Mbappe leaves Nike, signs with On as Swiss sportswear maker forays into soccer

Reuters • September 18, 2026 • sports

Key Points:

French soccer star Kylian Mbappe has ended his 20-year partnership with Nike to join Swiss sportswear brand On, marking a significant move for the fast-growing company backed by Roger Federer.
On aims to expand into soccer, planning to launch its first boots in 2027 and has appointed former French star Thierry Henry as director of football to support this push.
Mbappe's departure follows other recent Nike losses, including Spain's Lamine Yamal to Adidas and the Premier League match ball supply contract to Puma, despite Nike securing a French national team kit deal extension until 2033-34.
Nike CEO Elliott Hill's efforts to refocus on key sports like soccer may be challenged by Mbappe's exit, though investors remain more concerned with Nike's product innovation and overall turnaround progress.
On's shares showed limited gains after the announcement, while Nike's shares were largely unchanged, indicating minimal immediate market impact from Mbappe's switch.

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