Kylian Mbappé signs decade-long deal with On Holding

Real Madrid forward Kylian Mbappé has signed a major decade-long partnership with the Swiss athletic brand On, marking a significant shift in the sports footwear market. The deal, reportedly worth approximately 20 million euros annually, includes an equity stake for Mbappé, mirroring the strategic partnership previously established between On and tennis legend Roger Federer.

Spearheaded by Thierry Henry, the collaboration positions On as a direct challenger to the long-standing duopoly held by Nike and Adidas in the professional football sector. While Mbappé had been a Nike athlete since childhood, this move signals a broader trend of high-profile athletes seeking equity and brand co-creation rather than traditional endorsement fees.

As On enters the football market, the brand faces the challenge of transitioning from its premium positioning in running and lifestyle sectors to the competitive football boot market, which is heavily driven by youth demographics. The global football boot market was estimated at 29.41 billion dollars in 2025 and is projected to grow significantly by 2030.