Kylian Mbappé ended a two-decade partnership with Nike and now represents the Swiss brand On. The move marks a new chapter for the striker and increases competition in the sports goods segment.
Agreement Details
On, a Swiss sports performance company, announced the contract with the Frenchman and revealed ambitious plans. The brand intends to launch its first soccer cleats in 2027.
In addition, it appointed former player Thierry Henry as football director, strengthening its strategy in the sport.
Market Reaction
On's shares, traded in the United States, rose 5% in pre-market operations.
The company, which has Roger Federer as an investor, seeks to expand in the Americas, where it concentrates more than half of its sales.
Impact on Nike
Mbappé's departure represents another setback for Nike, which recently lost young Lamine Yamal to Adidas.
The American brand praised the Frenchman's career in an official statement, wishing him success in his new phase.
“Once again, football has led me to one of the biggest changes in my life,” Mbappé declared on his social networks.