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Mbappé's On partnership and On's football expansion

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2026-09-22 20:30 UTC → 2026-09-25 20:24 UTC · added ~~removed~~

Kylian Mbappé has ended his nearly 20-year partnership with Nike to sign a landmark 10-year deal with the Swiss sportswear brand On Holding. This agreement, which includes both cash compensation and an equity stake, marks On’s strategic entry into the professional football market. As a global ambassador and shareholder, Mbappé will participate in product development and testing for the company’s upcoming football boot line, expected to launch in 2027 using LightSpray technology. This equity-based arrangement mirrors the model previously established with Roger Federer. To support this expansion, Thierry Henry serves as On’s Director of Football to oversee brand strategy and athlete relationships. Additionally, Sydney Schertenleib will assist in developing products specifically for the women’s game. During a recent investor day, On outlined ambitious mid-term financial targets through 2029, aiming for annual revenues of at least 5.6 billion Swiss francs with a currency-adjusted growth rate in the high single digits. The company also expects an adjusted EBITDA margin of at least 22 percent and a gross margin of at least 65 percent. To facilitate growth, On has approved a share buyback program of up to 1 billion US dollars through the end of 2029 and intends to expand into the golf category. For the 2026 fiscal year, the company expects revenue growth in the low 20-percent range. In a separate matter, Mbappé faced criticism following a Real Madrid match against Elche. He, along with Vinícius Júnior and Ibrahima Konaté, wore a solidarity shirt for the Spanish enclave of Ceuta, but Mbappé partially rolled up the shirt, obscuring the message. Mbappé addressed the controversy by stating he maintains solidarity with Ceuta but also wished to express empathy for migrants, remarking, “Before I am a player, I am a human being.”

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