Kylian Mbappé has sensationally ended his 19-year partnership with Nike, with his contract reportedly expiring on July 31 and not being renewed. This move is considered a significant blow to Nike, especially as the brand has been perceived to be struggling against competitors like Adidas in sports marketing. Mbappé, a 27-year-old World Cup winner and one of football's most marketable talents, has been a cornerstone of Nike's football division for years.
Instead of joining one of Nike's established rivals such as Adidas or Puma, Mbappé is reportedly set to partner with Swiss sportswear company On. On, founded 16 years ago, has rapidly grown into a $10.77 billion company, primarily known for its disruptive running shoes and patented 'CloudTec' technology. This partnership marks On's first foray into the highly competitive football boot market, with Mbappé expected to be the global face of their new football offering.
This will not be a typical endorsement deal; according to French insider Thibaut Vezirian, Mbappé's agreement with On will include equity in the company, with him receiving shares and leading his own "sub-brand" of signature football boots. This structure echoes Roger Federer's successful equity-backed partnership with On, where he took a stake and helped develop products. This type of deal offers Mbappé a significant influence on product strategy and brand building, positioning him as a partner rather than just an ambassador.
Analysts view this as a legacy play for Mbappé, offering him a seat at the table and the chance to reshape the industry, something that traditional brands like Nike cannot offer. On has demonstrated rapid growth, with second-quarter 2026 revenue reaching $1 billion and annual revenue projected up to $4.4 billion. The deal is expected to be announced soon, sending shockwaves through the sports endorsement landscape.
