Mbappe leaves Nike, signs with On as it enters football

Paris: French soccer star Kylian Mbappe has departed from Nike and signed with Swiss sportswear brand On, marking a significant shift for the American brand as competitors gain traction in the athletic footwear industry. On anticipates launching its inaugural football boots by 2027, while also appointing former French player Thierry Henry as its director of football.

On's shares listed on the US stock market surged by 5% in premarket trading. The company, partially owned by Roger Federer, aims to expand its presence in the Americas, which constitute over half of its revenue.

Mbappé's transition to On concludes a partnership between the French national team captain and Nike that began in 2006. This decision follows Nike's recent loss of Spain's World Cup winning player, Lamine Yamal, to Adidas. Nike expressed pride in their achievements together on and off the pitch, wishing Mbappé continued success in his future endeavors.

Nike had increasingly relied on Mbappé as one of the sport's leading global ambassadors following the departure of Cristiano Ronaldo from the scene. The World Cup winner continued to be a focal point of Nike's football marketing during this year's FIFA World Cup, receiving signature editions of its Mercurial boots. Mbappé expressed his excitement about embarking on a new chapter in his career, surrounded by innovators who share his passions, through his social media channels.