first boots in 2027 and has brought in former France star Thierry Henry as director of football.

It adds to pressure on Nike, which has recently lost other high-profile players to rivals, as newer brands make inroads into the global sportswear market.

Mbappe’s move to On ends a relationship between the French national team captain and Nike that dates back to 2006 when he was 9 years old, and comes on the heels of Nike’s loss of recent World Cup winner Spain’s Lamine Yamal to Adidas.

“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,” Nike said in a statement.

His exit comes despite Nike’s foothold in France, where the company has secured an extension to the French national team’s long-running kit-supply agreement until 2033-34. – Reuters