Kylian Mbappé Exits Nike, Joins Swiss Sportswear Brand On
French soccer star Kylian Mbappé has ended his long-term partnership with Nike and signed an endorsement deal with the Swiss sportswear company On. A source revealed that Nike decided not to renew Mbappé's contract as it expired in July, redirecting its sponsorship budget elsewhere amid a broader corporate turnaround under CEO Elliott Hill. This shift aligns with Nike’s ongoing efforts to revitalize brand loyalty and product innovation after struggling sales, particularly in China, have led to nearly 50% stock price declines over the past year. For On, Mbappé's signing marks its first major entry into football sponsorship, signaling a strategic expansion beyond running. The move is seen as significant for both brands: Nike loses one of soccer’s most prominent figures while On gains high visibility in global sports marketing. In his statement, Mbappé emphasized the opportunity to innovate and build something new with On. Analysts have warned that entering football sponsorship requires more than just financial investment; performance credibility is essential. Jefferies compared this challenge to Under Armour's past partnership with Stephen Curry, which failed to establish dominance in basketball.
Topics: Endorsements Kylian Mbappé Nike On (sportswear) Sports Marketing