Au Revoir, Nike: Kylian Mbappe Signs With On
On, a Swiss sportswear company, has entered soccer by signing Kylian Mbappé, Thierry Henry, and Sydney Schertenleib. Nike ended its partnership with Mbappé, citing strategic redirection. On reported 13.5% sales growth but missed revenue forecasts. Nike faces investor impatience and was removed from the S&P 100.
How this was made
The 30-second read
Why it matters
The deal positions On as a new player in football apparel, potentially reshaping brand dynamics in the sector.
Market read
While the endorsement is high‑profile, its immediate trading relevance is limited due to On's lack of a US‑listed ticker.
What to watch
Nike's loss of Mbappé could create a competitive gap that On may struggle to fill.
Background
On, a Swiss sportswear company, announced a multi‑year partnership with football star Kylian Mbappé and added Thierry Henry and Swiss player Sydney Schertenleib as ambassadors.
Market effects
Potential boost to sportswear sector as a major star endorsement shifts consumer attention.
May influence European sportswear market sentiment, especially Swiss and French brands.
Limited global impact; primarily affects niche sportswear segment.
Counterpoint
The endorsement may not translate into sales if On cannot scale distribution effectively.
Key entities
- CompanyOn
Swiss sportswear brand expanding into football.
- AthleteKylian Mbappé
World Cup Golden Boot champion, new face of On.
