Kylian Mbappé has signed an endorsement deal with Swiss sportswear company On after Nike decided not to renew its contract with the French football star.
The agreement marks On’s first signing in football as the brand expands beyond its core running business. The company also announced that former France international Thierry Henry would become its director of football.
Mbappé’s previous contract with Nike ended in July. A person familiar with the matter said Nike believed it had benefited from the prime years of the 27-year-old’s career and chose to deploy its endorsement budget elsewhere.
The decision represents another significant change for Nike as it attempts to rebuild brand loyalty and product innovation under chief executive Elliott Hill. The company’s sluggish sales, particularly in China, have contributed to its share price falling by about 50 per cent over the past year.
Mbappé brings star power to On’s football ambitions
Mbappé joined Nike in 2006, when he was still a child, and has since become one of football’s most prominent players. The Real Madrid forward is the leading scorer of all time for Paris Saint-Germain, France and the World Cup, and helped his country win the tournament in 2018.
He said he had been attracted to On by the chance to develop something new within the sport.
“I want 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. We have a shared dream, and this is only the beginning,” Mbappé said.
On said it wanted to bring a “fresh perspective” to football. David Allemann, the company’s founder and co-chief executive, said: “Football doesn’t need another sportswear brand to do more of the same. Football needs new ideas and a challenge to what is possible.”
Nike has continued to represent several of the sport’s leading players, including Erling Haaland, Vinicius Junior, Alexia Putellas and Sam Kerr.
The company wished Mbappé well, saying: “Over nearly two decades, we’ve shared moments that shaped the game and he has been an important part of Nike Football. 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.”
Analysts at Jefferies cautioned that football is one of the most expensive sportswear categories to enter, adding that “performance credibility cannot simply be bought”.
The firm drew a comparison with Under Armour’s previous partnership with basketball player Stephen Curry, warning that a star athlete had not been enough to establish the brand as a dominant force in the sport.
