Kylian Mbappé has entered a 10-year partnership with the Swiss sports brand On, marking a significant shift after spending almost 20 years with Nike, as reported by Bloomberg. Nike stated to CNBC that it ended its relationship with Mbappé.
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At age nine, Mbappé began his journey with Nike and has since become an iconic figure in soccer. On plans to launch its first soccer footwear line for both men and women in 2027, according to The Athletic.
Details of the contract remain undisclosed; however, reports indicate that Mbappé will receive equity in On. He is set to collaborate with the brand to develop soccer boots utilizing their innovative Lightspray technology, which employs a robotic process to create seamless shoe designs.
In a similar move, Lamine Yamal, a 19-year-old soccer talent from Spain, recently switched from Nike to Adidas, citing the presence of numerous superstars at Nike as a factor in his decision.
Shares of both On and Nike experienced declines yesterday, with On dropping 0.3% and Nike decreasing 2.3%. Nike's stock has decreased by 44% in 2026 thus far. On is scheduled to present its revenue projections at an upcoming investor day.